Brankas teams up to launch chat-based lending solution in Southeast Asia

Open Finance technology provider Brankas has launched a chat-based lending solution in Southeast Asia in partnership with global fintech Boost Capital.

The new service ‘LoanLink’ is a chat interface that offers a fully-digital loan application channel to banks, fintechs, and financial institutions.

LoanLink works by allowing individuals to start the loan application process via chat, then completing an eKYC, before uploading the relevant documentation and, finally, linking their accounts.

Applicants receive approval “within minutes” and are able to manage repayments through the same chat interface.

Brankas and Boost Capital said in a press statement that providing a convenient and efficient method of loan application “guarantees a broader market reach beyond physical branches”.

Todd Schweitzer, chief executive officer of Brankas, said that the solution “sets a new standard for digital lending”.

“Fintechs and businesses that want to enter the lending space can now easily do so by leveraging this out-of-the-box platform,” he added.

“This helps to level the playing field, giving borrowers the power to pick the lender with the best UX and rates.”

Brankas provides Open Banking APIs to facilitate secure and compliant integrations with financial institutions, while Boost Capital offers a white-labeled tech platform that enables banks to onboard customers through chat platforms such as Facebook Messenger, Telegram, and WhatsApp.

Gordon Peters, Boost Capital’s chief executive officer, said: “This partnership is pivotal to advancing digital lending solutions in today’s market.

“Brankas, with its advanced Open Banking technology and deep understanding of API ecosystems, is the ideal partner as we strive to equip banks, financial institutions, fintechs, and other organisations with the tools they need to succeed in a rapidly evolving market.”