OneConnect Monetary Know-how Co., Ltd. (NYSE: OCFT), a longtime technology-as-a-service platform for monetary establishments, has gained the Platinum Award for Digital Banking on the IFTA FinTech Achievement Awards 2019, “in recognition for the innovation of its OneConnect Bank Solution.”
Daniel Ling, GM at OneConnect’s Hong Kong division stated that the corporate is honored to obtain the award. Ling stated it was a recognition of the Fintech agency’s effort and achievements in successfully utilizing the most recent applied sciences to serve the monetary sector.
“We believe that Hong Kong financial institutions have enormous demand for financial technology innovation, and this market is worth exploring.”
The Institute of Monetary Technologists of Asia (IFTA) is a non-profit entity based mostly in Hong Kong. It was established in 2017 by skilled finance and tech professionals. IFTA goals to help the event of Fintech options whereas additionally creating an ecosystem to attach gifted Fintech professionals with worldwide enterprise alternatives.
As talked about in a launch, the IFTA FinTech Achievement Awards goal to acknowledge people and firms which can be engaged on progressive options that meet enterprise and social necessities.
OneConnect provides Fintech options that goal to help digital transformation methods within the monetary companies sector. The corporate focuses on serving Hong Kong-based monetary establishments together with banks, securities and asset administration corporations.
As famous within the announcement:
“The awarded OneConnect Bank Solution demonstrates OneConnect’s core technologies and advantages. It has impressed the industry with three key features: the Online Bank Account Opening Process, the Online SME Account Opening and loan Solutions, and the Bank Cloud. It incorporates one-stop services that have helped bank clients drive sales, enhance risk management and improve customer service quality.”
OneConnect serves greater than 630 banking establishments and round 100 insurance coverage corporations based mostly in mainland China. The Fintech agency additionally works with greater than 50 worldwide shoppers in over 15 nations and areas throughout the globe. OneConnect’s subsidiaries are situated in Hong Kong, Singapore, Indonesia, and several other different jurisdictions.
As reported in August 2020, OneConnect had partnered with Swiss Re to co-develop a digital end-to-end resolution for motor claims dealing with for the European market.
Earlier this month, Yonglin Xie, the President, Co-CEO & Govt Director at Ping An Insurance coverage (Group) Co. of China Ltd, confirmed that OneConnect Monetary Know-how, a Ping An subsidiary, had been engaged on initiatives to assist small companies.
OneConnect has reportedly dealt with two trillion transactions for shoppers of different monetary establishments, as of June 2020. These transactions embrace 171.5 million checks for fraudulent actions. Additionally they embrace round 5.2 billion credit score threat assessments.
Moreover, OneConnect has been serving main banking establishments and almost all metropolis business banks. It additionally works with many insurance coverage suppliers based mostly in mainland China. The corporate has been capable of serve prospects all through the nation which is residence to round 1.5 billion residents.