Banking Fintech News

OneConnect Shares Fintech Insights with Chinese Banks and Fintech Companies

OneConnect Shares Fintech Insights with Chinese Banks and Fintech Companies

OneConnect Financial Technology Co., Ltd. (OneConnect,NYSE: OCFT), a leading technology-as-a-service platform for financial institutions, shared its vision of innovation with the Fintech Association of Hong Kong of the Chinese Banking Association of Hong Kong at a recent video conference.

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Carol Chen, CEO of OneConnect (Hong Kong), and Daniel Ling, General Manager, discussed the company’s technical solutions for popular banking fields, such as remote customer service solutions and customer due diligence with more than 100 executives and industry experts.

As of June 30, 2020, OneConnect, an associate company of the Ping An Group, had served all state-owned banks and joint-stock banks in China, 99% of commercial banks, and 53% of insurance companies.

Ms. Chen and Mr. Ling presented end-to-end fintech solutions for banks, securities, asset management companies and other fintech institutions in mainland China and Hong Kong. These include localized fintech technology services such as smart marketing, smart risk controls, smart operations and fintech centers.

They also covered solutions implemented at Ping An OneConnect Bank, OneConnect’s virtual banking subsidiary: the process for opening a bank account online, opening an online small and medium enterprises (SME) account and loan solutions, and cloud-based core banking, which improves sales, risk management and customer service quality.

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Jessica Tan, Co-CEO of Ping An Group has said that Ping An will continue to increase its investments in technology to bolster its main businesses. “Particularly in terms of fintech, OneConnect will continue to develop and invest in innovative products,” she said.

Ping An uses technology to empower its main financial businesses. In the first half of 2020, Ping An achieved artificial intelligence (AI)-driven product sales of RMB176.3 billion. Its online and technology-powered offline services across the Ping An Group supported 560 million online users.

OneConnect has branches in Hong KongSingapore, and Indonesia and provides services to major banks in ThailandIndonesiaMalaysia and the Philippines. As of June 30, 2020, OneConnect had provided services to or signed cooperation agreements with more than 50 overseas institutions in more than 15 countries and regions.

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