Article: In 70% underbanked Southeast Asia, startups push for open finance

Money, Open Governance

In 70% underbanked Southeast Asia, startups push for open finance

Brankas, Brick, and Finantier are trying to replicate the Western open banking methods in a fragmented region, with countries like Indonesia and the Philippines, where bank branches are far apart. While big banks are pushing back, investors see promise in these startups.

The startups are building APIs—the plumbing that allows apps to access consumers’ banking and other financial data in a secure way.

Read Full Article