SHENZHEN, China, Dec. 11, 2020 /PRNewswire/ -- Leading
technology-as-a-service platform provider OneConnect Financial
Technology Co., Ltd. (NYSE: OCFT) ("OneConnect" or "the Company")
was recognized at the recent FinTech Abu Dhabi Festival for its
technological support of ADGM Digital Lab, a platform of Abu Dhabi
Global Market (ADGM), the award-winning International Financial
In April, OneConnect, an associate company of Ping An Insurance
Group, signed a cooperative agreement with ADGM to provide
technological support for the construction of ADGM Digital Lab,
which is a "digital market" that focuses on financial businesses.
The key role of the Digital Lab is to provide a virtual platform
and resources such as data, application programming interfaces
(APIs), system images and reference architectures. On the platform,
financial institutions and Fintech firms can collaborate to
implement agile iterations and test for innovative financial
The technology used by OneConnect to support the construction of
ADGM Digital Lab is derived from Gamma O, OneConnect's own open platform aiming to
link developers, Fintech services providers and financial
institutions. In addition to sharing advanced technology and
Fintech platform, Gamma O also provides a sandbox testing
environment to drive the innovative transformation of financial
"The ADGM Digital Lab provides a secure and reliable digital
environment that allows Fintech companies to work with
financial institutions to create and test solutions to solve
real-world problems," said H.E. Ahmed Ali
Al Sayegh, chairman of ADGM, in his remarks at the FinTech
Abu Dhabi Festival.
Under the supervision of the central bank and financial
institutions in Abu Dhabi, the
ADGM Digital Lab enables players in the industry — including
financial institutions, startups, regulators, tech vendors,
academics, venture capitalists and government entities — to
identify and address shared challenges together.
H.E. Al Sayegh said that despite
the challenging situation as a result of the pandemic this year,
the number of tech start-ups at ADGM grew by 80 per cent to 291 and
venture capital activity tripled from the prior year.
The platform symbolizes the latest
development of strategic relationships between OneConnect and ADGM
to build a comprehensive digital financial and business services
ecosystem. The agreement is expected to bring more business
opportunities to Middle East and
North African countries along the One Belt One Road initiative and
boost the development of local Fintech innovations.
OneConnect is at the forefront of Fintech. As of June
30, OneConnect had obtained 4,327 patents, 945 of which were
overseas patents, and served over 50 international customers in
over 15 markets.
OneConnect is a leading technology-as-a-service platform for
financial institutions in China. The Company's platform
provides cloud-native technology solutions that integrate extensive
financial services industry expertise with market-leading
technology. The Company's solutions provide technology applications
and technology-enabled business services to financial institutions.
Together they enable the Company's customers' digital
transformations, which help them increase revenue, manage risks,
improve efficiency, enhance service quality, and reduce costs.
Our technology-as-a-service platform strategically covers
multiple verticals in the financial services industry, including
banking, insurance and asset management, across the full scope of
their businesses – from sales and marketing and risk management to
customer services, as well as technology infrastructures such as
data management, program development, and cloud services.