Connect with us

Hi, what are you looking for?


Visa, Brankas partner for open finance solutions

VISA has partnered with technology provider Brankas to adapt open finance into its systems and solutions.

Brankas was tapped by Visa to provide live access to its open data products, which will allow financial institutions to utilize their transaction data to improve their systems.

“The shift to digital banking in Southeast Asia brings increased customer expectations from their trusted financial institutions. We recognize a real opportunity to bring to market a solution to help businesses offer a superior customer experience,” Brankas Chief Executive and co-founder Todd Schweitzer said in a statement.

“With this partnership, businesses are unlocking accelerated transaction processing and payment alternatives to bolster their offerings. We are very excited to team up with Visa to increase financial inclusion across Southeast Asia, and we believe that our joint solutions will do just that,” he added.

Under the partnership, the firms have already integrated the Visa Cardholder Transaction Score (VCTS) and Visa’s range of payment rails to deliver credit decisioning and payment products to pilot customers.

“Digital banks, alternative lenders, and e-commerce platforms seeking to enhance their credit decisioning capabilities can now get access to valuable, verified data that reveal a cardholder’s aggregated spend insights and creditworthiness. This dramatically improves risk evaluation methods and enables automated credit decisioning to facilitate faster processing of services such as loans and credit card issuance,” Brankas said.

Visa and Brankas have also jointly developed a new account-to-account payment solution for domestic and cross-border money movement.

“Using Brankas’ established banking network in Asia and Visa’s global payment rails, banks and merchants can now provide customers with a new way to make instant payments while saving on transaction fees,” Brankas said.

“As a trusted engine of commerce, Visa is uniquely positioned to help people, businesses, and governments make more confident financial decisions and move money securely…  Visa is excited to partner with Brankas and take advantage of its extensive banking network in Southeast Asia to better serve the unbanked and underbanked,” Visa Regional Southeast Asia Group Country Manager Tareq Muhmood added. — L.M.J.C. Jocson

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



A market vendor arranges assorted vegetables inside the Quinta Market in Manila, Sept. 19. Vegetable prices continued to rise in November. — PHILIPPINE STAR/...


More policemen are deployed in Divisoria, Manila as the shopping area is expected to draw bigger crowds ahead of the holidays, Dec. 1. —...


PHILIPPINE STAR/ RUSSELL PALMA By Arjay L. Balinbin, Senior Reporter A PROPOSED MEASURE seeks to require National Economic and Development Authority (NEDA) Board approval...


BW FILE PHOTO THE MANAGEMENT ASSOCIATION of the Philippines (MAP) is seeking the creation of a public-private sector advisory council for various sectors, in...


UNSPLASH THE HOLIDAYS shouldn’t be used as an excuse to binge-eat, warned a dietitian.  Christmas is just around the corner and with it comes...


MANILA Electric Co. (Meralco) has secured a certificate of exemption from the Department of Energy (DoE) from the competitive selection process (CSP) for the...

You May Also Like


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.