The partnership between Musoni System and Brankas represents an exciting development in the field of financial technology and open finance. Here are some key points about this collaboration:
- Integration Network: Brankas has an extensive integration network with over 100 enterprise partners, including banks and fintech companies. This network enables instant account-to-account payments, bank account opening, and secure retrieval of financial data.
- Enhanced Capabilities: The integration of Musoni’s core banking system with Brankas’ network offers a transformative leap in financial innovation. It allows Financing Institutions to seamlessly incorporate loan management, credit scoring, and collection services, empowering them with enhanced capabilities.
- Access to Financial Products: Musoni customers will benefit from a fast and streamlined route to access a diverse range of financial products through Brankas’ network.
- Optimized Operations: This collaboration optimizes the operations of financing institutions and digital banks, ensuring that they can remain leaders in an ever-evolving financial landscape.
- Beneficiaries: The partnership is particularly beneficial for nascent digital banks and financial organizations entering the Asian market. It also extends benefits to non-financial businesses, such as those in logistics or e-commerce, looking to offer embedded finance experiences.
- Data Sharing for Loans: Businesses and consumers seeking loans can use Brankas’ data APIs to securely share the financial and bank data required for loan applications. Musoni’s credit checking and collections systems can then manage the entire loan process.
- Payment Integration: The partnership also offers flexibility in loan disbursement and payment methods, including using Brankas’ payment APIs.
- Reduced Time to Market: The integration significantly reduces time to market and integration costs for customers, streamlining operations, enhancing the customer experience, and expanding product offerings.
- Vision: Musoni System aims to revolutionize and enhance the value of financial services in Asia through this partnership. They believe that the future of digitalization in financial services relies on the seamless integration of multiple technology solutions.
- About Brankas: Brankas is a global open finance technology provider that offers API-based solutions, data, and payments solutions for financial service providers and online businesses. They work with banks to build and manage open finance infrastructure, providing APIs for various financial services.
- About Musoni System: Musoni System is a digitalization partner for microfinance institutions worldwide. They offer fintech solutions to improve efficiency and extend outreach. These solutions include a cloud banking system, digital field application, and Open APIs capabilities.
This partnership reflects the ongoing evolution of financial services, with a focus on enhancing the customer experience, reducing costs, and expanding the range of available financial products in the Asian market.