Konsentus has introduced new ways for European financial institutions to access its data directory, Konsentus Verify, enabling them to choose the frequency of data feeds to match their business needs.
Konsentus Verify can now be accessed through an online portal, via a real-time API or downloadable cache.
According to Konsentus, data is typically “disparate and inconsistent” in Europe, making it difficult to identify third parties and to check their identity and regulatory status.
Its directory provides the latest available source data on payment service providers, such as PISPs, AISPs and ASPSPs acting as third parties, as well as electronic money institutions and credit institutions acting as either ASPSPs and/or third party providers.
Financial institutions in the European Economic Area can now choose from three different service levels to access that data, while the underlying data remains the same at each level.
Konsentus has described ‘Essential’ as a self-service portal for manual onboarding and periodic reviews of third-party providers, while ‘Professional’ provides on-demand access via a real-time API to allow full automation of third-party provider checks with “a light touch integration”.
The third service level, ‘Enterprise’, is described as an “on-premise” cache to support in-house checks of third-party providers at scale and without external dependencies.
Mike Woods, chief executive officer of Konsentus, said: “We’ve always been known for providing a trusted source of data to our customers and we’re now delighted to be able to offer the European market the flexibility they’ve been looking for.
“As we transition to Open Finance and the ecosystem grows, financial institutions need to know they can depend upon our trusted data source for their identity and regulatory checking – whether that be manual or automated, within their environment or via an API integration.”
In July, Konsentus announced it had made Konsentus Verify available on Temenos Exchange, which is a partner ecosystem of integrated fintech solutions.
