SINGAPORE, Sept. 19,
2022 /PRNewswire/ -- OneConnect Financial
Technology Co., Ltd ("OneConnect" or the "Company", Stock Code:
6638.HK), a leading Technology-as-a-Service ("TaaS") provider,
announced that it will help develop the Abu Dhabi Global Market
(ADGM) SME Financing Platform, an integrated digital finance
marketplace that will transform the financing services landscape
for small and medium enterprises (SMEs) in the United Arab Emirates (UAE). Working with ADGM,
the international financial centre in the capital of the UAE, the
intelligent marketplace will help advance financial inclusion,
enhance transparency, alleviate operational costs in SME finance
and improve the overall customer experience for SMEs and funding
The ADGM SME Financing Platform will be an open and inclusive
digital finance platform that improves SMEs' access to financing.
As a marketplace connecting various key stakeholders such as SMEs,
multi-lenders and data sources from government agencies, and
supported by a robust loan origination process which enables
seamless transfer of data, the platform will enable better, faster
and more risk-appropriate financing decisions to be made. The
entire loan application process is made agile and simplified
through the use of digital tools such as e-contracts and
As a result, SMEs will be able to access a wider range of
financing options such as effective supply chain finance solutions.
It will also give financiers such as banks and credit funds access
to a wider pool of customers. Further, an intelligent
recommendation engine will help SMEs identify the best-fit loan
products available to them within the marketplace.
"At OneConnect, we believe in creating long term value for our
clients. We listen to our client's needs and deliver next
generation omni-solutions which can cater to not only their present
needs but their future needs as well. With ADGM, this is our second
project, which is a direct reflection of our deepened client
relationships and trust. We believe that great things in business
are never done by one person! We learn from all to build for all.
We are excited to bring our expertise in developing digital
financial solutions for SMEs within the UAE region and eventually
to Middle East and North Africa(MENA) region" said Ms
Tan Bin Ru, CEO (Southeast Asia) of OneConnect Financial
Earlier, OneConnect had worked with ADGM to launch the Digital
Lab in early 2021. The Digital Lab is UAE's first Open API platform
that allows financial institutions and FinTech innovators to
collaborate and build the next generation of digital financial
"SMEs are a key contributor to economic growth and are deserving
of an open and transparent marketplace for financial products,"
said Dhaher bin Dhaher Al Muhairi,
CEO of ADGM Registration Authority. "With the new platform, SMEs
will find more convenient, affordable and effective financing
solutions that will further improve the competitiveness and
diversification of the UAE economy and transform the financing
landscape in the MENA region."
Despite challenges caused by the ongoing global COVID-19
pandemic, OneConnect has been successful in securing a new
partnership building a strong relationship with ADGM. Through a
comprehensive suite of technologies, a unique "Finance+Technology"
business model and a customer-oriented approach, OneConnect will
continue to explore future opportunities within the MENA region
following the adoption of a cutting-edge platform by a leading
financial centre and common law jurisdiction in the region.