Brankas is a SE Asia open banking platform
Overview of Briefing
0:00 – 2:49
Mike opens the demo with an overview of the Brankas mission and geographical focus in APAC. He then explains that the demo will focus on a transfer use case leveraging the DIRECT product.
2:49 – 6:00
Luis enters the fold and starts sharing his screen where he begins to walk through Postman and what we’ll see with the DIRECT transfer demonstration. He explains the simplicity of accomplishing the transfers with just two endpoints. This is clearly a significant decrease in complexity relative to the standard process necessary to achieve transfers.
A discussion of the identifiers in the system and what’s necessary to run the POST and GET APIs for the transfer use case.
6:00 – 7:15
The focus on removing complexity continues with an explanation of how Brankas fits into the open banking ecosystem and how the company is supporting legacy banks that may not have the necessary infrastructure.
7:15 – 9:10
Luis begins executing the demo and explains the Brankas web service that allows for secure identification and authorization. He goes on to share more about the informed and explicit consent required to initiate any payments on the Brankas system.
Brankas brings as much transparency to the process as possible by providing clear explanations of what permissions are being given and what terms of service are necessary to understand.
9:10 – 12:00
At this point in the demo, we reach the online account verification step where the user is prompted for credentials.
Luis goes on to clarify that the online account verification flow is built by Brankas and is made available to their partners.
12:00 – 12:55
The demonstration continues on to the transaction summary page after account verification is complete. At this point, the end user would simply press the confirmation button and move on to authorize the transaction in the user’s native banking app.
12:55 – FIN
Success! The transaction has been successfully initiated and the money is in motion.
In conclusion, Luis reiterates the way Brankas provides their technology to banks that don’t have the stack necessary to achieve many of the open banking necessities required in our current world.
After the demo is complete, the page is redirected back to the Brankas home page bringing us full circle.