SHANGHAI, Jan. 9, 2022 /PRNewswire/ -- OneConnect Financial
Technology Co., Ltd. (NYSE: OCFT) ("OneConnect"), a leading
technology-as-a-service platform for financial institutions has
today announced it has entered into a strategic partnership with
Chengfang Financial Technology Co. Ltd., (abbreviated as "Chengfang
Financial Technology"), a financial technology company established
by the People's Bank of China
("PBOC"). Working with shared principles of equal collaboration,
joint development, honesty and trustworthiness, both parties will
work together to address common pain points in the financial
industry, deliver technological innovations, and enhance data
processing and governance.
Under the agreement, OneConnect and Chengfang Financial
Technology will harness cutting-edge technologies -- including
AI, cloud computing and big data -- to explore new
applications for data privacy technology in bank surveillance
systems, promote the introduction and sharing of new data
standards, and identify the financial data collaboration and
circulation models needed by businesses to meet the requirements
for secure cloud computing. In addition, the two parties will carry
out research and development in areas such as secure computing
technology, blockchain, and graph data; as well as nurture and
cultivate new FinTech talents for the future.
"This partnership with Chengfang Financial Technology is a
significant step forward for OneConnect. China's digital banking sector has
continuously remained at the forefront of digital transformation,
and technology is at the core of its integrity and innovation. As a
FinTech B2B business, OneConnect upholds its responsibility to
promote the development of the financial services sector. Together
with Chengfang Financial Technology, we will continue to adhere to
our ongoing mission: to develop and empower the industry with our
unique combination of professional expertise and technology, in
order to build a new way forward for digital banking," said
Wangchun Ye, Chairman of
OneConnect.
A subsidiary of PBOC, Chengfang Financial Technology is
entrusted with the construction, operation, and maintenance of the
digital banking system for China's
central bank. The company performs resource scheduling and
operation management for PBOC's network and data centers, and
operates its data transfer management platform to provide the
entire system with services ranging from network communications and
infrastructure to systems maintenance and data transfer. Its
partnership with OneConnect promises to accelerate the
digitalization of China's banking
sector, and cements OneConnect's position as a leader in digital
financial development.
As the world's leading technology-as-a-service platform for
financial institutions, OneConnect harnesses cutting-edge
technologies to improve efficiency and services for banks,
government agencies and exchanges, while also reducing costs and
minimizing risk. OneConnect helps providers accelerate digital
transformation across four key pillars: the construction of a
digital ecosystem, the cultivation of green finance, the
integration of the Greater Bay Area, and the continued development
of the FinTech sector.
In addition to its partnership with Chengfang Financial
Technology, OneConnect has established strategic alliances with the
China Securities Regulatory Commission's Technology Supervisory
Bureau, Insurance Asset Management Association of China, and China Insurance Asset Registration
and Trading System Co., Ltd. The company has also successfully
implemented major FinTech projects around the world, including the
Hong Kong Stock Exchange's FINI IPO settlement platform, Singapore
Stock Exchange's ESG platform, a corporate financing platform for
small to medium-sized enterprises in the Guangdong province, Hong Kong's trade finance linkage platform,
Guangxi Province's cross-border
digital finance platform, the Hainan Provincial Financial
Supervisory Bureau's smart integrated financial services platform,
and more.
OneConnect has also been aggressively exploring and leading the
development of privacy computing in recent years, leveraging its
advantages in privacy computing technology and cooperation
practices. The company has won China Merchants Bank's bid for the
"Privacy Computing Platform Interoperability" project, and the two
companies will begin working together closely to build China's first multi-party cross-heterogeneous
privacy computing platform. The project will be applied to
financial scenarios such as financial risk control, anti-fraud, and
blacklist query. By collaborating on this platform, both parties
will jointly activate the full potential of big data and boost
customer business value on the basis of meeting regulatory data
privacy protection regulations.
Looking ahead, OneConnect plans to continue exploring new
partnerships with domestic and foreign organizations, government
agencies and financial exchanges; strengthen its technological
innovation and IP protection; and improve its R&D capabilities
in technology in order to accelerate the digitalization of the
global financial services sector.
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SOURCE OneConnect