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How a Cloud platform for Konsentus boosted Opening Banking confidence

An innovative Regtech start-up, Konsentus is the first real-time consent and preference platform for Open Banking.

With an idea and a website already in place, Konsentus enlisted our technical expertise to build a platform that had responsive, scalable software engineering practices firmly at its core.

Before we could start building, we first needed to understand and map a number of key areas related to PSD2 - how key regulations would affect the product, and how those regulations might shape and impact the future roadmap. To do this, we led a one-month technical research period and built a full view and understanding of the impact of Open Banking on Konsentus post-PSD2.

The next step was to secure investment funding. To achieve this, we built a prototype of the platform in AWS in four weeks that simulated how an end user would use the application, based on sample data.

Once funding was received, we were ready to start building Konsentus Verify: a product that would help protect financial institutions and their customers from Open Banking-related risk.

To ensure the solution was scalable and always available to end users, the new, secure platform was built using AWS in the Cloud. The ECS containers were designed to host Node.JS RESTful microservices, which would allow Konsentus to easily gather TTP data from different financial platforms, and then quickly aggregate the results in PostgreSQL RDS and Redis Elasticache.

We also:

  • Automated the build of the Cloud-native solutions using CloudFlare

  • Built and implemented the CI pipeline using CircleCI

  • Introduced automated performance testing using Artillery

  • Set up an integration test suite to ensure the solution worked as a coherent whole

  • Using a single API, Konsentus now integrates with multiple registers at the same time, and can integrate with 115+ registers, 70+ qualified trust services providers, 31 competent authorities and two EBA registers.

  • Konsentus can move from a sandbox environment to a live site in less than a week, and the service is easy to deploy for Konsentus customers.

  • With recruitment and upskilling support from AND, Konsentus now has a thriving, sustainable in-house development capability to keep the product moving forward.

Since launching, Konsentus has partnered with a number of high profile organisations, including Mastercard, and has won numerous awards, including three at the Emerging Payments Awards:

  • Best Technical Service Organisation supporting Emerging Payments

  • Best Back Office Innovation

  • Best Banking or Open Banking Initiative