What is Planto?

Planto is an innovative digital banking solution designed to empower financial service providers with advanced tools that enhance customer engagement and optimize cross-selling opportunities. By leveraging open banking data and advanced artificial intelligence (AI), Planto offers a suite of solutions aimed at transforming the way businesses and retail consumers interact with financial services. The platform is particularly focused on delivering personalized financial insights, customer intelligence, and wealth management features, making it a valuable asset for banks, fintech companies, and other financial institutions.

Features

Planto's comprehensive feature set is designed to meet the evolving needs of the financial services industry. Below are some of the key features that make Planto a standout solution:

1. Cashflow Insights

Planto generates over 40 cashflow insights and forecasts in just seconds. This feature enables credit decision-making and monitoring, allowing financial institutions to make informed lending decisions based on real-time data.

2. Customer Intelligence

With its no-code, AI-driven segmentation tool, Planto provides businesses with deep insights into their customer base. This feature can lead to an impressive improvement in sales—up to 56%—by enabling better-targeted marketing strategies and personalized offerings.

3. Wealth & Investment Insights

Planto automatically analyzes users' banking transactions to understand their investment preferences at both the product and portfolio levels. This feature helps financial institutions tailor their investment products to better suit individual customer needs.

4. Personalized Financial Insights

By harnessing AI models trained on over 60 million transactions, Planto unlocks personalized insights within banking applications. This capability not only enhances user experience but also facilitates effective cross-selling of financial products and services.

5. White Labelled Financial & ESG Features

Planto offers white-labeled solutions that allow businesses to launch data-driven financial management and Environmental, Social, and Governance (ESG) reporting features. These can be implemented in as little as two months, providing companies with market-tested journeys that enhance customer engagement.

6. Open Banking & IADS Data Utilization

Planto's solutions are designed to take full advantage of open banking and Interbank Account Data Sharing (IADS). This ensures that financial institutions can engage users effectively and cross-sell products based on comprehensive data analysis.

7. API Development and Testing

The platform enables businesses to become open banking ready in a matter of months through its API development and testing services. This feature simplifies the integration of open banking capabilities into existing systems.

8. Custom Solutions and Consultation

Planto offers consultation services that leverage its expertise in product development, technology, and user experience. This allows organizations to customize their financial products to better meet market demands.

Use Cases

Planto's features cater to a wide range of use cases in the financial services sector. Here are some of the most notable applications:

1. Enhanced Customer Engagement

Financial institutions can use Planto's personalized insights to engage customers more effectively. By understanding individual preferences and behaviors, banks can tailor their communication and marketing strategies, leading to increased customer satisfaction and loyalty.

2. Improved Credit Decision-Making

With cashflow insights generated in seconds, lenders can make quicker and more accurate credit decisions. This is particularly beneficial for small and medium-sized enterprises (SMEs) that require timely access to funds.

3. Data-Driven Product Development

By utilizing customer intelligence data, financial institutions can develop and refine products that resonate with their target audience. This leads to more relevant offerings and improved sales performance.

4. Investment Strategy Optimization

Wealth and investment insights enable financial advisors to provide tailored recommendations to clients based on their unique investment preferences. This can enhance the overall client experience and lead to better investment outcomes.

5. ESG Reporting

As businesses increasingly focus on sustainability, Planto's white-labeled ESG reporting features allow financial institutions to provide clients with transparent and actionable insights into their ESG performance.

6. Open Banking Adoption

Planto's solutions facilitate the adoption of open banking practices, enabling financial institutions to leverage customer data for better service delivery and product innovation.

Pricing

While specific pricing information for Planto is not disclosed in the provided content, it is important to note that the platform offers a range of solutions that can be customized based on the needs of the financial institution. Pricing may vary depending on the scale of implementation, the complexity of features required, and the level of consultation services engaged. Organizations interested in Planto's offerings are encouraged to contact the company directly for a tailored pricing proposal.

Comparison with Other Tools

When comparing Planto to other financial technology tools available in the market, several unique selling points set it apart:

1. Comprehensive Insights

Unlike many traditional banking solutions that offer limited insights, Planto provides a holistic view of customer behavior and preferences through its AI-driven analytics. This enables more effective cross-selling and personalized service delivery.

2. Speed of Implementation

Planto's white-labeled features and open banking API development can be implemented in as little as two months, making it a faster solution compared to many competitors that may require longer timelines for deployment.

3. Focus on Personalization

Planto places a strong emphasis on personalized financial insights, leveraging extensive transaction data to deliver tailored recommendations. This level of personalization is often lacking in other financial tools that rely on generic data.

4. No-Code Solutions

The no-code customer intelligence segmentation tool allows financial institutions to easily create and modify customer segments without requiring extensive technical knowledge. This is a significant advantage over tools that necessitate complex coding and IT resources.

5. Market Testing

Planto's solutions are market-tested with open banking data, ensuring that they are effective and relevant for real-world applications. This contrasts with other tools that may still be in development or lack proven use cases.

FAQ

Q1: What types of organizations can benefit from Planto?

Planto is designed for a wide range of financial institutions, including banks, credit unions, fintech companies, and investment firms. Any organization looking to enhance customer engagement and optimize product offerings can benefit from Planto's solutions.

Q2: How does Planto ensure data security?

While specific security details are not provided in the content, reputable financial technology platforms like Planto typically implement robust security measures, including encryption, secure data storage, and compliance with relevant regulations to protect customer data.

Q3: Can Planto be integrated with existing banking systems?

Yes, Planto offers API development and testing services that facilitate the integration of its solutions with existing banking systems. This allows organizations to leverage Planto's capabilities without overhauling their current infrastructure.

Q4: How long does it take to see results after implementing Planto?

The time it takes to see results can vary depending on the specific use case and the extent of implementation. However, Planto's features are designed to provide immediate insights and benefits, particularly in areas like cashflow analysis and customer intelligence.

Q5: Is there customer support available for Planto users?

While specific support details are not mentioned, most technology providers, including Planto, typically offer customer support services to assist users with any inquiries or technical issues they may encounter.

Q6: What is the target market for Planto's white-labeled solutions?

Planto's white-labeled solutions are suitable for any financial institution looking to enhance their service offerings with data-driven financial management and ESG reporting features. This includes banks, fintech startups, and investment firms aiming to provide modern, personalized financial services.

Q7: How does Planto handle ongoing updates and improvements?

As a technology-driven platform, Planto is likely committed to continuous improvement and innovation. This may include regular updates to its features based on user feedback, market trends, and advancements in technology.

In conclusion, Planto stands out as a comprehensive digital banking solution that leverages AI and open banking data to drive customer engagement and optimize financial product offerings. Its unique features, fast implementation timelines, and focus on personalization make it a valuable tool for financial institutions aiming to thrive in an increasingly competitive landscape.