RegTech comapny Konsentus acquires Open Banking Europe S.A.S.

Konsentus, an identity and regulatory checking service provider, has completed the acquisition of Open Banking Europe S.A.S. from PRETA.

In conjunction with the deal, Open Banking Europe S.A.S. will remain as a separate operating entity and will continue to be led by John Broxis. It will be directly integrated into the Konsentus business.

Founded in 2017, The Open Banking Europe initiative provides members with a collaborative environment to identify market issues and problems. It offers a single, standardised and machine-readable repository of regulatory data related to third-party providers.

Konsentus was launched in 2018 to empower the safe and secure exchange of data and funds complying with PSD2 open banking access to accounts.

PRETA Giorgio Ferrero said, “We identified the need for Open Banking Europe to grow beyond its incubation stage and move to the next level in an accelerated manner. With their global expansion plans, product pipeline and fast-growing partner and customer base, Konsentus is well-placed to pursue the initial ambition for OBE Europe to boost safe and secure Open Banking globally.

“We are pleased to bring our OBE clients to this thriving environment, where they will continue to be well served by Konsentus and John Broxis, and can benefit from new and innovative Open Banking services on a European and global scale.”

Last year, Konsentus completed a multi-million pound pre-Series A investment round, which was raised to support its growth and innovation efforts.

The RegTech partnered with PSD2 technology platform Openitio, last year, to provide financial institutions with easier compliance.

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