LONDON, June 3, 2019 /PRNewswire/ -- Konsentus, a RegTech company that delivers SaaS solutions to Financial Institutions to enable them to be PSD2 open banking compliant, has closed a multi-million-pound Pre Series A financing round. The round was led by Mastercard and supported by other investors.
Mike Woods, CEO of Konsentus said "The RegTech market is growing at 45%+ per annum and with 9,000+ Financial Institutions in Europe that must deliver PSD2 open banking, the demand for the Konsentus service is significant and this investment will support an accelerated growth plan across Europe. With plans to launch new related services later in 2019 and international expansion in due course, we will be pursuing a Series A financing round in late 2019"
Mastercard's SVP of Open Banking Jim Wadsworth commented "We see significant potential for the Konsentus service as Open Banking evolves both in Europe and globally. Through its targeted investments in payment technology, Mastercard continues to provide real value in the way it delivers new solutions to its customers and end-users."
Konsentus is a RegTech company that was established to provide Identity & Regulatory checking services to Financial Institutions so that they can comply with PSD2 and open banking. Issued through a SaaS based platform it enables Financial Institutions (ASPSPs) to comply with EU regulation on PSD2 open banking and provide open banking services to their customers, confident in the knowledge that they are only providing data to Third Party Providers (TPPs) who are regulated and have customers' "explicit" consent to use their data.
The company was founded by Financial Service industry veterans seeking to deliver a simple and easy way FIs can comply with the new PSD2 regulations for open access.
Headquartered in the UK, just outside of London, Konsentus are creating a world class solution for every Financial Institution in Europe. They are delivering this through utilizing the best in open standards, coupled with unique solutions and most of all a belief that they can deliver for clients a cost-effective solution to their regulatory requirements.