{"id":23631,"date":"2025-05-02T15:27:29","date_gmt":"2025-05-02T09:57:29","guid":{"rendered":"https:\/\/open.money\/blog\/?p=23631"},"modified":"2025-06-17T14:33:42","modified_gmt":"2025-06-17T09:03:42","slug":"connected-banking-for-amcs","status":"publish","type":"post","link":"https:\/\/open.money\/blog\/connected-banking-for-amcs\/","title":{"rendered":"Connected Banking for AMCs: A Smarter Way to Manage Multiple Accounts"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">Managing finances across multiple banks can be time-consuming, especially for Asset Management Companies (AMCs) and other large institutions. The operational friction\u2014multiple logins, fragmented views, and manual reconciliations\u2014often results in inefficiencies that scale with the business.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">This is where OPEN\u2019s 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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Let&#8217;s understand in detail.<\/span><\/p>\n<h2><strong>Why Traditional Banking Workflows Fall Short for AMCs<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">With the Indian mutual fund industry&#8217;s assets under management (AUM) reaching a record <\/span><a href=\"https:\/\/www.business-standard.com\/markets\/mutual-fund\/mutual-fund-industry-on-a-high-asset-surges-rs-17-trillion-in-2024-124122400422_1.html?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">\u20b968 lakh crore in 2024<\/span><\/a><span style=\"font-weight: 400;\">, the scale and complexity of operations for Asset Management Companies (AMCs) have grown exponentially.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">AMCs often work across several banks, various accounts, mandates, and payout schedules. However, the current workflows typically involve:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Logging into multiple net banking portals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Downloading and stitching together statements.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Relying on teams to manually reconcile balances.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lack of real-time visibility into available funds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Risk of errors or delays in fund movements.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">These inefficiencies can impact liquidity, compliance, and decision-making at scale.<\/span><\/p>\n<h2><strong>What Is Connected Banking<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Unlike traditional banking systems, connected banking delivers:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Real-time visibility into all linked bank accounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Centralised control over payments and approvals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Seamless cash flow tracking across accounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduced dependency on manual interventions.<\/span><\/li>\n<\/ul>\n<h2><strong>Why AMCs Need Connected Banking<\/strong><\/h2>\n<p><span style=\"font-weight: 400;\">Asset Management Companies deal with large volumes of transactions\u2014whether it\u2019s managing funds, disbursing payouts to partners, or tracking NAV-linked inflows. A connected banking setup can solve for:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Operational efficiency<\/b><span style=\"font-weight: 400;\">: Replace fragmented workflows with one unified platform.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Better visibility<\/b><span style=\"font-weight: 400;\">: Know your cash position at any time across all accounts.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Faster reconciliation<\/b><span style=\"font-weight: 400;\">: Auto-match entries instead of downloading bank statements.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Tighter controls<\/b><span style=\"font-weight: 400;\">: Reduce payment errors and manage compliance effortlessly<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">For CFOs, finance heads, and treasury teams in AMCs, this isn\u2019t just about convenience. It\u2019s 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\u2019s see how it works.<\/span><\/p>\n<h2><strong>How It Works<\/strong><\/h2>\n<p><b>Step 1: Connect Your Bank Accounts<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\">Log in to the Connected Banking dashboard and link your current accounts across leading Indian banks.<\/span><\/p>\n<p><b>Step 2: Approve Access<\/b><span style=\"font-weight: 400;\"><br \/>\n<\/span><span style=\"font-weight: 400;\"> Authenticate the connection via your bank\u2019s internet banking portal or through your relationship manager.<\/span><\/p>\n<p><b>Step 3: View, Transact &amp; Reconcile from One Place<\/b><b><br \/>\n<\/b><span style=\"font-weight: 400;\"> Get a consolidated view of balances and transactions. Make vendor or partner payouts, download statements, and auto-reconcile\u2014all from a single platform.<\/span><\/p>\n<h2>Why Choose OPEN\u2019s Connected Banking<\/h2>\n<p><span style=\"font-weight: 400;\">OPEN is India\u2019s 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.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">With OPEN, you can:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">View, track, and reconcile transactions\u2014across 16 leading Indian banks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Download updated bank statements in seconds.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Initiate payouts to vendors, partners, and employees directly.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Reduce time spent on reconciliations and approvals.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Ensure better financial planning with real-time cash flow visibility.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">All of this\u2014without the need to switch tabs or portals.<\/span><\/p>\n<h2>Final Thoughts<\/h2>\n<p><span style=\"font-weight: 400;\">Connected banking is more than just convenience\u2014it\u2019s 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 <\/span><a href=\"https:\/\/open.money\/connected-banking\" target=\"_blank\" rel=\"noopener\"><span style=\"font-weight: 400;\">OPEN\u2019s connected banking<\/span><\/a><span style=\"font-weight: 400;\">, you&#8217;re not just adopting a new tool\u2014you\u2019re transforming the way your organisation handles cash flow. Are you ready to simplify your banking operations? Request integration today.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"Managing finances across multiple banks can be time-consuming, especially for Asset Management Companies (AMCs) and other large institutions.&hellip;","protected":false},"author":55,"featured_media":23634,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"csco_singular_sidebar":"","csco_page_header_type":"","csco_page_load_nextpost":"","footnotes":""},"categories":[456],"tags":[457],"class_list":{"0":"post-23631","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-connected-banking","8":"tag-connected-banking","9":"cs-entry"},"_links":{"self":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/23631","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/users\/55"}],"replies":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/comments?post=23631"}],"version-history":[{"count":3,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/23631\/revisions"}],"predecessor-version":[{"id":23898,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/posts\/23631\/revisions\/23898"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media\/23634"}],"wp:attachment":[{"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/media?parent=23631"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/categories?post=23631"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/open.money\/blog\/wp-json\/wp\/v2\/tags?post=23631"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}