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Konsentus launches TPP regulatory checking sandbox

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Konsentus, a RegTech solutions business who facilitate checking the regulatory status of Third-Party Providers enabling Financial Institutions to be PSD2 open banking compliant is pleased to announce the launch of Europe’s first TPP regulatory checking sandbox.

The Konsentus TPP regulatory checking sandbox provides Financial Institutions (FIs) and developers with the ability to create code and test the essential regulatory checking services that support PSD2 open banking compliance. The EBA register, that has been announced, is not a machine readable, real-time, online database. Whereas the Konsentus service will facilitate real-time regulatory checking of TPPs, confirming their authorisation or registration status, assisting FIs to reduce the financial losses from fraudulent third parties.
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