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Brankas partners with Integra to publish a guide on open finance

By Leandra Monteiro

July 29, 2021

  • America
  • Brankas
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Brankas, Open Finance, Integra, white paper, Southeast AsiaBrankas, one of Southeast Asia’s leading Open Finance technology company recently participated in a joint publication with Integra Partners, a venture capital firm based in Singapore to publish a white paper titled Embracing Open Finance in Southeast Asia.

As financial institutions in Southeast Asia are discovering new digital-first commercial models and opportunities, boundaries of finance and core model of banks are challenged. This paper by Brankas and Integra Partners identifies the commercial opportunities and explores how banks and financial service providers can overcome these challenges.

COVID-19 pandemic has accelerated the importance of digitalisation as banks look to serve their customers in new ways during lockdowns and quarantines while customers are increasingly looking to access financial products and services on their own terms and on their own devices. With open banking technology, open finance; permissioned data-sharing are enabled to service a wide range of financial products and services. Key concepts and definitions of open finance are discussed in this paper, expanding to how banks can benefit from open finance.

Case studies referencing banks, financial service and eKYC providers in Southeast Asia such as CIMB Bank, Komo by East West Bank, Unionbank, TMRW by UOB, GCash, Meniga, Cebuana Lhuillier, Tokopedia and Singpass are studied as examples of open finance.

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