DHABI, UAE, Oct. 10,
2022 /PRNewswire/ -- OneConnect Financial Technology
Co., Ltd ("OneConnect" or the "Company", Stock Code: 6638.HK), a
leading Technology-as-a-Service ("TaaS") provider, today unveiled
OneConnect Smart Technology (ME) Limited in the United Arab Emirates (UAE) at the Abu Dhabi
Global Market (ADGM), the leading international financial centre of
the capital of the UAE.
Earlier, OneConnect announced that it will help develop the ADGM
SME Financing Platform, an integrated digital finance marketplace
that will transform the financing services landscape for small and
medium enterprises (SMEs) in the UAE. The intelligent marketplace
aims to advance financial inclusion, enhance transparency,
alleviate cost of finance operations for SMEs and improve the
overall customer experience for SMEs and their 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
Ms Tan Bin Ru, CEO
(Southeast Asia) of OneConnect
Financial Technology, officiated the opening ceremony and said:
"OneConnect Smart Technology further expands our footprint in the
Middle East. We are excited to
bring our expertise in developing digital financial solutions for
SMEs within the UAE and eventually to the Middle East and North Africa (MENA)."
Dhaher bin Dhaher Al
Muhairi, CEO of ADGM Registration Authority
said, "SMEs are a key contributor
to economic growth and are deserving of an open and transparent
marketplace for financial products,"
He added, "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."
In 2021, OneConnect had worked with ADGM to launch the Digital
Lab, UAE's first Open API platform that allows financial
institutions and FinTech innovators to collaborate and build the
next generation of digital financial services.
"With two successful cooperation initiatives with AGDM and the
newly-opened OneConnect Smart Technology office in Abu Dhabi, we are confident of contributing to
the digital transformation of the finance sector within the MENA
region," said Annie Ong, Chief
Revenue Officer of OneConnect Financial Technology.
Despite challenges caused by the ongoing global COVID-19
pandemic, OneConnect has been successful in securing new
partnerships 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 the leading
financial centre and common law jurisdiction within the region.
During the event, OneConnect introduced the End to End Digital
Banking Solutions Suite, OneCosmo, the result of the joint product
offerings of a partnership between OneConnect and Pismo, a
cloud-native core processing platform from Brazil, to the business counterparts in the
As of August 31, the technological
solutions on OneCosmo platform has been utilised by more than 50
million new accounts, registering more than 2 billion transactions
with a total transaction value exceeding US$109 billion.
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