UK-based Open Banking solutions provider tell.money has partnered with crypto banking platform Colossos to expand the latter’s Open Banking capabilities. This collaboration involves the integration of Colossos' platform with tell.money's PSD2 dedicated interface, known as tell.gateway.

This cloud-native API-driven service facilitates the swift integration of PSD2-compliant APIs into any account provider (ASPSP) not only in the UK but in other parts of the world as well. The partnership with Colossos enables both business and personal users to efficiently invest in the cryptocurrency sector, eliminating the delays associated with traditional banking processes. This streamlined approach allows users to manage their crypto investments within a single platform.

Officials from tell.money emphasised the importance of supporting Colossos in its mission, highlighting innovation, compliance, and cost-effectiveness to foster an open ecosystem. Representatives from Colossos expressed excitement about the collaboration, citing tell.money's reliability, industry knowledge, and responsiveness as key drivers behind the partnership. According to the official release, achieving PSD2 compliance is an important step for Colossos, and the collaboration with tell.money has the potential to improve security, build trust among customers, and reinforce their commitment to data protection standards and regulatory compliance.

Colossos aims to bridge the worlds of crypto and online banking and seeks reliable partners like tell.money to create a secure platform. More information about the two companies Tell.money is an Open Banking SaaS platform that enables account providers to participate in the Open Banking ecosystem, fulfil regulatory obligations, and offer new Open Banking tools to their customers. Their product range includes Dedicated Interface APIs, Confirmation of Payee, test and monitoring, and money management tools.

In March 2023, tell.money has partnered with risk intelligence platform KYP for ongoing merchant and third-party relationship management and risk monitoring offering. According to the official press release, KYP was selected as a global orchestration solution to manage tell.money’s relationships on an ongoing basis. In addition, the organisations have also entered a strategic partnership to provide Open Banking account providers with extensive, real-time continuous risk monitoring of their partners and TPPs.

Commenting on the partnership, David Monty, Co-Founder at tell.money advised that the tell.money gateway is a dedicated interface for banks, fintechs, and other account providers that aims to enable them to meet PSD2 obligations in a simple and low-cost manner. Colossos is a crypto banking platform that integrates cryptocurrencies and euros, catering to both business and personal clients. Their mission is to democratise access to cryptocurrencies and revolutionise the banking experience for crypto investors and businesses alike.

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