SHANGHAI, January 9, 2022 / PRNewswire / – OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) (âOneConnectâ), a leading technology-as-a-service platform for financial institutions, today announced that it has entered into a strategic partnership with Chengfang Financial Technology Co. Ltd., (abbreviated as âChengfang Financial Technology â), a financial technology company established by the People’s Bank of China (“PBOC”). Working with shared principles of equal collaboration, joint development, honesty and reliability, the two parties will work together to solve common problems in the financial industry, propose technological innovations and improve data processing and governance.
As part of the deal, 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 banking supervisory systems , promote the introduction and sharing of new data standards, and identify the models of collaboration and flow of financial data that businesses need to meet the demands of secure cloud computing. In addition, the two sides will conduct research and development activities in areas such as secure computer technology, blockchain and graphics data; as well as nurturing and cultivating new FinTech talent for the future.
âThis partnership with Chengfang Financial Technology is a significant step forward for OneConnect. from China The digital banking industry has always remained at the forefront of digital transformation, and technology is at the heart of its integrity and innovation. As a B2B FinTech company, OneConnect assumes its responsibility to promote the development of the financial services industry. Together with Chengfang Financial Technology, we will continue to adhere to our current mission: to develop and empower the industry through our unique combination of professional expertise and technology, to chart a new course for digital banking, âsaid Wangchun Ye, president of OneConnect.
A subsidiary of PBOC, Chengfang Financial Technology is responsible for the construction, operation and maintenance of the digital banking system for from China Central bank. The company performs resource planning and operations management for PBOC’s network and data centers, and leverages its data transfer management platform to provide system-wide services ranging from communications and network infrastructure to systems maintenance and data transfer. Its partnership with OneConnect promises to accelerate the digitization of from China banking sector and consolidates OneConnect’s position as a leader in digital financial development.
As the world’s leading technology-as-a-service platform for financial institutions, OneConnect leverages cutting-edge technologies to improve the efficiency and services of banks, government agencies and stock exchanges, while reducing costs and while minimizing the risks. OneConnect helps suppliers accelerate digital transformation through four key pillars: building a digital ecosystem, cultivating green finance, integrating the Grande Baie region and continuing development of the FinTech sector.
In addition to its partnership with Chengfang Financial Technology, OneConnect has established strategic alliances with the Technology Oversight Office of the China Securities Regulatory Commission, the 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, the Singapore Stock Exchange’s ESG platform, a trading platform. business financing for small to medium-sized businesses in Guangdong Province, that of Hong Kong liaison platform for trade finance, from Guangxi province cross-border digital finance platform, the intelligent integrated financial services platform of the Hainan Provincial Financial Supervision Bureau, and more.
OneConnect has also aggressively explored and led the development of privacy computing in recent years, leveraging its privacy computing technology advantages and cooperative practices. The company won the China Merchants Bank bid for the “Privacy Computing Platform Interoperability” project, and the two companies will begin to work closely together to build from China first multi-party and heterogeneous privacy IT platform. The project will be applied to financial scenarios such as financial risk control, fraud prevention and blacklisting. By collaborating on this platform, the two parties will jointly activate the full potential of big data and increase the business value of customers on the basis of compliance with regulatory regulations on data privacy protection.
Going forward, 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 technology R&D capabilities to accelerate the digitization of the global financial services industry.