Open banking and open finance are buzzwords in fintech but what is it? We invite you to experience open finance on Brankas Dashboard. We listed 5 easy steps to get you started and testing on Brankas APIs.
Last year, Brankas was awarded the Monetary Authority of Singapore (MAS) Financial Sector Technology and Innovation (FSTI) Proof-of-Concept (POC) grant to back the development of an innovative open-source core banking system (CBS), designed to help traditional and digital banks, fintechs, cooperatives, and non-bank financial institutions (NBFI) provide reliable financial services in the emerging markets.
Since receiving the award, we are now more than excited to introduce Brankas Open Core: an integrated, cloud-based CBS designed to streamline your operations, allowing you to build a suite of financial products for your customers’ needs.
What is Brankas Open Core?
Brankas Open Core is a core platform that gives you all the functionalities to build an all-in-one digital financial service experience. Our extensive set of components offers flexibility to implement financial functionalities custom-suited to your businesses. From onboarding new accounts, servicing loans, to generating reports for your CRM, Brankas Open Core is made for you to deploy quickly and securely.
Brankas Open Core components include:
- Client Onboarding and Management
Our systems are designed from the ground up to handle different client types, from retails to corporates. We streamline your onboarding process to improve efficiency and help you manage your data easily, allowing you to successfully onboard more customers in less time.
Our platform can handle a large volume of daily transactions, from cash-in/cash-out operations, fund transfers, to P2P or P2M transactions. All transactions within your and your agent network’s channels can be viewed as a list or with specific details.
- Loans Management
Our entirely configurable loans management system enables you to offer your clients loan servicing tasks via digital channels. This includes loan origination - from application to approval - booking to repayments. Our integrated components are designed to work seamlessly in managing all loans issued to your clients.
- Agents and Partners
Our system is scalable to fit your business requirements - empowering your institutions to build and manage an agent network expanding beyond your core business.
Is Brankas Open Core Affordable?
Brankas Open Core is designed to disrupt the banking status quo and make financial management more affordable. Currently, for many financial institutions and fintech companies in emerging markets, a core banking system remains a costly and challenging aspect where the cost of licensing often exceeds the potential value of the business.
Our cloud-based CBS is built in an open-source environment without licensing costs, allowing your business to grow with us. We offer an affordable and flexible pricing structure, catering to financial institutions of all sizes.
“We are currently offering heavily discounted fees for financial institutions who would like to join the pioneer round of Open Core adopters. Reach out to email@example.com to learn more.”
Benefit from Brankas’ Networks and Experts
Brankas Open Core gives you the flexibility to tap into Brankas’ growing network of partners. With over 90% coverage in Indonesia, the Philippines, and Thailand, we provide access to a self-service API portal and sandbox for developers in the region.
Our team of Open Finance pioneers - seasoned engineers, product managers, and business development managers - is available to help you manage everything from migration to implementation and maintenance, allowing you to deliver digital financial services and further drive financial inclusion in the region.
Want to get started with Brankas Open Core? Learn more about how our technology could achieve your financial service digitalization goals here.