Planto is selected as the winner of Fintech Innovation Challenge: Leveraging AI for SMEs in SEA by the Asian Development Bank
SINGAPORE, March 06, 2025--(BUSINESS WIRE)--Planto, a Hong Kong headquartered fintech company was named an AI for SMEs Challenge winner by the Asian Development Bank (ADB)! This recognition reinforces the company's dedication to empowering small and medium enterprises (SMEs) in Southeast Asia with AI-driven financial solutions that make a real impact.
Planto's approach is centered on:
✅ Enhancing credit assessment & expanding access to funding – ensuring SMEs receive fairer, data-driven evaluations to unlock growth opportunities.
✅ Supporting financial management & education – equipping business owners with the right tools and knowledge to confidently navigate their financial journey.
✅ Leveraging LLMs for digitization – Streamlining financial processes and reducing friction for SMEs through AI-driven automation.
✅ Preparing SMEs for Open Finance – Laying the groundwork for seamless data sharing and financial connectivity in the evolving financial ecosystem.
Going forward, Planto will be enabled by ADB Digital Learning Labs, sharing various insights with ADB staff and partner banks across Southeast Asia with an aim to strengthen financial inclusion and build a more resilient SME ecosystem.
"At Planto, we believe that AI has the power to transform financial access for SMEs, enabling them to thrive in an increasingly digital world. Being recognized by the Asian Development Bank is a testament to our mission of empowering businesses with smarter financial solutions. We are excited to continue driving innovation, fostering financial inclusion for SME banking in Southeast Asia," said Ankit Suri, CEO & Co-founder of Planto.
"Over 70 million SMEs in Southeast Asia stand to benefit from digitization, AI adoption, and the impending open finance initiatives across the region. This recognition by ADB highlights our belief that the collaboration between financial institutions and fintech can create a lasting impact on SMEs," added Apinun Narkhan, Co-founder.
The grant fund for the fintech innovation challenges was received from the High-Level Technology Fund financed by the Government of Japan and administered by ADB.
About Planto
Founded in 2018, Planto Limited is a fintech company with team members across Asia. Planto offers AI powered data-driven and engaging solutions for both banks and end consumers. The company partners with various financial institutions to develop customer-centric innovative solutions through AI, data and technologies helping banks increase digital engagement, digital sales & operational efficiency.
View source version on businesswire.com: https://www.businesswire.com/news/home/20250305085245/en/
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Ankit Suri, CEOankit@planto.io
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