Brankas Reports: Southeast Asia's Open Banking Readiness and New Partnership Enhancements

Brankas recently unveiled a new report exploring the readiness for open banking in Southeast Asia, particularly focusing on Thland, the Philippines, and Indonesia.

The Open Banking Readiness Report by Brankas highlights that significant investments in Application Programming Interfaces APIs from financial institutions are crucial for fostering open banking ecosystems.

This document serves as an essential guide for banks, providing insights into current practices and outlining necessary steps to prepare for upcoming open banking initiatives. The report covers a range of topics including API security requirements, documentation standards, and data encryption guidelines.

In another recent development, Brankas partnered with PayMongo, enabling seamless online banking payments through the PayMongo platform that supports top Philippine banks like BDO, Metrobank, and LandBank.

With this partnership, businesses can now benefit from wider payment options facilitated by Brankas via PayMongo. The adoption of such solutions not only enhances user convenience but also promotes financial inclusion across various sectors in the Philippines.

The potential impact of emerging instant payment solutions on the United Arab Emirates UAE is highlighted in another report by Brankas. Instant payments are transforming business operations, boosting competitiveness and driving growth by facilitating faster transactions compared to traditional methods.

Furthermore, the State Bank of Vietnam's draft circular on open banking has presented opportunities for monetization and innovation for banks and financial institutions alike. The document specifies requirements for authentication, encryption, API documentation, and other data security elements that are essential for the implementation of these services.

Additionally, Brankas now offers its Disburse API integration with Bank Central Asia BCA, enabling businesses to facilitate bulk disbursements through their BCA corporate accounts in addition to existing options like Bank Permata. This move expands the range of banking solutions avlable to organizations using Brankas' platform.

We look forward to bringing more updates and insights on open finance, fintech trs, industry news, product features, and much more on our blog at Brankas Blogwww.brankas.comblog
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