European fintech Enfuce has chosen infrastructure platform Konsentus Verify to help protect its customers from unauthorised or fraudulent third parties gaining access to account data and funds.
UK-based Konsentus is a global Open Banking regtech company and its platform Verify works by checking a third party’s identity and regulatory status each time it attempts to access a financial institution’s Open Banking API.
Information is sourced in real-time directly from hundreds of databases and registers across the EEA and UK, and passed back to the FI through a single API.
Niklas Apellund, co-founder and CTO at Enfuce said: “Providing our customers with a fast and efficient PSD2 API which enables the secure exchange of data and funds is our primary focus.
“Embedding Konsentus Verify into our wider managed service offering will allow us to deliver on this promise to our customers.”
Enfuce, which was founded in Finland, has expanded its presence in Germany, Latvia, Sweden, and the UK, and now counts more than 16 million active card users on its platform.
Mike Woods, CEO of Konsentus, added that Enfuce is known for its technical excellence and security standards.
“By seamlessly integrating their products into the customer experience flow without compromising on safety or speed, they are well-positioned to be at the forefront of Open Banking implementation across Europe,” Woods said.