The compliance period for companies to comply with PSD2 rules expired on 14 March 2019. The rules require that old banking and financial services providers who maintain online client accounts must provide an application programming interface (API) to allow new operators, third parties ( Third Party Providers, TPP) to develop new services such as order placement, payment or account information.
Partnerships keep going on
Fintech software and solution innovator Epiphany SRI today announced a partnership with Regtech company Konsentus. As a result of this partnership, financial companies will be able to build open digital banking platforms that comply with PSD2 regulations.
The Epiphany Open Digital Banking platform helps banking and finance companies stay relevant and meet their customers’ current and future banking needs by providing access to an ecosystem of advanced financial services. Consentus is the only live software as a service (SaaS) -based API solution available to validate TPP identity and regulatory status.
Paolo Spadafora, CEO of Epiphany, said, “We look forward to working with Konsentus to help our customers achieve PSD2 compliance and take full advantage of the new open-banking era”.
About Epiphany
Epiphany SRI is a software and solutions company dedicated to the development of software that helps industry and society to improve in this time of change. Epiphany has used its know-how to meet the needs of European banking as part of new PSD2 prudential regulations and open banking in general.
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Also published on Medium.