Fidor selects Konsentus for TPP identity checks

Source: Konsentus

Konsentus and Fidor Solutions announced today that Fidor Solutions AG, a fully-owned subsidiary of Fidor Bank, specialising in Platform as a Service and digital banking solutions, has selected the leading RegTech provider Konsentus to support the roll-out of its PSD2 open banking offering.

Konsentus’ Third Party Providers (TPPs) identification platform will be integrated into fidorOS (fOS), Fidor Solutions’ proprietary API digital banking platform, offering an off-the-shelf PSD2 and open banking compliant solution to bank clients. The first client deployment will see Germany’s neobank, Fidor Bank, use this service to perform TPPs Identity & Regulatory checking - a core component of the PSD2 directive. In addition to Fidor Bank, the Konsentus solution will ensure PSD2 and GDPR compliance for all Fidor Solutions’ bank clients by securing access to end customers’ accounts and data to only fully authorised and regulated third parties.

As a SaaS cloud-based platform powered by API, Konsentus offers a plug-and-play RegTech solution for TPPs’ identification. Its platform will integrate and work in conjunction with the essential banking functions provided by Fidor Solutions’ fOS digital banking platform, allowing a ground-breaking customer-centric banking experience through best-in-industry collaboration.

As Dr Michael Maier, CEO at Fidor Solutions stated: “One of Fidor’s key value propositions is to provide a frictionless banking experience, and Konsentus supports us in delivering on this promise. As we roll out new services to our digital banking customers in line with the PDS2 open banking directive, we can do so with full confidence that Konsentus protects our customers, while allowing a wide range of third-party payment service providers to securely access their transaction accounts.”

Mike Woods, CEO at Konsentus, commented: “We are delighted to deliver our services to Fidor Solutions and their bank clients. For Fidor Solutions and their B2B clients who are focused on delivering a customer centric experience through innovation and speed, Konsentus is a great fit. Our offering will enable Fidor Solutions to quickly provide enhanced value to their clients.”

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