Fidor Solutions, a subsidiary of Fidor Bank, has selected RegTech provider Konsentus to support its PSD2 open banking roll-out.

The collaboration will see Konsentus’ Third Party Providers (TPPs) integrated with Fidor Solutions’ API digital banking platform fidorOS (fOS). The integration will provide the bank clients with an off-the-shelf PSD2 and open banking compliant solution.

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Konsentus solution will ensure PSD2 and GDPR compliance for all Fidor Solutions’ bank clients. The solution will ensure that only fully authorised and regulated third parties get access to customer data.

The first deployment will be at Fidor Bank, which will use it to carry out TPPs Identity & Regulatory checking.

Fidor Solutions CEO Dr Michael Maier said: “One of Fidor’s key value propositions is to provide a frictionless banking experience, and Konsentus supports us in delivering on this promise.

“As we roll out new services to our digital banking customers in line with the PDS2 open banking directive, we can do so with full confidence that Konsentus protects our customers, while allowing a wide range of third-party payment service providers to securely access their transaction accounts.”

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Headquartered in the UK, Konsentus offers identity and regulatory checking services to financial institutions to comply with PSD2 and open banking.

Konsentus CEO Mike Woods said: “We are delighted to deliver our services to Fidor Solutions and their bank clients.

“For Fidor Solutions and their B2B clients who are focused on delivering a customer centric experience through innovation and speed, Konsentus is a great fit. Our offering will enable Fidor Solutions to quickly provide enhanced value to their clients.”

Recently, ABN AMRO subsidiary Moneyou selected Konsentus for PSD2 TPP Identity and Regulatory checking capabilities.