Brankas, an open finance platform provider, has launched a solution aimed at simplifying open banking compliance for financial institutions in Asia Pacific.
The presentation was held at the following venue. Singapore Fintech Festival 2024 (SFF 2024)Brankas therefore announced a platform that integrates its API suite with ADVANCE.AI’s electronic Know Your Customer (eKYC) technology.
The platform is designed to support banks as they adapt to emerging open banking regulations across the region.
These include Indonesia’s BI-SNAP guidelines and the broader Indonesia Payment System Blueprint 2025 (BSPI 2025), as well as regulations being developed by the National Bank of Vietnam and Pilipinas Bank.
Brankas’ platform addresses key compliance requirements such as API standardization, authentication, and encryption.
ADVANCE.AI’s technology integration provides capabilities such as real-time identity verification, fraud detection, and risk assessment to help financial institutions securely meet regulatory requirements.
These tools are also intended to reduce the risk of fraud and fraud.
In addition to compliance, the platform offers financial institutions the opportunity to develop products such as payment solutions, loyalty programs, and joint credit cards.
These services are designed to meet evolving banking needs while providing financial institutions with an avenue for growth.
Blancas and Advanced.AI is showcasing this platform at SFF 2024.
Featured image credit: Advance.AI
