Shanghai Commercial Bank Taps Planto For Cross-Bank Account Analysis

Shanghai Commercial Bank has partnered with fintech firm Planto to launch a cross-bank account analysis function for corporate clients, using the Hong Kong Monetary Authority's account information connectivity framework. Ming Pao reported that the service was introduced at the start of the year through the bank's corporate banking mobile app. The function allows clients to consolidate account data from multiple banks, giving them a fuller view of their overall financial position, improving cross-account transparency and strengthening risk management.