Southeast Asia has emerged as a hub for startups, thriving with opportunities for innovation. Embracing open finance is a crucial way for banks and financial institutions to stay ahead of the curve and serve currently unmet customer needs, opening up avenues to serve the underbanked.
The meteoric rise in popularity of e-commerce has been due to its convenience, one of which is having a wide variety of payment options available. The global pandemic has forced individuals to turn to digital means of conducting transactions, but this shift in consumer behavior is here to stay.
More and more companies are seeing the importance of an omnichannel approach to their business model, which allows them to tap into a larger market. Especially in Southeast Asia, e-commerce is a thriving industry with all players aiming to provide the most convenient, innovative, and accessible services to its customers.
Paynamics, a Philippine-based payment provider, has been successfully helping businesses provide easy online payment options with low transaction fees. Through Paynamics, online shopping has never been easier.
Brankas is a proud partner of Paynamics, connecting it to various payment options they do not currently have available. Brankas sets itself apart through utilizing an agnostic payment gateway, versus other providers that connect to each of their partner banks individually. This entails having separate dashboards for each partner. With Brankas, all of our commercial partners’ information are consolidated into one dashboard for easier communication and information sharing. Paynamics uses Brankas’ Direct API to provide seamless bank transfers for its partner e-commerce businesses. Direct allows businesses to have simple and secure bank transfers, providing businesses a competitive advantage that sets it apart. Providing a more streamlined way to reconcile transactions, it allows businesses to focus on what’s most important – its customers.
Direct is currently available in Indonesia, Thailand, and the Philippines. Businesses can replace manual bank transfers as a checkout option, enable direct e-wallet top-ups, expedite loan repayments to multiple banks via a single flow. This allows you to speed up day-to-day transactions, freeing up that time spent manually reconciling data for further innovation and customer-centric activities.
Brankas offers a wide variety of APIs, empowering companies with the tools to facilitate easy bank transfers, statement retrieval, and more.
- Pay : Enables seamless bank transfers. Send customers one-click payable invoices and track their payment status in real-time.
- Statement : Receive comprehensive transaction data from multiple banks. Allows merchants to easily reconcile transactions across multiple corporate accounts.
- Account Opening : Create bank accounts easily. On top of advertising discounts for account holders, these users can open a bank account directly on the merchant’s website.
- To learn about all of our product offerings, check out our website .
Brankas is helping e-commerce companies, traditional financial institutions, remittance companies, and more to simplify their financial processes, providing customers a wider variety of product offerings that are quick, safe to use, and accessible. In doing so, Brankas is shaping the open finance ecosystem in Southeast Asia – a pivotal role that can help businesses adapt to the current digital age.
Open banking is paving the way towards innovative, technologically-advanced opportunities in the financial industry, leveraging on Banking–as-a-service (BaaS) for more streamlined services. Partnerships with other institutions are made more accessible, opening up new revenue streams and ultimately, allowing for better products to suit an expanding and evolving customer base.
Choose from Brankas’ current product options, or have APIs custom built to suit your company’s needs. Whether you are a thriving e-commerce company, just starting out, or anywhere in between, we can provide the tools to help you succeed. Want to learn more about how we’re building open banking in Southeast Asia? Visit https://www.brankas.com/ . Interested in partnering with us or trying out our products? Sign up at https://auth.brank.as/sign-up to learn more about what we can offer. Wherever your business is on its journey, we can help.
If you want to know more about our open banking solutions, please reach out to email@example.com .