Konsentus has announced that Konsentus Verify is now accessible through various channels, namely an online portal, a real-time API, or a downloadable cache. This development allows financial institutions within the European Economic Area (EEA) to select the delivery mechanism that best aligns with their operational needs.

According to the company press release, in the context of European Open Banking and Open Finance, verifying the identity and regulatory status of third-party providers poses challenges due to fragmented and inconsistent data sources. To address this, Konsentus has consolidated the latest available information on payment service providers (PISPs, AISPs, ASPSPs), electronic money institutions, and credit institutions into a centralized directory. This directory is designed to meet the needs of financial institutions regardless of their data access requirements.

Konsentus service levels Konsentus offers three service levels, each suited to different organisational needs: Essential is self-service portal for manual onboarding and periodic reviews of third-party providers.  Professional offers access through a real-time API, allowing automated identity and authorisation checks with minimal integration requirements.  Enterprise is an on-premise cache enabling large-scale, in-house checks without the need for external connectivity. The data provided remains consistent across all service levels, with the only variation being the access method. Financial institutions can also choose the frequency of data updates based on their specific business needs.

With the introduction of the Financial Data Access (FiDA) framework and upcoming PSD3 regulations, the number of providers requiring verification is expected to increase significantly. Konsentus plans to incorporate various data sets into Konsentus Verify to help financial institutions transition smoothly into the broader Open Finance landscape while ensuring customer data protection. Konsentus officials highlighted that the company’s trusted data service is now more flexible, giving financial institutions multiple options to perform identity and regulatory checks.

They noted that whether manual or automated, Konsentus Verify can be integrated in a way that suits the institution's needs. About Konsentus Konsentus specialises in providing advisory services and technology solutions to facilitate the national implementation of Open Finance ecosystems. Their technology, known for its modular and scalable design, enables participants to securely identify and interact within regulated environments.

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