PAY M E N T G E N E S
QUARTERLY FINTECH MAGAZINE BY PAYMENTS PEOPLE. FOR PAYMENTS PEOPLE.
JUNE 2019
IS UNBIASED CANDIDATE SCREENING POSSIBLE?
Toronto
THE NEXT GREAT FINTECH HUB
FINTECH WEEK LONDON 2019
Konsentus
IDENTITY & REGULATORY CHECKING SERVICES FOR PSD2 COMPLIANCE
Licenses for Fintechs in The Netherlands WHY YOUR PREPARATION IS KEY + TIPS FOR SUCCESS
A word from: Michael Tailleur
Co-Founder PaymentGenes Dear reader,
For this edition of our magazine, I wanted to take the opportunity to tell you a bit about myself and also to share the story about how I co-founded PaymentGenes. Before my life in the payment industry began, I was a consultant at Deloitte. During the first few years I learned a great deal about how to drive business and how to deal with clients at the highest level. Working at one of the biggest consultancy and accountancy companies in the world provides you with an opportunity to learn how to handle and serve large enterprise clients. I was fortunate enough to work in Zurich for a year, which was a fantastic adventure but despite living the dream in Switzerland, working for one of the biggest companies in the world and having a nice pay-cheque, I felt unfulfilled. During this period, I spoke with multiple recruiters and I quickly realised that there was something missing in the world of recruitment. This was the spark that lead me to co-founding PaymentGenes. My Partners and I are passionate people who wanted to change the perception of recruitment and how it is fundamentally done. We strive to help companies appreciate the value of quality, niche recruitment. We have grown into a group of young professionals who are driven by a mission to redefine the gold standard of recruitment services, while ensuring that enjoyment is at the heart of everything we do. We have always believed in creating a culture in which people can learn from each other, not only in the form of hard skills, but also socially and in terms of heritage and values. We are comprised of seven nationalities including Dutch, French, German, Spanish, Ecuadorian, Hungarian and South African and through our differences we invest in our culture every day. The PaymentGenes team is not driven by making targets, numbers or deals. Our consultants want to learn everything there is to know about the payment industry, become trusted and knowledgeable allies for our business partners and to improve the careers of the people we work with. I hope you enjoy reading this issue!
2
7
2019
5
4
12
Authorisation & Licenses
CONTENTS
EMERGING MARKETS & DIGITAL INNOVATION
7
10
THE ROAD TO EU
AUTHORISATION
TORONTO: THE FUTURE OF FINTECH
12
15
16
FURHAT ROBOTICS: ROBORECRUITING
PAYMENTGENES
KONSENTUS: HOW TO BE PSD2 COMPLIANT
TOP JOB PICKS
3
EMERGING MARKETS ARE LEADING IN DIGITAL INNOVATION By Jane Thomason, CEO - Fintech Worldwide
Thomason et al (2018) argue that Blockchain and frontier technologies are changing the paradigm, of technology innovation in the west diffusing to emerging markets. High unbanked populations mean emerging markets are promoting an increasing shift to digital services, with digital payments growth of 21.6% between 2014 and 2015. Because digital payments allow people to transact in small amounts, they create new opportunities based on micropayments enabling pay-per-service, or pay-as-yougo, models. Digital payments also enable the creation of new business models such as the rise of e-commerce and sharing-economy models. One example is CrowdForce Solution (token.crowdforce.io) an African-based start-up using Ethereum to incentivise trusted local and community retailers to act as banks and offer financial services. These include utility payments, cash in/out accounts, buying and selling cryptocurrency, and making crypto-fiat exchanges on a PayForceMobileApp.
4
Emerging economies will accelerate this transformation for the following reasons: The sheer size and scale of the market – in 2017, China and India had around 660 million and 400 million smartphone users, respectively (compared with 220 million in the US); 89.7% of people under 30 live in emerging and developing economies; mobile penetration is growing rapidly. Growth will be driven by developing countries, including India, China, Pakistan, Indonesia and Bangladesh, Sub-Saharan Africa and Latin America and finally emerging markets have big problems to solve which stimulates innovation. Young, increasingly wealthy and techsavvy populations now have access to low-cost mobile devices and good network coverage. With digital technologies, emerging markets are making a virtue out of financial, geographical and other constraints.They have not only embraced the use of technology, but have become global market innovators in the latest technological developments, from mobile banking and shopping to robotics and health care.
London Fintech Week 2019, the global ‘go to’ event for quality, credible content for government, investors, and industry to learn about the latest trends in Fintech and Blockchain. The conference programme is designed for business leaders, VCs, managers and financial executives to give you a comprehensive understanding of the multiple aspects of Fintech and frontiers of financial innovation. We bring you leading edge speakers from disruptive and innovative technology companies, academics, media, regulators, start-ups and industry. Learn about the latest trends in banking and decentralised finance, digital banks, how big tech companies are using
customer data to tailor their offerings to individual customers’ preferences and could achieve scale very quickly in financial services. Get the latest on cryptocurrency regulation as the Financial Action Task Force prepares to roll out a new set of rules aiming to increase compliance requirements on Cryptocurrency exchanges at the G20 Leaders’ Summit in June. Businesses need clarity and certainty around global regulatory frameworks, there is a clear need for an international dialogue to drive collaboration between government and industry to deliver a coordinated response to the updated standards proposed by the FATF. This is a global conference, 85% of all payments in China are mobile - Fintech is rapidly evolving in the developing world, enabling countries to leapfrog outdated business models altogether. How will the future of fintech look different in emerging markets? This is not just about money, what are the ethical considerations with the growing use of AI? How can Fintech and Blockchain achieve social impact at a global scale? https://www.fintechweek.com/
30% Discount Code FinTech Week 4-10 July USE: PAY30 5
Our payments knowledge sets us apart from any other recruitment firm. We are experts in our field and offer a unique consultative approach. We are passionate about connecting people and we want to bring the human element back into our field. We strive to be “Recruitment. Personified.�
Optimisation Vendor Management
Conversion Optimisation
Interim Management
Corporate Development Mergers & Acquisitions
6
Strategy Consultant
Regulations & Licensing
THE ROAD TO EU AUTHORISATION By Alex Bewier
THE CHALLENGES IN APPLYING FOR A LICENSE AT DENEDERLANDSCHEBANK There have been various articles published recently regarding the application for a license at De Nederlandsche Bank (DNB). In the Financial Dagblad (FD), a Dutch financial newspaper, various companies that applied for a license at DNB due to the Brexit are complaining about the slow pace of procedures and the lack of knowledge about the FinTech industry at DNB. After submitting a license application, it takes a substantial amount of time before you get a response, and when you get a response, that response is received with numerous additional questions. The process seems endless. The discussion started in the public domain and even the DNB felt obliged to respond to the criticism. In a recent statement by the DNB, they pushed back against their detractors.: DNB Director Frank Elderson was quoted as saying, “We work with great care and dedication every day to ensure the stability, security and the safety of our financial sector. Applications are processed as quickly as reasonably possible and within legal deadlines�. Furthermore, in a caption from the FD article, it states that the application process in both France and Germany is just as difficult. For smaller companies, the German Bafin is seen as an impregnable fortress. continued on page 8...
7
Applying for a license is not a simple process. The DNB clearly indicates this on its own website, and they recommend hiring specialised professionals that know the process and which documents are required. The process is not limited to filling in paperwork, all of the documents should clearly indicate that the company making the request for a license have a full understanding of what they are getting themselves into. The documents have to meet all the requirements and must be consistent. As would be expected in any sector, the employees involved in the license application process know their products and services through and through, but is that always enough for a successful application? The answer to this question is a resounding no. Obviously, it’s essential that you know your products and services. However, one must also have a comprehensive understanding of a number of laws, regulations and the associated risks that come along with obtaining a license and being supervised by the DNB. Despite the fact that most of the requirements in regard to the license are similar throughout the EU, there are major differences in the strictness of each supervising organisation. Indeed, the DNB is rather strict in comparison to other supervisors.
Many companies see the license, and by association the DNB, as a necessary evil. They find the DNB as a speed bump that prevents the process from being as quick as possible. They also, quite naturally, want to limit the costs related to the application. The time and financial pressures create an environment where companies hand in incomplete documents, resulting in the DNB rejecting the documents more quickly. This consequently causes irritation at FinTech companies and backlogs at the DNB. The DNB is clearly a critical regulator, but perhaps fortunately so, as this plays a large part in the stability of the Dutch financial sector. Does the DNB limit /stop innovation? No, not really. Adyen is the prime example. While they haven’t had an easy time (they also faced challenges as a result of the critical views of the DNB) they
8
persevered and were even able to ‘upgrade’ from a Payment Institution license into a banking license from the DNB. So why is the DNB so strict? There are multiple reasons, but the experiences from the PSD1 process seem to be the main culprit. There are also many supervised institutions in the Netherlands that require DNB’s attention. When applying for their licences on the basis of PSD1, many companies went through a paper application process. On paper, these applications looked sufficient, but until the DNB went on supervisory visits after the permits had been issued, they didn’t realise that they had a problem on their hands. A completely different picture emerged for many of these companies and the DNB had to put in a great deal of time and effort into restoring these businesses to a truly compliant level. The DNB is naturally keen to prevent this from happening in the future, in part to prevent the costs of supervision from rising uncontrollably. In addition, the DNB expects foreign companies who apply for a license in the Netherlands (as a result of Brexit for instance), to have all their affairs in order. The DNB expects a professional application from a company that understands what it means to be supervised and has therefore properly documented its business operations, risks, and decision-making processes. This, unfortunately, is where things often go wrong. Many parties still see the application process as a simple question of filling in some documents. This can possibly be traced back to the approach used by the Financial Conduct Authority (FCA) in the assessment of the PSD1 permit applications. On paper it looked nice, but in the reality of daily operations, it is more difficult. On the contrary, the risk profile of Brexit institutions, for example, is completely different from that of the institutions supervised in the Netherlands, such as Banks, Payment Institutions and Electronic Money Institutions. The Brexit parties are not (yet) focused on the Dutch market, but much more on the British market. This is where the core of their activities /clients / assignments /transactions are located.
They want to grow within the EU, but the growth within the EU will have to take place with a Dutch licence and growth outside the EU, of course, will have to be achieved with a British licence. In addition, they do not want to have a large office with a lot of staff in the Netherlands. Every element of the business is already efficient (read: in the UK), so from a business economics viewpoint, attracting many new employees is not desirable. And don’t forget, the only reason to apply for a licence within the EU is because of the Brexit. The passport that they are currently using from the United Kingdom will expire, and when it does, they can no longer serve the EU market. Their objective is therefore not to make a real contribution to the Dutch economy, with a fully-fledged organisation.
The license they want to apply for in the Netherlands (or anywhere else within the EU), is a direct result of Brexit and therefore not from product or market initiatives. In short, it is a defensive strategy. Under European regulations, the DNB requires a company to be real, with substance and day-to-day management. Another point of friction is the working method of the newcomers. These parties are more agile, they are more ‘FinTech’, and are the challengers to the large, rigid, bureaucratic banks. They believe that the well-known management frameworks followed by the DNB, such as a COBIT, are therefore not appropriate. However, the DNB expects all supervised institutions to apply welldefined standards frameworks, particularly for ICT organisations. Even if the ICT has been outsourced to the parent company in the UK, or externally, the DNB expects the risk analyses and control measures to be based on the international standards. The use of COBIT is an important tool for the DNB to determine whether or not the institutions have their risks and control measures sufficiently in order, without the need for specific analysis for each supervised institution on the basis of their own frameworks of standards. Too often, agile working is still seen as a framework of standards, whereas it is only a process to achieve a result within the set standards. From the DNB’s point of view, these set standards must originate from an international
standards framework (read: COBIT). The use of cloud services is also seen as the modern standard for the management of continuity, availability, confidentiality and integrity risks. However, the DNB is of the opinion that ‘the cloud’ brings major risks, risks that need to be managed. In other words, cloud services are not a solution. It is seen only as a shift in the risk if no proper agreements have been made and if you do not know your outsourced provider to a sufficient degree. There are, of course, also many good reasons to apply for a permit in the Netherlands. The Netherlands is a trading country which has a strong open economy, a good infrastructure and is easily accessible by its international airports. There are many well-trained people to be found and the financial sector is dynamic and innovative. The process of acquiring a license as a payments company is relatively simple if you are well prepared and assisted by people who know the process. This is especially true if you compare it to a licence application for an Electronic Money Institution or, in its most extensive form, a Bank. Electronic Money Institutions are still very limited in the Netherlands because you are only able to acquire this licence if you also want to provide services that qualify as electronic money (or want to do so in the future). The additional requirements for an electronic money institution mainly relate to solvency requirements and the additional documentation requirements for the issuance of electronic money. The banking framework is often assumed by the DNB. In conclusion, applying for a licence in the Netherlands is not just about delivering a stack of paper. You have to be thoroughly prepared and make sure that you are assisted by experts who know what will be expected. The Netherlands is a fantastic country to do business in, so do your homework well and you will be able to conquer the EU from the Netherlands (in a controlled way and supervised manner)! About the author Alex Bewier has been working in the financial sector since 2001. As an independent consultant, he specialises in Governance, Risk & Compliance. He has assisted many organisations in applying for licences and in meeting compliance and risk management requirements.
9
PAY M E N T G E N E S heads to
toronto
The PaymentGenes global footprint is expanding daily, through our personal approach to recruitment and our increasing network of clients, who trust us to grow their business with the most vital building blocks: people. With this in mind, we decided to launch a new office and the hunt began for a new location in which we could spread our wings. The Fintech world is in a constant state of flux, and while the major hubs around the world have established themselves over the last decade or so (think London, New York, Singapore), there are a host of new hotspots that are looking to welcome new innovations to their central business districts. Places like Israel, South Africa, India, the Netherlands, France and Ireland are all picking up the pace and becoming key players in the future of this bustling industry.
One place in particular caught our eye, a place which has been going about its business in an unassuming manner, growing stronger each year in the shadow of its much more powerful southern neighbour. Canada may not be the first place you think of when it
10
comes to Fintech, but the east central province of Ontario and in particular the provincial capital Toronto, is set to become the next Fintech powerhouse, as well as the home to a new PaymentGenes office! Canadians have always been early adopters of financial technologies, from ATMs to online banking. Non-cash payments account for 90% of the total value of consumer payments in the country and now they are also rapidly they’re embracing mobile payments:
28% of Canadians use their mobile device to conduct banking activities, and 18% have used their mobile device to pay for products or services.
Looking at the financial services world, Toronto is second only to NYC in terms of industry employment and is also ranked eighth in the word of top international financial centers. The World Economic Forum ranks Canada’s banking system as one of the world’s soundest, and Toronto is home to the country’s four biggest banks, as well as over 80% of the foreign banks operating in the country. Furthermore, Ontario is attracting huge numbers and high concentrations of IT firms and the talent that they bring along.
Almost 300,000 people work in over 20,000 IT firms in Ontario, a staggering number which is approximately half of Canada’s IT workforce. It is also home to 7 fintech companies listed on Deloitte’s Canadian Technology Fast 50. The combination of solid financial institutions, the presence of leading technology companies and a second-tonone tech workforce make Ontario the perfect melting pot for testing, growing and developing new businesses.
Various ratings and sources named Canada: • 2nd best place in the world to start a business (The World Bank 2017) • 3rd in the 2018 global entrepreneurship index (Global Entrepreneurship & Developmemt Institute) • 2nd best place to locate a global HQ (US News and World Report 2018)
Interestingly, of the multiple fintech products found in Canada, payments & money transfers are the most used, making up almost a quarter (24%) of the fintech companies in the country. Taking all of this into consideration, we are excited about the opportunity that Toronto brings. 5 years ago, PaymentGenes started as an adventure and as of 2020, this adventure expands into the new world. We look forward to meeting you in person in the new Silicon Valley, Toronto. With this new entity we will be able to expand our services even further and provide North America with the specialist knowledge, care, speed and personal attention that our other global partners have enjoyed for the past halfdecade. Keep an eye out for more information about our new office. We look forward to helping you with your recruitment needs in Canada & the US from next year!
11
An interview with the CEO of Furhat Robotics, Samer Al Moubayed
Tell us about how Furhat Robotics came to exist. Furhat was actually born from a research program at the Royal Institute of Technology in Stockholm. I was doing my PhD, and together with Jonas Beskow and Gabriel Skantze, we came up with the vision to take social robots outside the lab and into the real world. When we started, none of us had ever built robots or hardware. Most of my PhD was devoted to looking at how people talk with each other, how they use their feelings, how they express themselves with incredibly subtle movements and body language and then building computational models of these human behaviors and examining how we can use these things to make machines better. And that’s one aspect that makes Furhat so unique today. We draw inspiration from people, not technology. We are building a social robot which interacts in as human a way as possible, bringing back humanity to technology. You interact with the robot through speech and other non-verbal forms of communication, which removes the need for devices such as keyboards or touchscreens. The robot’s face is an animation, meaning that it can be changed to suit different scenarios. It can be male or female, young or old, a different gender, or perhaps even a cartoon character. The animation of the robot’s face allows it to express a broad range of emotions and gestures, enhancing the conversational experience.
12
The result is a new type of computer interface that removes the barrier between man and machine, creating a much deeper emotional connection than
you would get with other forms of technology. But at first we didn’t have a company, it was just an exciting project, an idea from a hackathon on a Friday afternoon. The first robot prototype was built for an exhibit at the London Science Museum, and we rushed to get it done in time. There were wires sticking out everywhere from this talking head, so we covered them up with a fur hat a student had forgotten at the university...and that was that, Furhat was born. We - Jonas Beskow, Gabriel Skantze, Preben Wik and I - founded Furhat Robotics when we started getting
“
If I describe a human as a “robot”, that means they are not social, not friendly, not kind.
”
Furhat is not just a robot. We are building the world’s first robot operating system called Furhat OS, and alongside this, we are developing a conversational platform that allows developers to design conversational experiences for Furhat. It’s a platform for innovation, where developers, designers, and creators of all kinds can build something new, transfer their knowledge and give society new tools. Furhat can be used in recruitment, in healthcare, as a language tutor or teaching assistant, for employee training, as a receptionist - the possibilities are endless.
requests from companies to actually purchase this technology. Our first client was Disney Research. We knew that people wanted robots to be a reality.
What is your vision for the company and more specifically, the Furhat Robot? We are transforming the way humans interact with technology, by reinstating the oldest user interface known to man: face to face communication. We are really more of a user experience company than a robot company. Our mission is to build robots that empower humanity. Even using the word robot can be tricky. If I describe a human as a “robot”, that means they are not social, not friendly, not kind. It’s used as the opposite of what it means to be a human. But what we are doing is the opposite, building a machine that is inspired by humans and is as human as possible.
13
In a similar way to how people develop applications for mobile phones today, the same method will be applied to social robots in the not-too-distant future. We envision that robots will become one of the main platforms and interfaces where a lot of innovation and application development will happen very soon. We really are a community-driven company: what Furhat does tomorrow will largely be driven by our customers.
Are you aware of any recruitment firms that are already using the Furhat Robot in their process? Tengai has been developed in collaboration with TNG, and TNG has now begun selling Tengai as a service. Tengai’s first client was Upplands-Bro, a Swedish municipality, and Tengai conducted its first real job interview in mid-June.
What are the biggest challenges you face in making your product a large-scale success in the recruitment (or any other) industry?
As a recruitment firm, we are intrigued by the role that the Furhat Robot could play in the recruitment process. You claim that the robot can assist with unbiased recruitment - could you talk us through how that works and how easy it is to set up? Unconscious bias is infused in pretty much everything we do, every decision we make as humans. When someone comes in for a job interview, you instantly start judging them - even without realizing it - based on their clothes, their hair, the small talk before the interview begins. Hiring decisions are often not rational and companies can lose out on the best candidates due to human bias and trivialities. Last year, in August, we began an exciting new partnership with Swedish recruitment firm TNG. And in less than a year, the “unbiased interview robot” went from idea to reality. TNG has, with our help, created Tengai, a robot which helps reduce bias in the recruitment process. So Tengai is an application separate program or software which runs on the Furhat robot and the Furhat operating system, but it’s TNG who has created this application, this skill, of using Furhat in recruitment. Tengai is designed to assist recruiters, and conducts interviews focused solely on competence. Tengai doesn’t care - and indeed doesn’t know - what your gender, ethnicity, clothing style, or native language is. The robot doesn’t engage in small talk, but it does give feedback when needed, like nodding or smiling, to encourage job candidates to elaborate. After the interview Tengai makes an objective transcript of the interview, and a human recruiter can then read the transcript and choose the next steps.
14
One of the biggest challenges is just to get people to realize that this technology already exists - that social robots aren’t just the future, they’re already here. We still talk about robots in the future sense, about the impact that they will make on society, but they are already making a difference in many industries. Furhat is being used not just in recruitment but in healthcare, teaching, entertainment - even psychology.
What is the next step in the Furhat Robot’s lifecycle? Furhat is growing very quickly, and we’ve doubled our team over the past six months. We’ve received major EU funding, and are increasing our development partnerships with very exciting companies around the world. In the meantime, we keep developing and perfecting our robots, both in terms of the hardware, the software, and the way they interact - leading the way in how social robot experiences should be designed Every day we are taking significant strides towards our vision: making technology more human.
PaymentGenes Top Job Picks Product Manager Berlin Get in touch with: Diederik Klopper +31 6 42 67 2190 diederik@paymentgenes.com
IT Project Manager Paris Get in touch with: Anna Velly +33 6 48 49 44 61 anna@paymentgenes.com
Head of Partnerships Frankfurt am Main
Head of DevOps/SRE Munich
Get in touch with: Thijs Moser +31 6 40 53 28 18 tmoser@paymentgenes.com
Get in touch with: Borja Gonzalez +31 6 74 51 273 borja@paymentgenes.com
London
Key Account Director FX Amsterdam
Get in touch with: Marek Buenting +31 615642798 marek@paymentgenes.com
Get in touch with: Ronald Vogel +31 6 43 21 3652 ronald@paymentgenes.com
Senior Relationship Manager Booking.com
15
An interview with Mike Woods CEO - Konsentus Mike, tell us a little bit more about Konsentus. Konsentus was founded in January 2018 by three highly experienced individuals who have collectively been working in the payments industry for over 90 years. We identified that there was a need for a simple and easy way for Financial Institutions (FIs) to comply with the new PSD2 regulations for Open Banking. We looked to develop a technology solution with easy integration and low set up costs to support financial institutions with their regulatory and risk management systems in order for them to comply with the new PSD2 regulation when it comes into effect in September 2019.
Can you explain PSD2 Open Banking in a bit more detail and share what this will mean for Financial Institutions? The Second Payment Services Directive (PSD2) comes into force in September 2019 and FIs must comply with the new regulation. Customers of FIs have the legal right to share
16
their data with regulated ThirdParty Providers (TPPs) from this date. This will mean that if a customer requests a FI to share their data with a regulated TPP, the FI needs to do so, only denying access if they believe there is fraudulent activity. As there are no contracts between TPPs and Banks this presents FIs with a highly complex compliance issue – how do they know that the TPP is regulated, the markets they can operate in and that they are indeed who they say they are? This is where Konsentus can help.
“Quite simply, we provide a regulatory and identity checking solution to help Financial Institutions process legitimate transactional requests” Talk us through the Konsentus solution. Quite simply, we provide a regulatory and identity checking solution to help FIs process legitimate transactional requests in the Open Banking ecosystem.
Our Software as a Service (SaaS) solution ensures only regulated entities access FIs’ dedicated interfaces (i.e. Application Programming Interfaces – APIs), systems and data and therefore that their customers’ data is not shared or transacted with unregulated/fraudulent Third Party Providers (TPPs). Our unique platform operates in realtime and is a central system of record of all regulated entities in the EEA, gathering data from 31 National Competent Authorities (NCAs), the European Banking Authority (EBA) registers and connecting to over 70+ Quality Trust Service Providers (QTSPs). It is the combination of the data held on all these systems and registers which enables the FIs to determine whether a transaction request is legitimate or not. There are very low set up costs and integration is simply via an API. We have recently announced a number of FIs who have signed up to the service and we expect as September’s deadline approaches, many more will onboard onto the SaaS platform.
Who is affected by the new regulation?
What markets do you operate in?
All FIs that are regulated and provide online transactional accounts. It doesn’t matter what size they are, they could be credit institutions, Electronic Money Institutions or Payment Institutions such as (Barclays Bank, PSI Pay or Transact Payments). They will all need to ensure that they have the appropriate risk management solutions in place and we are ideally placed to help them with this.
Although this is a global Open Banking opportunity, our immediate focus is on the European market. Demand outside of the UK has been high, so we recently used the services of Payment Genes to recruit some highly experienced payments professionals to work with FIs in local markets.
Mike Woods -CEO
How did you experience the services of PaymentGenes We found the team at Payment Genes to be great to work with. They took the time to understand our requirements and recognised that we needed highly experienced payments professionals who understand not only the payments landscape but how the new regulation will impact our target audience.
If you would like to find out more about the Konsentus solution, you can contact them on: +44 (0)7785 38867 or via email at: enquiry@konsentus.com. Konsentus has also written a number of white papers which shed more light on the problems FIs face as they enter the new era of Open Banking. You can keep up to date with what they’re doing and see the events they will be speaking at on their website: (www.konsentus.com) and through LinkedIn: @Konsentus
Konsentus is a RegTech company that was established to provide Identity & Regulatory checking services to Financial Institutions so that they can comply with PSD2 and open banking. Issued through a SaaS based platform it enables Financial Institutions (ASPSPs) to comply with EU regulation on PSD2 open banking and provide open banking services to their customers, confident in the knowledge that they are only providing data to Third Party Providers (TPPs) who are regulated and have customers’ “explicit” consent to use their data. Headquartered in the UK, Konsentus is creating a world class solution for every Financial Institution in Europe. They are delivering this through utilising the best in open standards, coupled with unique solutions and most of all a belief that they can deliver for clients a cost-effective solution to their regulatory requirements.
17
Re cruit ment . Personifie d .
PaymentGenes exists to help payment and FinTech companies grow.
We build teams across a variety of positions including commercial, product, project, compliance and IT.
Our expertise lies in C-level, senior & middle management, and senior experience roles.
www.paymentgenes.com // info@paymentgenes.com // +31(0)20 223 7888