'Toqio embeds tell.money into its platform to meet PSD2 requirements'
Tell.money, the fintech solution that delivers innovative and rapidly deployable open banking services for banks and other account providers, has partnered with Toqio, the fintech SaaS platform that enables organizations to build and launch fintech propositions.
Addressing Toqio’s PSD2 (Payment Service Directive Two) requirement to ensure that consumers and SMEs using the services of its clients have access to payments and account information through open banking channels, tell.money has integrated its technology into the Toqio platform.
The legislation under PSD2 is designed to enable consumer access through third-party involvement within an improved customer authentication environment.
The majority of Toqio’s clients need to comply with PSD2 by having a Dedicated Interface, meaning that they are required to have compliant systems to enable ‘Trusted Third Party’ onboarding, consent management, support, regulatory reporting, and publishing of real-time performance web statistics. tell.money takes care of all the PSD2 API related activities.
For Toqio clients, having these capabilities pre-built into the Toqio platform removes development costs and complexities as well as accelerating the time to launch.
David Monty, Founder and CEO of tell.money, commented, “In conjunction with tell.money, Toqio has impressive growth plans, and we are delighted to be working with them in making the proposition for their clients as seamless as possible as far as their PSD2 obligations are concerned.”
Mike Galvin, Co-Founder and CCO, of Toqio added, “Embedding the tell.gateway capabilities into the Toqio marketplace is an important step for us. The obligations set out in PSD2 are frequently a friction point for our clients and taking away this area of concern for them gives Toqio a clear market advantage.”