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Join the BSP Open
Finance Pilot.
Let Brankas help with
submission.
Determine the readiness of your current API infrastructure for the Bangko Sentral ng Pilipinas (BSP) Open Finance Pilot.
Minimum requirements for Philippine banks and EMIs to qualify for the Open Finance Pilot:
Participating banks must complete the requisite infrastructure preparation, due diligence, and accreditation phases. This requires banks to have secure, reliable, and interoperable APIs for account aggregation, opening, payment initiation, and cancellation.
Banks will also have to demonstrate that their API infrastructure has adequate and secure testing, integration, documentation, and authentication capabilities.
Infrastructure
Comply with BSP-defined rules,
standards, processes, and
infrastructure.
Registration & Testing
Follow registration,
conformance testing, and
reporting processes.
Connectivity
Connect to the Pilot
infrastructure and other
participants when required.
Customer Consent
Obtain and manage customer
consent according to Pilot
standards and regulations.
Developer Portal
Provide a portal for API users to register and for customers to request services.
Reporting
Report to the Pilot Administrator and other relevant bodies.
Security
Ensure secure communication with API users according to Pilot standards.
API Standards
Offer APIs for subscription, account opening, payment initiation, and cancellation following specified standards.
Infrastructure
Comply with BSP-defined rules,
standards, processes, and
infrastructure.
Registration & Testing
Follow registration,
conformance testing, and
reporting processes.
Connectivity
Connect to the Pilot
infrastructure and other
participants when required.
Customer Consent
Obtain and manage customer
consent according to Pilot
standards and regulations.
Developer Portal
Provide a portal for API users to register and for customers to request services.
Reporting
Report to the Pilot Administrator and other relevant bodies.
Security
Ensure secure communication with API users according to Pilot standards.
API Standards
Offer APIs for subscription, account opening, payment initiation, and cancellation following specified standards.
Brankas can help with an API infrastructure gap analysis and complete your application for the Open Finance Pilot.
Brankas offers the only platform for Open Banking compliance and Banking-as-a-Service (BaaS) enablement. For cloud, on-premise, and hybrid deployments. Learn more about Open Finance Suite and our managed services below.
Hear it best from our clients.
Learn how you can accelerate your business with Open Finance.
Our vision is to empower our clients to deliver relevant and customer-centric products that positively impact the lives of customers, and we are proud to partner with a well-established open finance vendor like Brankas to help us achieve our goal.
Samer Soliman, Chief Executive Officer of Arab Financial Services (AFS)
Schedule a call with us today to start your gap assessment, or complete the form below.
Independent of the Open Finance Pilot, we can help any financial institution to prepare its API infrastructure or build BaaS offerings.
About the
BSP Open Finance Pilot
The activities of the PH Open Finance Pilot is governed by the provisions of BSP Circular No. 1122 on the Open Finance Framework, and monitored by the Open Finance Oversight Committee Transition Group (OFOC TG). This collaborative undertaking of financial institutions participating on a voluntary basis is an important initiative in promoting a responsive, inclusive and responsible digital financial ecosystem that is characterized by innovation-driven use of consumer data.
About the
BSP Open Finance Pilot
The activities of the PH Open Finance Pilot is governed by the provisions of BSP Circular No. 1122 on the Open Finance Framework, and monitored by the Open Finance Oversight Committee Transition Group (OFOC TG). This collaborative undertaking of financial institutions participating on a voluntary basis is an important initiative in promoting a responsive, inclusive and responsible digital financial ecosystem that is characterized by innovation-driven use of consumer data.
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