Managing finances across multiple banks can be time-consuming, especially for Asset Management Companies (AMCs) and other large institutions. The operational friction—multiple logins, fragmented views, and manual reconciliations—often results in inefficiencies that scale with the business.
This is where OPEN’s connected banking comes in. It offers a consolidated, real-time view of all your business bank accounts in one place, enabling faster decision-making, streamlined operations, and better cash flow control.
Let’s understand in detail.
Why Traditional Banking Workflows Fall Short for AMCs
With the Indian mutual fund industry’s assets under management (AUM) reaching a record ₹68 lakh crore in 2024, the scale and complexity of operations for Asset Management Companies (AMCs) have grown exponentially.
AMCs often work across several banks, various accounts, mandates, and payout schedules. However, the current workflows typically involve:
- Logging into multiple net banking portals.
- Downloading and stitching together statements.
- Relying on teams to manually reconcile balances.
- Lack of real-time visibility into available funds.
- Risk of errors or delays in fund movements.
These inefficiencies can impact liquidity, compliance, and decision-making at scale.
What Is Connected Banking
Connected banking is a digital banking solution that enables businesses to securely connect all their current accounts across multiple banks into one single dashboard. From here, they can view balances, download statements, make payouts, and auto-reconcile transactions without needing to switch between portals.
Unlike traditional banking systems, connected banking delivers:
- Real-time visibility into all linked bank accounts.
- Centralised control over payments and approvals.
- Seamless cash flow tracking across accounts.
- Reduced dependency on manual interventions.
Why AMCs Need Connected Banking
Asset Management Companies deal with large volumes of transactions—whether it’s managing funds, disbursing payouts to partners, or tracking NAV-linked inflows. A connected banking setup can solve for:
- Operational efficiency: Replace fragmented workflows with one unified platform.
- Better visibility: Know your cash position at any time across all accounts.
- Faster reconciliation: Auto-match entries instead of downloading bank statements.
- Tighter controls: Reduce payment errors and manage compliance effortlessly
For CFOs, finance heads, and treasury teams in AMCs, this isn’t just about convenience. It’s about control, accuracy, and scalability. With connected banking, AMCs can move away from fragmented portals and manual operations to a unified system that simplifies banking, reporting, and reconciliation. Let’s see how it works.
How It Works
Step 1: Connect Your Bank Accounts
Log in to the Connected Banking dashboard and link your current accounts across leading Indian banks.
Step 2: Approve Access
Authenticate the connection via your bank’s internet banking portal or through your relationship manager.
Step 3: View, Transact & Reconcile from One Place
Get a consolidated view of balances and transactions. Make vendor or partner payouts, download statements, and auto-reconcile—all from a single platform.
Why Choose OPEN’s Connected Banking
OPEN is India’s only platform connected to 16 of the top 20 Indian banks, offering the most extensive banking integrations in the market. We are also backed by industry-leading security frameworks, including ISO, PCI DSS, AICPA, and GDPR, and are licensed by the RBI and NPCI.
With OPEN, you can:
- View, track, and reconcile transactions—across 16 leading Indian banks
- Download updated bank statements in seconds.
- Initiate payouts to vendors, partners, and employees directly.
- Reduce time spent on reconciliations and approvals.
- Ensure better financial planning with real-time cash flow visibility.
All of this—without the need to switch tabs or portals.
Final Thoughts
Connected banking is more than just convenience—it’s about unlocking financial clarity and control for growing businesses. For Asset Management Companies (AMCs), this means faster execution, better oversight, and a more informed approach to treasury operations. And with OPEN’s connected banking, you’re not just adopting a new tool—you’re transforming the way your organisation handles cash flow. Are you ready to simplify your banking operations? Request integration today.
