FINTECH

OneConnect Inks Announces a New Strategic Partnership with Chengfang Financial Technolgy

OneConnect | January 10, 2022

OneConnect_Inks_Announces
OneConnent Financial Technology and Chengfang Financial Technology Co. Ltd. announced that they are entering into a new strategic partnership. They’ll be working together to address common pain points in the financial industry by bringing about technological innovations and enhanced data processing with proper governance.

OneConnect Financial Technology Co. Ltd. is a leading technology-as-a-service platform for financial institutions and is known to execute outstanding financial services. Chengfang Financial Technology Co. Ltd. is a renowned technology company established by the People's Bank of China ("PBOC").

OneConnect and Chengfang Financial Technology under the newly formed agreement will implement cutting-edge technologies such as AI, big data, and cloud computing. By implementing these technologies, they will explore new applications for data privacy technology in ban surveillance systems and circulation models needed by businesses. In addition, both companies will also conduct research & development in areas such as secure computing technology, blockchain, and graph data. In this way, the companies will 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, to build a new way forward for digital banking."

Wangchun Ye, Chairman of OneConnect

In addition to its partnership with Chengfang Financial Technology, OneConnect has established strategic alliances with the China Securities Regulatory Commission's Technology Supervisory Bureau, the Insurance Asset Management Association of China, and the China Insurance Asset Registration and Trading System Co., Ltd. The company has also successfully executed major FinTech projects worldwide, which include the Singapore Stock Exchange's ESG platform, the Hong Kong Stock Exchange's FINI IPO settlement platform, Hong Kong's trade finance linkage platform, the Hainan Provincial Financial Supervisory Bureau's smart integrated financial services platform, Guangxi Province's cross-border digital finance platform, and more other platforms.

Spotlight

Banks are increasingly advised to adopt new approaches to their traditional workflow and redesign their organizations to meet the challenges of digital transformation. Flexibility and rapid response
to changes have never been more important for financial institutions to remain ahead of the competition. This mindset should be at the very heart of businesses, especially when it comes to digital development, where a variety of solutions and novel approaches are already available.

Spotlight

Banks are increasingly advised to adopt new approaches to their traditional workflow and redesign their organizations to meet the challenges of digital transformation. Flexibility and rapid response
to changes have never been more important for financial institutions to remain ahead of the competition. This mindset should be at the very heart of businesses, especially when it comes to digital development, where a variety of solutions and novel approaches are already available.

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