Planto Wins ADB’s Award, Empowering Southeast Asia’s SMEs With AI-driven Financial Solutions

KUALA LUMPUR, March 6 (Bernama) -- Planto, a Hong Kong-headquartered fintech company, has been recognised as a winner of the AI for SMEs Challenge by the Asian Development Bank (ADB).

This recognition reinforces the company’s dedication to empowering small and medium enterprises (SMEs) in Southeast Asia with artificial intelligence (AI)-driven financial solutions that make a real impact, according to Planto in a statement.

Planto Chief Executive Officer and Co-founder, Ankit Suri emphasised the transformative power of AI in improving financial access for SMEs, furthering the company's mission to provide smarter solutions for businesses.

Meanwhile, its Co-founder, Apinun Narkhan added that the recognition highlights the potential for collaboration between fintechs and financial institutions to drive lasting positive impacts for SMEs in the region.

Planto’s approach is centred on enhancing credit assessment and expanding funding access for SMEs by ensuring fair, data-driven evaluations. The company also supports financial management and education, equipping business owners with tools to navigate their financial journey with confidence.

By leveraging large language models (LLMs) for digitisation, Planto streamlines financial processes and reduces friction for SMEs, all while preparing them for the future of Open Finance.

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.

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.

-- BERNAMA