SHENZHEN, China, Nov. 24, 2021 /PRNewswire/ -- OneConnect
Financial Technology Co., Ltd. (NYSE: OCFT) ("OneConnect"), a
leading technology-as-a-service platform for financial institutions
and an associate of Ping An Group, has today released Gamma Core,
its latest core banking system for financial institutions. Gamma
Core is designed to help banks undergo a complete top-to-bottom
digital restructuring in order to upgrade their underlying
architecture, business processes and core systems.
Gamma Core is underpinned by the concept of three "ones", the
first of which is one bank for all customers. Under this system,
banks adopt a customer-centric approach where different customers
are grouped into clustered Digital Services Unit (DSU) server nodes
such as retail customers or enterprise clients. Using these
clusters, banks will gain the capabilities necessary to provide
unique and tailored product innovations for each group, while still
consolidating all its customers into a single bank for
everyone.
"The bank of the future needs to be more customer-centric than
ever to help clients meet their personalized financial needs and
access better services at any time and location. Digitalization,
intelligence and transparency are fundamental pillars of the new
digital economy, and banks seeking to thrive in the future will
need to embrace these ideas within their core systems," said
Li Jie, Chief Technology Officer of
OneConnect.
The second "one" refers to the RMB
1 single account operating cost. With a fully distributed
design, flexible resource allocation based on customer value, and
low-cost servers, Gamma Core significantly reduces operation and
maintenance costs and streamlines efficiency. And Gamma Core's
third "one" promises that only 1 percent of transactions will
require human intervention as a result of intelligent distribution
via a smart display engine; intelligent risk control based on a
smart analysis engine; and intelligent governance under the smart
search engine.
The large-scale emergence of fast, intelligent, user-friendly,
digital, cashless and contactless finance is revolutionizing the
banking industry. By 2024, the digital transformation market for
Chinese financial institutions is expected to exceed RMB 400 billion (US$ 62.6
billion). As a FinTech industry pioneer, OneConnect is a
strong advocate for the digital economy and believes that in three
to five years online business, digitalization, intelligence and
transparency will shape the future of banking.
However, traditional banks risk being left behind in terms of
digital strategy, operation and execution. A McKinsey survey of
nearly 30 leading banks around the world found that when banks
build digital businesses, they must first establish a
customer-oriented, channel-focused and agile core IT infrastructure
system to support their efforts.
In response to these trends, Gamma Core was created with a
vision to accelerate the industry's development and transformation,
and to help banks upgrade their core systems, empowering them with
the capabilities and assistance needed to achieve financial
growth.
"We are excited to start this new journey with Gamma Core to
drive sustainable growth which will see us continuing to dive
deeper into the financial industry with the most cutting-edge
technology, extensive experience and profound understanding of the
industry," said Shen Chongfeng, CEO of OneConnect. "We hope our
Gamma One Bank Platform becomes the wing of technology innovation
that better fuels financial institutions' digital transformation
and takes the quality of customer service and internal management
to the next level."
END
About OneConnect Financial Technology
OneConnect Financial Technology Co. Ltd. is a
technology-as-a-service platform for financial institutions. The
Company is a Chinese national high-tech enterprise and was listed
on the New York Stock Exchange in 2019 (NYSE: OCFT). The Company
integrates extensive financial services industry expertise with
market-leading technology to provide technology applications and
technology-enabled business solutions to financial institutions.
The Company's solutions enable its customers' digital
transformations, which help them to improve efficiency, enhance
service quality, and reduce costs and risks.
OneConnect is an associate of Ping An Group. By leveraging Ping
An Group's over 30 years of extensive experience in financial
services, the Company has established long-term cooperation with
financial institutions to addresses their needs of digital
transformation. The integrated solutions and platform the Company
provide include digital retail banking solutions, digital
commercial banking solutions, digital insurance solutions and the
Gamma Platform, which is a technology infrastructure platform for
financial institutions. The Company has also expanded its services
to government, regulatory and enterprises to support the digital
transformation of the financial services ecosystem. In addition,
the Company has successfully exported "Made in China" technology solutions to overseas
financial institutions. The Company has served 100+ customers in 20
countries and regions mainly in Southeast
Asia.
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SOURCE OneConnect