Okay to launch in the UK by partnering with the Open Banking community
Okay, the fully compliant ‘Strong Customer Authentication’ (SCA) platform that verifies customers’ identity, is the newest sponsor of Open Banking Excellence (OBE), the world’s leading community and voice for fintechs, banks, bigtechs and other institutions building an emerging dynamic sector introduced through Open Banking, a new financial services legislation.
Okay will join a growing roster of premier industry sponsors: Mastercard and Railsbank, OBE’s headline sponsors, and Token and TrueLayer, the two other community sponsors.
On behalf of OBE, co-founder and chief excellence officer Helen Child said, “We are delighted to have the support of Okay, who are leaders in the field of customer authentication, which plays an important role in payment innovation and safety. This is particularly important right now as the number of consumers using digital payments has ballooned during the coronavirus lockdown.”
Open Banking Excellence is a platform to meet, share, learn and collaborate with like-minded open banking and open finance pioneers from around the world working together to create better financial services and encourage innovation for the benefit of consumers.
Fabien Ignaccolo, CEO of Okay, added, “We see the Open Banking Excellence community as key in pulling together experts in the industry to draw out genuine excellence. As banking becomes more and more digital, we need the best standards embedded into banking as a whole to protect customers from fraud while delivering outstanding levels of service. We are delighted to be joining them as a sponsor.”
Okay is a fully PSD2-compliant strong customer authentication platform, incorporating the requirements of the second stage of the European Payment Services Directive. The Directive looks at increasing customer rights in areas including complaints handling, new rules on surcharging and currency conversion, enhanced security through SCA criteria and enablement of third-party access to account information, providing a framework for new payment and account services.
“Okay is well placed to contribute to our growing global OBE community,” added Helen Child, “And to support us as we focus on deeper education and more collaboration.”
Okay is headquartered in Oslo, Norway, and has offices in Skien (Norway) and Paris (France).