Managing business finances across multiple banking relationships has long been a frustrating and manual process for many SMEs. Shanghai Commercial Bank is aiming to simplify that experience through a new partnership with fintech firm Planto, introducing an integrated financial management solution that brings account data from multiple banks into a single dashboard. Built on the Hong Kong Monetary Authority’s Interbank Account Data Sharing framework, the platform gives businesses real-time visibility over cash flow, balances and financial performance while strengthening the bank’s digital business banking proposition.
Shanghai Commercial Bank (Shacom Bank) has partnered with fintech company Planto to launch an advanced Interbank Financial Insights solution for its corporate and small-business clients in Hong Kong. Developed on top of the Hong Kong Monetary Authority’s Interbank Account Data Sharing (IADS) framework, the initiative allows commercial clients to consolidate financial data across multiple banking institutions through a single platform. The integration embeds Planto’s corporate financial management capabilities directly inside the Shacom Business mobile application, delivering real-time cross-account visibility, automated cash flow tracking, and intelligent analytics to streamline daily business operations.
The platform directly addresses long-standing operational pain points experienced by small and medium-sized enterprises (SMEs), including fragmented account balances, time-consuming manual bank reconciliations, and complex cash flow forecasting. By authorising data sharing via the HKMA’s IADS protocol, Shacom Bank’s corporate customers can aggregate information from up to 11 different financial institutions inside a unified dashboard. The mobile application features 11 dedicated analytical modules, allowing business owners to monitor real-time total balances, evaluate up to 18 months of consolidated net cash flows, analyse payment cycle patterns, track monthly recurring inflows and outflows, and map out foreign currency expenditures without switching between separate banking portals.
From an institutional standpoint, the data-sharing layer provides Shanghai Commercial Bank with a clearer, real-world view of client financial health, enhancing internal risk management while enabling relationship teams to identify growth opportunities earlier. Mr Ryan Fung, Deputy Chief Executive and Chief of Retail & Digital Strategy at Shanghai Commercial Bank, noted that the bank is committed to leveraging fintech innovations to enhance operational efficiency for local businesses. Jessica Liu, Co-Founder and Chief Executive Officer of Planto, added that combining the IADS framework with intelligent analytics converts days of tedious financial preparation into instant, actionable insights, helping financial institutions deliver scalable digital banking services to their business clients.
What it means for the industry
- Multi-bank data aggregation is becoming a key differentiator for business banking, helping banks move beyond traditional account servicing.
- Open banking infrastructure is creating opportunities for banks and fintechs to deliver value-added financial management tools for SMEs.
- Real-time financial insights can improve cash flow management for businesses while enabling banks to make better-informed lending and relationship decisions.
- Partnerships between incumbent banks and fintech providers continue to accelerate digital innovation without requiring banks to build every capability internally.
- The initiative highlights how data-sharing frameworks are evolving from regulatory requirements into platforms for new commercial banking services.
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