Open Ecosystem RegTech provider, Konsentus, launches in its first MENA regional market – Saudi Arabia – to offer open data infrastructure and technology services to regulators and FS providers
RegTech provider, Konsentus, has established its MENA regional base with a presence in the Kingdom of Saudi Arabia. The company will provide open data infrastructure and technology services to regulators and financial service providers.
The Konsentus Open Trust Platform (OTP) enables governments and institutions to implement safe and secure open ecosystems quickly and easily via end-to-end rules, processes, technology and tools. Enabling financial institutions to transact safely and securely within the open banking and open finance ecosystems, the platform offers centralised services with robust checks and balances across all core components, irrespective of individual access permissions held.
Additionally, the startup’s SaaS technology solutions provide a protected environment for data and funds to be exchanged in a reliable, consistent, and automated way. Thus, the system has built-in data insight and monitoring across all ecosystem participants. It can provide intelligence on activity trends as well as send alerts of potential issues or system performance.
Moreover, visibility and management support tools give scheme owners full oversight and control over every different component of the governance model.
Konsentus MENA team, led by Saleh Alhammad is collaborating closely with key stakeholders across the region, to explore how Konsentus OTP can deliver protected open ecosystems to jurisdictions across MENA.