Open banking third party provider (TPP) identity & regulatory checking firm, Konsentus, and turnkey open banking platform provider,, announced a strategic partnership to provide European financial institutions (FIs) with a solution for PSD2 compliance.

Token and Konsentus’ partnership enables FIs to fast-track PSD2 compliance by connecting to a managed combination of the two open banking technology platforms.

The partnership aims to bring together both companies skills to a fully functioning SaaS API compliant with PSD2.

Token can provide the functionality required by the RTS including readiness for external testing and readiness for full production by 14th September.

Konsentus’ SaaS platform conducts automated checking and verification of TPPs that are requesting data and payment access to banks.

The announcement refers to FIs “maximising their open banking connectivity and turning regulatory due diligence into a market differentiator” in order to establish a competitive advantage in open banking – along with PSD2 compliance.

Brendan Jones, Chief Commercial Officer, Konsentus, commented: “Combining our identification and regulatory checking services with Token’s open banking platform delivers a true fast-track to compliance.

“Together, our ‘plug and play’ proposition is really powerful, especially for those under pressure to meet the regulatory requirements.”

The combined solution is based on TokenOSTM which delivers open APIs and programmable money technology, with the operational support, consent management, monitoring and reporting required to achieve compliance.

Konsentus provides fully automated (TPP) identity and regulatory checking services that ensure FIs only provide payment initiation and account information data to regulated TPPs which have demonstrably secured their customers’ consent.

Marten Nelson, Co-founder, Token added: “The clock is counting down for banks that are not yet compliant.”

“Our proposition with Konsentus not only gives these players a helping hand towards compliance but puts them in a position of strength for when the game really begins later this year.”, recently announced another partnership with digital challenger bank Tandem to help achieve PSD2 compliance in the UK.