Brankas selected by Arab Financial Services to strengthen the open finance infrastructure in MENA

Brankas selected by Arab Financial Services to strengthen the open finance infrastructure in MENA

- In this new partnership, AFS will work with Brankas to create direct bank integrations to allow for easy credit scoring, payroll disbursements, account-to-account payments, and new bank account openings.

SINGAPORE /PRNewswire/ -- Brankas, a Singapore-based fintech, today announced that it has been appointed by Arab Financial Services (AFS), the leading digital payment solutions provider and fintech enabler in the Middle East and Africa, to provide new and improved open finance infrastructure in the region.

Brankas is a leading open finance technology company with an established network across the Asia-Pacific region. Founded in 2016, Brankas technology enables embedded finance and banking-as-a-service for the region's top financial institutions and is integrated with over 100 enterprise partners to enable broader financial inclusion.

This new partnership with AFS will see Brankas bring its established open finance practices to MENA to promote more inclusive financial services in countries including Bahrain, the UAE, Saudi Arabia, and Egypt. The APIs that will be made available through AFS' platform are critical in allowing tech platforms to offer essential financial services such as credit scoring, payroll disbursement, account-to-account payments, and new bank account openings.

Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS) said: "Today, AFS already works with over fifty