Brankas & Global Finteq launch Lending-as-a-Service platform in the Philippines

By Gloria Mathias

Brankas and Global Finteq have announced a strategic partnership to launch Lending-as-a-Service (LaaS) platforms in the Philippines.

Established banks, rural banks, and even non-traditional financial institutions will be able to lend at scale as existing loan products can be offered outside of traditional channels, such as physical bank branches or websites.

Any platform managing customer funds can transform into a one-stop shop for new loan applications and in-app loan servicing, fostering “platform stickiness” as users are encouraged to transact and increase deposits repeatedly on these platforms. This translates to revenue growth for both lenders and lending partners.

The new platform leverages Brankas’ multi-bank APIs and Global Finteq’s expertise in developing loan management solutions. With APIs that facilitate account balance sharing, credit assessments, bulk loan disbursements, and automated loan repayments, together with a market-ready loan management platform, Brankas and Global Finteq are expected to accelerate digital lending in the Philippines.

“Our joint LaaS platform represents a win-win-win for lenders, platforms that want to offer an embedded finance experience, and both corporate and private borrowers,” said Todd Schweitzer, CEO and Co-founder of Brankas. “It is especially significant for non-traditional financial institutions who have aspirations to become lenders as we help accelerate the journey to becoming a lender and onboard new borrowers.”

“This partnership signifies a significant leap forward for financial services in the Philippines,” said Mike Yeoh, CEO of Global Finteq. “Our LaaS platform removes traditional barriers to entry, allowing a wider range of institutions to offer lending services. This, along with the secure data exchange and real-time access to financial services facilitated by Brankas and Global Finteq, will be instrumental in empowering underserved communities and fostering financial inclusion across the Philippines.”

Brankas is a global open finance technology provider. It provides API-based solutions, data and payment solutions for financial service providers and online businesses.

Global Finteq is a LaaS model developed to meet the specific demands of a wide range of clients, from small and medium-sized businesses to large organizations looking for refined lending solutions.