In the hope of further developing Opening Banking and Open Finance across Asia, the Open Banking Exchange (OBE) has formed an alliance with the Open Finance technology company Brankas.
The Open Banking Exchange was established by the regulatory authority Konsentus in May of this year to leverage the past achievements of Open Banking Europe, and the programme has already celebrated a successful launch in Latin America.
The programme’s newest partner, Brankas, is a prominent provider of Open Finance technology solutions and works closely with digital businesses and financial institutions within the APAC market. Its strategic position and local expertise is expected to facilitate the programme within Asia whilst making it more relevant to regional appetites.
OBE Asia, led by Brankas’ Todd Schweitzer, will bring ecosystem members together through educational events and publications, with support and input from regulators and national banks, to help drive financial inclusion and resilience in the region.
OBE will be sharing best practices from other regions globally as a base in the creation of common standards and rules both at a country-specific and regional level.
“We have a proven track record in supporting the ecosystem in the evolution of Open Banking and Open Finance across Europe, and other international markets,” said John Broxis, Managing Director, Open Banking Exchange. “Each country and jurisdiction are different, so there is no model that fits them all. Through OBE Asia, there will be many opportunities for collaboration and learning and we believe that Todd and his team are best placed to support us in the region.”
Todd Schweitzer, Director of OBE Asia commented: “John and the Open Banking Exchange team have unparalleled experience in enabling ecosystem members to successfully turn regulatory standards and rules into operational reality. We believe that combined with our local market expertise, the Open Banking Exchange Membership Programme can bring real value to the open banking community in Asia.”