OneConnect Shares Fintech Insights with Chinese Banks and Fintech Companies

Rhea-AI Summary

OneConnect Financial Technology (NYSE: OCFT) shared its innovative vision during a video conference with the Fintech Association of Hong Kong. The company highlighted solutions in remote customer service and due diligence, showcasing its fintech services to over 100 executives. As of June 30, 2020, OneConnect served all state-owned banks in China and 99% of commercial banks, emphasizing its reach. The Co-CEO of Ping An Group announced ongoing investments in fintech, with OneConnect focusing on innovative products and services for banking and finance.

Positive

• OneConnect serves all state-owned banks and 99% of commercial banks in China.
• The company has established branches in Hong Kong, Singapore, and Indonesia, with over 50 overseas cooperation agreements.
• Investment in innovative fintech products is expected to continue, as stated by Ping An Group's Co-CEO.

Negative

• None.

HONG KONG, Oct. 20, 2020 /PRNewswire/ -- 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.

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.

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 Kong, Singapore, and Indonesia and provides services to major banks in Thailand, Indonesia, Malaysia 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.

View original content:http://www.prnewswire.com/news-releases/oneconnect-shares-fintech-insights-with-chinese-banks-and-fintech-companies-301155611.html

SOURCE OneConnect

FAQ

What services does OneConnect offer to banks and fintech institutions?

OneConnect provides end-to-end fintech solutions, including remote customer service, customer due diligence, smart marketing, risk controls, and cloud-based core banking.

How many banks does OneConnect serve in China?

As of June 30, 2020, OneConnect served all state-owned banks, 99% of commercial banks, and 53% of insurance companies in China.

What was the focus of the recent video conference involving OneConnect?

The video conference focused on fintech innovation and technical solutions for banking, attended by over 100 executives and experts.

What regions does OneConnect operate in outside of China?

OneConnect has branches in Hong Kong, Singapore, and Indonesia, and provides services to major banks in Thailand, Malaysia, and the Philippines.

What commitment did Ping An Group make regarding technology investments?

Ping An Group committed to increasing investments in technology to support its core businesses and foster fintech innovations through OneConnect.