Konsentus has announced the acquisition of Open Banking Europe S.A.S. from PRETA.
As part of the deal, Open Banking Europe S.A.S will remain a separate operating entity which will be directly integrated into the Konsentus business.
Mike Woods, CEO, Konsentus, stated: “Working with PRETA’s Open Banking Europe was an obvious next step to accelerate our European expansion and cement our position as market leader. We are delighted to welcome the clients of PRETA OBE to Konsentus and are proud that over 500 financial institutions, including some of the biggest and most prestigious banks within Europe, will also become Konsentus clients.
“I am delighted that John Broxis, who was Managing Director of PRETA’s Open Banking Europe initiative, is joining the Konsentus team, which will ensure a smooth transition. In addition, his vast industry expertise will be invaluable in uniting the open banking ecosystem and global community.”
The Open Banking Europe initiative has been key in bringing together market participants to turn regulatory requirements into operational reality.
The initiative provides its members with a collaborative environment to identify market issues and problems, championing awareness and creating solutions via guidance, standards and tools.
The Open Banking Europe Community will seek to complement the work Konsentus is already doing to support the safe and secure exchange of financial and non-financial information between payment service providers and other market players for the benefit of the wider digital economy.
Giorgio Ferrero, PRETA added: “We identified the need for Open Banking Europe to grow beyond its incubation stage and move to the next level in an accelerated manner. With their global expansion plans, product pipeline and fast-growing partner and customer base, Konsentus is well-placed to pursue the initial ambition for OBE Europe to boost safe and secure Open Banking globally.
“We are pleased to bring our OBE clients to this thriving environment, where they will continue to be well served by Konsentus and John Broxis, and can benefit from new and innovative Open Banking services on a European and global scale.”