London based Openitio announces out-of-the-box compliance technology for PSD2 Fallback/MCI readiness

SHOREDITCH, U.K. - EntSun -- Under the PSD2 Regulatory Technical Standard (RTS), unless ASPSPs have received a specific exemption from local NCAs, they must publish a compliant interface for the PSD2 fallback, also known as a Modified Customer Interface (MCI) within applicable regulatory timelines for PSD2.

The Openitio MCI meets all specifications for the PSD2 fallback out-of-the-box, including identification and validation of PSD2 Third Party Providers (TPPs) across the UK and Europe.

Available as both on-premises or cloud-hosted and managed editions, the Openitio MCI can be deployed in days. CTO Bhupinder Saini explains how the product has been designed to guarantee bank CIOs stress-free setup and installation: "We've built the MCI to leverage UK and European TPP directories in a way that allows rapid implementation, in a zero-touch format, with absolutely no impact on a banks existing systems".

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The Openitio MCI is the fastest way for PSD2 ASPSPs to meet obligatory publishing requirements, out-of-the-box, with installation timelines in days not months.

About Openitio
London headquartered Openitio have deep expertise in technology platforms and interfaces that helps banks comply with obligations and compete in the Open Banking and Open API-centric world. We deliver PSD2 interface technology fast, simplifying MCI, API & IAM technology deployments so banks can focus on their business.

Contact: Bhupinder Saini, bhupinder@openitio.com or Hannah Davis: hannah.davis@openitio.com