OneConnect Recognized in World’s Top Ten Fintech Companies in 2021 in Patent Quality List
SHANGHAI, Dec. 9, 2021 /PRNewswire/ — OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) (“OneConnect”), a key driver of fintech strategy for associate Ping An Insurance Group of China (“Ping An“), has helped the group to top the list of the World’s Top Ten Fintech Companies in 2021 in Patent Quality, followed by Ant Group and Alibaba.
The list recently announced by 01Caijing Research Institute, one of China’s leading research organizations, showcases innovation across the global fintech sector by way of an analysis of the status and the quality of patent applications. 01Caijing also used OneConnect as a case study when compiling the list, in which the research organization conducted an in-depth analysis of OneConnect’s achievements in the intellectual property (IP) sector.
The ranking also demonstrates the degree to which Ping An attaches importance to the research and development (R&D) of key technologies and the gathering of independent IP rights while at the same time furthering the implementation of its fintech and financial ecology roadmap by enhancing its technological capabilities through ongoing R&D investment and ensuring the widespread application of its technologies across the financial sector.
OneConnect, a key driver of Ping An’s fintech strategy, quickly adopted the group’s overall approach to patent acquisition and management by placing a high value on IP applications and protection since day one.
OneConnect’s Technology Capability
As of September 30, 2021, OneConnect had filed 5,229 applications worldwide, of which 3,929 had been filed in China and 1,300 filed in other countries and regions, covering a targeted group of high-tech sectors, among them artificial intelligence, blockchain, big data, cloud computing and information security.
The applications focused on three fields: banking technology (35.89%), asset management technology (25.12%) and insurance technology (12.71%), reflecting the firm’s ongoing commitment to product upgrades through independent innovation.
Through the application of multiple advanced technologies, including emotion detection and machine reading, OneConnect has built an intelligent calling system that features a rich script library, intelligent response, real voice and flexible configuration by enabling intelligent voice interactions that address business challenges facing banks across diversified calling scenarios.
To date, applications have been developed that address seven in-demand business scenarios, including deposit-based wealth management, loan customer acquisition, credit card marketing, payment by installment plans for credit cardholders, follow-up surveys and payment alerts. With this solution, a joint-stock bank upgraded to a smart solution for handling its credit card customer service, effectively shortening the average call duration of its customer service representatives by way of a semantic recognition application with close to 85 per cent accuracy and the ability to handle more than a half a million calls per month.
A Digital Ecosystem
OneConnect has been committed to building a digital ecosystem comprised of government agencies, regulators and companies in addition to empowering digital transformation for financial institutions. The firm formed strategic partnerships whereby the company assists partners in enhancing their regulatory technology intelligence by providing them with advanced technology solutions. Additionally, with extensive experience in digital transformation, the company has deepened its commitment to financial infrastructure by implementing multiple major projects under the aegis of several regulators and government agencies globally.
OneConnect has been expanding into international markets in a move to increase its visibility globally while focusing on serving Chinese domestic financial institutions. To date, the firm has delivered its “created-in-China” technology solutions to over 100 financial institutions in 20 countries and regions, the majority of which are located in Southeast Asia.
OneConnect plans to continue strengthening technological innovation and IP protection while improving its R&D capabilities in technology, with the aim of providing users with higher quality products and services.
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