Brankas is taking cues from their counterparts in the U.S. and Europe to become the digital banking platform for Southeast Asia; the company graduated from Plug and Play where they were a service to manage bank accounts; they now want to be the plumbing of digital banking, like Plaid, Tink and Bud; “What we’re doing is similar to banking API infrastructure,” Brankas CEO and co-founder Todd Schweitzer told TechCrunch in an interview. “The difference being that in Southeast Asia it is very early days and little to no regulation.”; the firm sees two groups of clients, banks and other financial institutions and e-commerce platforms; they have already made some headway with bank partnerships in Indonesia, the Philippines and Vietnam; the company also has dozens of e-commerce, consumer finance and insurance customers as they try to digitize an area of the world that needs it badly. Source.
