Country offices in
Indonesia, Philipines, Vietnam, Thailand, Singapore
Founder(s)
Todd Schweitzer, Kenneth Shaw (CTO)
Funding rounds and investors
Series B, USD 20 million
Insignia Ventures Partners, Beenext, Integra Partners, Visa, AFG Partners, and Treasury International
Business revenue 2021
USD 2.4 million
Year over year growth rate
190%
Number of employees
160
Member of industry association and/or initiative
Todd Schweitzer, CEO
Open Banking Exchange, Director Asia
Co-convenor, Digital Pilipinas
APIX Strategic Advisory Council Member
Chair, Fintech Philippines Assn Open Finance Committee
Mike Dickinson, CPO
AFTECH, Chairman, Open Banking Sub-Working Group (we are members as well)
Awards
Fintech 50 award SME
What are the company's core solutions
Brankas helps companies to build financial products or services, and scale faster and more efficiently. Our products cover payments in and payments out, data, and account opening services.
Our Open Finance API products can be bucketed into three categories of functionalities: data, payment, and product APIs and Branka’s products give customers the ability to utilize their single API platform to unify their multiple services into one. The functions can be categorised as:
Data - alternative credit scoring, wealth management and predictive analytics;
Payments - greater ease in “linking” your financial accounts (bank, ewallet, crypto) to third party apps and also, more cross border payments interoperability, for example Thailand-SG, Indonesia-SG, enabling pull payments. This means greater disintermediation.
Product APIs - end-to-end product onboarding through third party apps, such as account opening, insurance sign-up, investment plan sign-up.
How it works
It works with a stack of products surrounding payments, data, and account opening. Brankas is backed with a wide market coverage throughout Southeast Asia, partnering up with banks and non-nanks. Easily launch your product offering to your end consumers with reliable products that are seamless to your end users' experience.
What problem does the company solve
For financial institutions, Brankas’s API platform unlocks digital capabilities and new revenue streams such as online payments, identity verification and account opening, and by extension scales their reach, especially to users who have historically been difficult to serve with traditional financial services. For fintech companies, Brankas is a bridge to critical data needs for verification or scoring processes that would have otherwise taken much longer to develop and optimize for users.
Across industries and use cases, Brankas offers a compliant, reliable and secure system at scale to simplify the local complexities of building and operating fintech products and services.
Types of supported APIs/API standard supported
We offer SDKs to gain access to our A2A payment and data products through our proprietary Identity Provider - see here.
We provide a dashboard that allows customers to utilise our products with low/no code - e.g. a customer can sign up to our dashboard today, create a URL that they can send to an end user in order to facilitate obtaining access to bank statement data from that end user.
We provide a MSME solution that allows smaller businesses to start taking payments through bank transfers directly into their bank account - no code needed
Industries/target markets
Lending
Wealth management
Payment recollection
E-wallet
Ecommerce
Insurance
Geographical coverage
Indonesia, Philipines, Thailand, Singapore, Vietnam
Number of connected banks
Philipines: 7
Indonesia: 8
Thailand: 2
Account coverage across countries/regions
APAC region - 100%
Number of total end users
~350,000 Unique End Users
Brankas has built our infrastructure and services to be flexible and modular. As a result, it is trivial for us to host the solutions in the cloud, on-premise, or a hybrid approach, allowing us to accommodate client IT policies as necessary.
Software language
Golang, SQL and Vuejs are the core languages in useg
Software development tools
RPC/protobufs, Postgresql, Kubernetes, Docker, LetsEncryppt, DroneCI, Gitea
When was the core technology developed
2017
Technology partners
Visa, Anabatic, Dana
Distribution channels
In-house enterprise sales team, self onboarding, reseller partnerships
Pricing model
Supply-side: Saas platform licensing, revenue sharing
Demand side: Saas per API call
Revenue streams
License fees and usage-based fees
Future developments
Open Finance Suite
Open Core
Merchant Links
Brankas APIX Open Core POC Guide
Key customers
Singapore: AFIN (Monetary Authority of Singapore)
Indonesia: Kredivo, 2C2
PPhilippines: Netbank, Cebuana Lhuillier Rural Bank
Case studies
KlinikGo: How this clinic-as-a-service company is partnering with Brankas to digitize health services in Indonesia
Repayments made easy with bank transfers