Konsentus launches international Open Banking Hub

27 noiembrie 2020

The OB Hub provides a rich data management system enabling national authorities to monitor the adoption and success of open banking in their country. 

Konsentus announced it has launched an international infrastructure platform with the ability to accelerate a country’s implementation of open banking.

The Konsentus Open Banking Hub (OB Hub), a SaaS-based solution, runs in a national cloud infrastructure, has end to end functionality and „helps create, support and secure vibrant open banking economies across the globe”, according to the press release.

„The OB Hub removes the complexity involved in setting up a central and secure open banking ecosystem within a country, enabling regulated entities to quickly and easily share data and execute payment transactions with each other,” the company said.

The OB Hub has three core components.

i) Participant on-boarding and registration services

Through Identity and Verification services, authorised participants (both organisations and individuals) can register and on-board within the open banking ecosystem enabling them to share data and execute payment transactions with other regulated entities in a secure and safe environment.

ii) Directory Services

A central directory service that participants can access in real time, online, 24/7 to verify the identity and regulatory status of individual entities when transaction requests are made. The OB Hub is a central repository of the latest available regulatory information on all registered and regulated entities. This includes performance and availability data, contact details, data updates and revocation information and history for all participants

iii) Certificate Authority

The OB Hub issues and manages the digital credentials of all participants in the open banking ecosystem. This enables participants to positively identify themselves to other regulated entities in order to perform open banking transactions such as sharing data and executing payment transactions.

An immutable audit log is a record of all transaction requests, providing valuable information for dispute management processing. Quick and easy to set up, OB Hub provides a trusted central system, enabling all regulated entities to interact with each other in a safe and secure environment.

Additional elements of the OB Hub enable publication of National API standards, a third- party provider (TPP) testing sandbox, a central API and App marketplace, and an API monitoring service to show real time national API performance.

All the above comes with a secure messaging platform for participant to participant messaging reporting and a dedicated helpdesk for support services.

In addition to the onboarding, directory and certificate checking services, the complete Konsentus OB Hub solution delivers a programme management forum to educate market participants, alongside testing and support services to enable a fully functioning national open banking environment.

Mike Woods, CEO, Konsentus, commented “The creation of a central open banking platform enables us to help individual countries realise their open banking ambitions without having to understand, build and execute their own systems.  We already deliver first-class technology that’s scalable, resilient and built for maximum availability.  Data consolidation, standardisation and formatting in a secure real-time, online environment are why we are global leaders in our field and the trusted partner for safe and secure open banking economies.

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Gabriela Nistor – director general adjunct BT

Tendinţele pe care le-am remarcat înainte de începerea pandemiei s-au accelerat pe perioada stării de urgenţă. Am văzut acest lucru ca o oportunitate, un tipping point pentru bancă. Post-pandemie nu avem cum sa ne întoarcem la comportamentul financiar pe care îl aveam până în februarie a.c. Relaţia românilor cu online-ul s-a schimbat. In plus, cardul fizic se va dematerializa. Vom asista la o scădere a cererii pentru cardurile fizice, respectiv la o creştere a preferinţei pentru componenta digitală a acestora.”

Sondaj

In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?