Company Database - Brankas

Enabling Asia's Open Finance

Brankas is the leading Open Finance technology provider in Southeast Asia. We provide API-based solutions, data, and payments solutions for financial service providers (like banks, lenders, and e-wallets) and online businesses. Brankas partners with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account opening, remittances, and more. With Brankas’ secure Open Banking technology, online businesses, fintech companies, and digital banks can use Brankas APIs to create new digital experiences for their users.

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

Core solution

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

Technology

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

Partners

Technology partners

Visa, Anabatic, Dana

Distribution channels

In-house enterprise sales team, self onboarding, reseller partnerships

Business model

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

Customers/Case studies

Key customers

  • Singapore: AFIN (Monetary Authority of Singapore)

  • Indonesia: Kredivo, 2C2

  • PPhilippines: Netbank, Cebuana Lhuillier Rural Bank

Case studies


Contact Brankas

Singapore
https://www.brankas.com/
sales@brankas.com
Singapore