Konsentus Announces Acquisition of Open Banking Europe from PRETA

Konsentus Limited, a fintech startup offering Software as a Service (SaaS) solution to financial institutions, announced on Monday its acquisition of Open Banking Europe S.A.S. (OBE) from PRETA S.A.S., a fully owned subsidiary of EBA Clearing.

100% owned by Konsentus, OBE will continue to operate as a separate entity led by its previous managing director John Broxis. The software solutions of the entity will be directly integrated into the Konsentus business.

Formed in June 2017, OBE has brought together many market participants to turn regulatory requirements into operational reality. Its members are provided with a collaborative environment to identify market issues and problems and create solutions via guidance, standards and tools.

Founded in 2018, Konsentus aims to provide a real-time, online solution to protect financial institutions from PSD2 Open Banking fraud and become a leader in the space of solutions and services for open banking, finance and data.

Over the coming months, PRETA will offer a close co-operation with Konsentus to ensure a smooth operational handover for all parties involved.

Mike Woods, CEO, Konsentus, stated: "Working with PRETA's Open Banking Europe was an obvious next step to accelerate our European expansion and cement our position as market leader. We are delighted to welcome the clients of PRETA OBE to Konsentus and are proud that over 500 financial institutions, including some of the biggest and most prestigious banks within Europe, will also become Konsentus clients."