Cloud banking and digitalisation partner for microfinance Musoni System has partnered with Open Finance company Brankas to enhance credit scoring and corporate financing in Asia. Based on the press release information, Brankas is integrated with more than 100 enterprise partners, including banks and fintechs, to help facilitate instant account-to-account (A2A) payments, bank account opening, and secure retrieval of financial data.

The synergy between Musoni’s core banking system and Brankas’ integration network is believed to mark a transformative leap in financial innovation. Musoni – Brankas partnership details The integration seeks to empower financing institutions with enhanced capabilities by incorporating loan management, credit scoring, and collection offerings in a simplified manner. Concomitantly, it provides Musoni customers with an expedited and hassle-free route to access a diverse range of financial products.

The collaboration aims to not only uplift the services of financing institutions and digital banks but also optimise their operations, helping ensure their success in a constantly evolving financial landscape. As per the announcement, the partnership is thought to particularly benefit digital banks and financial organisations that are just entering Asia, and non-financial businesses of the likes of logistics or ecommerce that are introducing an embedded finance experience. Businesses and consumers looking to apply for loans can leverage Brankas’ data APIs to share the financial and bank data that is required for the loan entity in a quick and secure manner.

The loan entities are then enabled to make use of Musoni’s credit checking and collections systems to manage the entire loan process and lastly employ any preferred loan disbursement and payment method, including Brankas’ payment APIs. When commenting on the collaboration, Casper Gottlieb Busch, Head of Global Sales at Musoni System said that the company believes the future of digitalisation in financial serves to rely on the integration of multiple technology solutions. Per their statement, the strategic collaboration marks a milestone in their efforts to revolutionise and enhance the value of financial services in Asia, with the integration helping reduce time to market and integration costs for customers, simplifying operations, bettering customer experience, and expanding product offerings.

The spokesperson further added that together with Brankas, they aim to unlock new opportunities and further contribute to improving the financial services landscape in Asia. Brankas offering and mission An Open Finance technology provider, Brankas offers API-based solutions, data, and payments solutions for financial service providers, such as banks, lenders and e-wallets, and online businesses. The company collaborates with banks to build and manage their Open Finance infrastructure, producing APIs for real-time payments, identity and data, new account openings, and remittances, amongst others.

Its secure Open Banking tech enables online businesses, fintechs, and digital banks to leverage Brankas APIs to create new digital experiences for their users. For more information about Brankas, please check out their detailed profile in our dedicated, industry-specific Company Database. .