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Online & Mobile Banking

Mastercard, Konsentus partner for TPP identity and regulatory checking

Tuesday 29 January 2019 | 11:42 AM CET

Konsentus has been selected by Mastercard to deliver TPP identity and regulatory checking solutions, as part of Mastercard’s suite of Open Banking services.

As per the plan, Mastercard’s services will include:

  • a pan-European directory – through this, financial institutions will ensure that TPPs who seek access to a customer’s account are legitimate and hold the appropriate regulatory status

  • a dedicated dispute resolution mechanism

  • a connectivity hub

Through their partnership, both Mastercard and Konsentus are seeking to ensure that financial institutions have access to the right tools in order to meet their regulatory obligations, as well as to enable them to reach the potential of the Open Banking opportunity.

More: Link