VISA has partnered with technology provider Brankas to adapt openBrankas was tapped by Visa to provide live access to its open data products, which will allow financial institutions to utilize their transaction data to improve their systems.
“With this partnership, businesses are unlocking accelerated transaction processing and payment alternatives to bolster their offerings. We are very excited to team up with Visa to increase financial inclusion across Southeast Asia, and we believe that our joint solutions will do just that,” he added.
“Digital banks, alternative lenders, and e-commerce platforms seeking to enhance their credit decisioning capabilities can now get access to valuable, verified data that reveal a cardholder’s aggregated spend insights and creditworthiness. This dramatically improves risk evaluation methods and enables automated credit decisioning to facilitate faster processing of services such as loans and credit card issuance,” Brankas said.
“Using Brankas’ established banking network in Asia and Visa’s global payment rails, banks and merchants can now provide customers with a new way to make instant payments while saving on transaction fees,” Brankas said.