Shanghai Commercial Bank (SCB) and Planto, a leading digital banking solution provider headquartered in Hong Kong, have partnered together to leverage innovative fintech solutions to enhance banking experiences for small and medium enterprises (SMEs) in Hong Kong.
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Through this partnership, SCB and Planto have developed a comprehensive suite of e-banking solutions, including a streamlined online account opening process and an internet banking platform designed to deliver seamless, customer-centric banking experiences. These solutions were created through extensive customer research to address the common challenges and needs that SMEs face regarding their digital banking experiences.
Additionally, the two parties have collaborated to launch the Credit Insights Platform (CIP), developed through HKMA and Cyberport’s Fintech Supervisory Sandbox 3.1 (FSS 3.1) Pilot. This platform harnesses the power of AI and data from Interbank Account Data Sharing (IADS) to provide invaluable credit insights, significantly accelerating the lending decision-making process through enhanced accuracy, deeper insights, and faster processing. Going forward, the two parties will continue to develop additional features and incorporate innovative technologies to address the unmet needs of SMEs.
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“As a customer-centric local bank in Hong Kong, Shanghai Commercial Bank is committed to enhancing digital capabilities to provide seamless online and offline banking services. This partnership reaffirms our dedication to fostering technology innovation and supporting the local startup ecosystem, paving the way for a more dynamic and adaptable banking experience for our customers,” said Ryan Fung, Deputy Chief Executive and Chief of Retail & Digital Strategy at Shanghai Commercial Bank.
“Our collaboration highlights the powerful impact that partnerships between banks and fintechs can have on driving innovation and customer-centricity for SMEs. Planto is excited to continue our work with Shanghai Commercial Bank to enhance digital banking capabilities that meet the needs of SMEs, simplifying the financial management process and empowering them to focus on their business and growth,” said Jessica Liu, Co-Founder and Chief Strategy Officer at Planto.
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Source – Businesswire
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