[5th Jan 2022] - Brankas, Southeast Asia’s leading Open Finance technology company, announced the close of its US$20m Series B investment round led by Insignia Ventures Partners with participation from existing investors Beenext and Integra Partners.
The new partnership between Brankas and Metro Pacific Tollways (MPT Mobility) allows MPT DriveHub users to reload their e-wallets using their bank accounts via Brankas Direct.
Manila, Philippines, 18 April 2023 — Open finance leader Brankas has announced a new integration that will allow MPT DriveHub app users in the Philippines to reload using their active Philippine bank accounts. MPT DriveHub users can now choose from a wider range of reloading options as they top up their RFID accounts, with which their transaction history can be accessed too. Brankas and MPT Mobility expect the new integration to attract new app users, who will benefit from lower service fees when reloading through the app.
MPT Mobility, the innovations arm of Metro Pacific Tollways Corporation (MPTC), enables Filipinos to travel more easily through its efficient, effective, and modern mobility solutions through one of its arms — MPT DriveHub, an all-in-one travel companion app that offers a variety of mobility solutions to improve motorists’ travel experience.
“Lower service fees are part of the brand’s commitment to improving the user experience within the app and making real-time reloading more accessible and convenient. We listen to our motorists’ needs and act on what we can, harnessing our resources and the power of digital technology.” said Gines M. Barot, AVP for MPT DriveHub Operations.
Brankas' APIs are used by companies offering e-wallets, online shopping checkout, lending services, insurance, and wealth management. Brankas Direct enables collections and retail “cash-in” for e-commerce, fund transfers, and recurring subscriptions. In MPT DriveHub, Brankas Direct gives users a seamless RFID reloading experience without needing to leave the mobile app.
“Our mission at Brankas is to provide modern and secure open finance technology that empowers our partners to create world-class solutions. The new bank integrations allow MPT Mobility to serve more motorists in the Philippines through more reloading options. In the spirit of financial inclusion, Brankas is proud to be contributing to the widespread adoption of the MPT DriveHub app,” said Todd Schweitzer, Brankas CEO and Co-founder.
In addition to providing digital payment solutions for a tollway company, Brankas’ open finance solutions are used in ride-hailing, agriculture, insurance, and healthcare companies to power digital transformation. This diverse range of open finance industry applications was also displayed at the Open PHinance Challenge in 2022, which saw applicants from industries including public utility vehicles (DyipPay), HR (Betterteem), and farming (Cropital). The 8-week accelerator program in the Philippines was launched by Brankas and Kaya Founders.
Brankas is a leading global open finance technology provider. 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.
About the Metro Pacific Tollways Corporation
Metro Pacific Tollways Corporation (MPTC) is in the business of developing and operating toll roads in the Philippines, Indonesia and Vietnam. It is the biggest toll road developer in the Philippines, with a current portfolio of tollways that includes the North Luzon Expressway (NLEX), the Subic-Clark-Tarlac Expressway (SCTEX), the Manila-Cavite Toll Expressway (CAVITEX), Cavite-Laguna Expressway (CALAX), Cebu-Cordova Link Expressway (CCLEX) and the NLEX Connector Road (NLEX Connector).
MPT Mobility houses products and services to satisfy the customers’ mobility needs and enhance their experience. It has seven business units under its fold, namely account management company Easytrip Services Corp., centralized customer response organization One Hub, expressway rest stop firm MPT Drive & Dine, outsourced manpower provider Southbend Express Services Inc., out of home advertising unit Spot On, parking solutions company Dibz, and innovation and diversification unit Business Development. MPT Mobility also maintains and operates the tollway group’s newest mobile application, MPT DriveHub.
About MPT DriveHub
The new mobility app from MPT Mobility is set to change the way Filipinos look at driving. With features like easy real-time RFID reloading and tap and track account management, and emergency roadside assistance, drivers and motorists can look forward to smoother rides.