Konsentus launches Open Banking Transparency Directory

Konsentus today announced the launch of the Konsentus Transparency Directory, a single source of standardised data for the open banking ecosystem. This data enables organisations to easily connect with each other for queries and dispute management processing.

The Konsentus Transparency Directory provides visibility of open banking participants by bringing together disparate data into a single, searchable service, easily accessible to the open banking community.

Available on a subscription basis, the Directory currently contains the legal, commercial, and operational details of all the third party providers (TPPs) regulated in the EEA.  The simple search functionality enables Financial Institutions to see where these third parties are regulated, understand the types of regulated services they are delivering to consumers, and how to contact them in case of a dispute.

The initial roll-out will soon be followed by information on the many Financial Institutions acting in the capacity of TPPs, searchable by group or country. Participants can search for detailed and standardised information on bank developer portals and APIs in addition to operational and technical contact details.

„The acceleration of the open data economy and market maturity demands clarity, visibility, and transparency of information as Financial Institutions look to extend their ‘open’ service offerings. This centralised data source will help our customers better understand the organisations they can connect with and how to engage with them quickly and easily,” the company said.

Mike Woods, CEO, Konsentus, commented: “The launch of the Konsentus Transparency Directory provides a much-needed tool enabling our customers to benefit from more efficient experiences of query management related to open banking which complements our ID and verification platform, Konsentus Verify.”