Based on the press release information, Brankas is integrated with more than 100 enterprise partners, including banks and fintechs, to help facilitate instant account-to-account (A2A) payments, bank account opening, and secure retrieval of financial data. The synergy between Musoni’s core banking system and Brankas’ integration network is believed to mark a transformative leap in financial innovation.
The integration seeks to empower financing institutions with enhanced capabilities by incorporating loan management, credit scoring, and collection offerings in a simplified manner. Concomitantly, it provides Musoni customers with an expedited and hassle-free route to access a diverse range of financial products. The collaboration aims to not only uplift the services of financing institutions and digital banks but also optimise their operations, helping ensure their success in a constantly evolving financial landscape.
As per the announcement, the partnership is thought to particularly benefit digital banks and financial organisations that are just entering Asia, and non-financial businesses of the likes of logistics or ecommerce that are introducing an embedded finance experience.
Businesses and consumers looking to apply for loans can leverage Brankas’ data APIs to share the financial and bank data that is required for the loan entity in a quick and secure manner. The loan entities are then enabled to make use of Musoni’s credit checking and collections systems to manage the entire loan process and lastly employ any preferred loan disbursement and payment method, including Brankas’ payment APIs.
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