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SINGAPORE, Nov. 24, 2022 /PRNewswire/ Open Finance technology leader Brankas has developed "Brankas Open", a first-of-its-kind open source license for the next generation of Banking-as-a-Service and Open Finance software. The "Brankas Open" license is meant to encourage digital banking and fintech innovation and lower the cost barriers for startups, neobanks, and even traditional institutions to quickly prototype and launch new solutions, while retaining their own source code. Customers will benefit from more choice and better user experience, as companies have open access to use, modify, redistribute, and collaborate on the publicly available Brankas Open code. The inspiration for Brankas Open came when Brankas received a grant from the Monetary Authority of Singapore in November 2021 to develop Brankas APIX Open Core, a proof of concept open source core banking system. Recognizing the need for a modernized Open Source framework to address new Open Finance technol ....

Alex Toh , Kenneth Shaw , Darren Leong , Brankas Apis , Technology Iptech , Monetary Authority Of Singapore , Open Finance , Brankas Open , Monetary Authority , Open Source , Ren Jun Lim , Baker Mckenzie , Singapore Based Intellectual Property , Open Banking , Nov 24 , 022 Prnewswire Open Finance Technology Leader Brankas Has Developed Quot , A First Of Its Kind Open Source License For The Next Generation Banking Asa Service And Finance Software Quot Brankas Is Meant To Encourage Digital Fintech Innovation Lower Cost Barriers Startups , Nd Even Traditional Institutions To Quickly Prototype And Launch New Solutions , Hile Retaining Their Own Source Code Customers Will Benefit From More Choice And Better User Experience , S Companies Have Open Access To Use , Nd Collaborate On The Publicly Available Brankas Open Code Inspiration For Came When Receiveda Grant From Monetary Authority Of Singapore In November 2021 To Develop Apix Core , A Proof Of Concept Open Source Core Banking System Recognizing The Need Fora Modernized Framework To Address New Finance Technology , Rankas Looked To Existing Open Source Licensing Frameworks In Order Develop Brankas Felt That This Framework Was Necessary Protect Community Contributions , Nsure Open Access , Nd Comply With Financial Institutions 39 Data Protection And Security Requirements The Brankas Open License Is Available On Website At Https Www Com Github Openbank Core Quot Allows Our Team To Build Contribute Ina Way That Fair , Nd Open To Independent Developers ,