Brankas, a leading open finance technology provider, has been appointed by Visa as the first regional partner to provide live access to open data products. The two companies have been working together for months on initiatives around data and money movement. We have leveraged each other’s expertise in open finance, global payments and data intelligence.

Todd Schweitzer, CEO and co-founder of Brankas, said: We see a real opportunity to bring to market solutions that help businesses deliver a superior customer experience. Through this partnership, companies are unlocking accelerated transaction processing and payment alternatives to enhance their services. We are very excited to partner with Visa to promote financial inclusion across Southeast Asia. And we believe our joint solution does just that. ASEAN for innovators in other countries who want to do business in our region, who, in the face of deteriorating political or economic conditions, need to temporarily relocate to a place where their culture of innovation is preserved. It is the gateway to “

These open finance products allow financial institutions to leverage currently available transaction data to instantly improve their solution offerings. TrustDecision (Tongdun) and IziData are two of the pilot customers already using the joint solution, and Brankas has successfully integrated the Visa Cardholder Transaction Score (VCTS) and Visa’s broad payment rails into its core solution. , a new out-of-the-box credit determination and payment product.

Digital banks, BNPLs, alternative lenders, e-commerce platforms, and Insurtechs are looking to enhance their credit decision-making capabilities, giving them access to valuable, verified data that reveals cardholders’ aggregate spending insights and creditworthiness. became. This will greatly improve risk assessment methods, enable automation of credit decisions, and expedite the processing of services such as loans and credit card issuance.

Blankus and Visa have also jointly developed a new account-to-account payment solution that enables more ways to move funds domestically and cross-border. Using Brankas’ established banking network in Asia and Visa’s global payment rail, banks and merchants can now offer their customers new ways to make instant payments while saving on transaction fees. For example, e-commerce customers can make secure cross-border payments directly from their bank account without entering their card credentials.

Tarek Mahmoud, Group Country Manager, Southeast Asia Region and Senior Vice President, Global Client Management, Visa, said: Brankas is a company that combines core banking, data, payments and issuance products into his one stack, enabling customers to quickly launch new and innovative solutions. Visa looks forward to partnering with Blankus and leveraging its extensive banking network in Southeast Asia to better serve the unbanked and unbanked.

Brankas is no stranger to enabling growth for over 80 enterprise customers across Southeast Asia in the areas of banking, fintech, payments and e-commerce. Its flagship product, Open Finance Suite, enables financial institutions to open new revenue and distribution channels in a matter of weeks. By becoming API-enabled, these financial institutions will be able to facilitate payment, account opening, lending, and data sharing services with approved third-party partners. In early 2022, Netbank will launch its first digital banking solution suite in the Philippines, based on Brankas’ Open Finance Suite.

Visa previously participated in Blankus’ Series B funding round after Blankus joined Visa’s AP Accelerator program.