Moneyou decides on Konsentus ahead of PSD2

Compliance specialists Konsentus has announced it has been selected by digital bank Moneyou, a subsidiary of ABN AMRO, to support the roll-out of its PSD2 open banking offerings.

The firm will issue Moneyou third party provider (TPP) identity & regulatory checking solutions that only enable authorised and regulated third parties with access to their customers’ transaction accounts.

Mike Woods, CEO, Konsentus: “We are delighted to deliver our services to Moneyou. As an innovative bank that prides itself on offering a simple and frictionless customer experience, Konsentus is an ideal technology platform for them.”

Its software-as-a-service (SaaS) based platform is delivered via an API and Konsentus offers its solutions via plug-and-play so that it integrates itself into Moneyou’s in-house digital API platform and their essential core banking functions

Woods concluded: “Our solution will allow Moneyou to have confidence that they can expand their services offering a consistent experience for their customers.”

Founded in 2001, Moneyou boasts over 500,000 customers in the Netherlands, Germany, Belgium and Austria and will utilise Konsentus’ compliance features.

Theo van Bon, COO, Moneyou, commented: “We strive to incorporate the latest technology and solutions in a smart way to ensure we offer a first class digital banking experience to our customers. Konsentus supports us in ensuring we protect our customers in line with the PSD2 open banking directive, as we continue to evolve our products and services.

“Any time our Moneyou customers access and use their accounts they can do so with complete confidence that the regulatory status of any (by the individual customer consented) third- party payment service providers accessing their accounts has been checked by Konsentus.”