Leader in open finance Brankas has announced that it has obtained both the Operator of Payment Systems (OPS) Registration from the Bangko Sentral ng Philippines and the Payment Service Provider (PJP) Category 3 License from Bank Indonesia (BI) (BSP). The certificates attest to Brankas' compliance with all regional security and regulatory requirements for its Open Finance payment systems.
Without the added expense and hazards of "middleman" settlement accounts, Brankas' broad selection of banking APIs enables immediate and direct payments. Companies that provide e-wallets, online shopping checkout, loan services, insurance, and wealth management use Brankas' payment APIs.
A multi-bank API called Brankas Disburse allows for automated fund transfers for things like salary payments, vendor payments, loan disbursements, and more. Brankas Direct offers retail "cash-in" and collections for recurring subscriptions, fund transfers, and e-commerce. A comprehensive merchant management system called Brankas Merchant Link enables banks and sizable retailers to provide in-house payment processing.
Brankas is dedicated to the security of its open finance solutions and has more than 100 business partners worldwide. Brankas is accredited by ISO 27001 and PCI DSS, and it regularly submits to outside IT audits.
"We understand how important trust is to our customers, that's why it is important that we hold ourselves to the highest standards of security. As a leading open finance company globally, Brankas owes it to our customers to not only demonstrate compliance to internationally recognized frameworks, but also to contribute to the evolving risk management framework for payment systems worldwide." said Todd Schweitzer, CEO and Co-founder of Brankas.
The payment licences enable Brankas to provide its bank partners with end-to-end Open Finance infrastructure, including local and international payments as well as additional banking-as-a-service options like account opening and card issuance.
"Brankas is proud to obtain the PJP license, which confirms our commitment to data security and privacy for both our customers and partners. As we expand our list of embedded finance offerings to support our customers, we want to ensure that we provide the widest bank coverage in the country." said Husni Fuad, Country Manager of Brankas Indonesia.