back Back

OneConnect Smart Technology launches in Malaysia

By Edil Corneille

November 27, 2020

  • Malaysia
  • Oneconnect Smart Technology
Share

OneConnect, China, Malaysia, FinTech, eKYC, MyKad, Malaysia Digital Economy, MDECOneConnect Financial Technology, a technology-as-a-service platform provider and an associate of Ping An Insurance Group, launched its new entity – OneConnect Smart Technology, in Malaysia. The launch was graced by Dato’ Ng Wan Peng, Chief Operating Officer of the Malaysia Digital Economy Corporation (MDEC).

In line with OneConnect’s Southeast Asia expansion strategy, Malaysia is a key growth engine. The ongoing digital transformation taking place in the financial landscape signifies a positive sign for OneConnect who has market-ready solutions for InsurTech and full-stack digital banking technologies including end-to-end frictionless account opening and onboarding, smart lending, and an eKYC solution that recognises MyKad, which is a Malaysian identity card.

Backed by Ping An’s 32 years of experience in the financial industry and a track record as a tech enabler, OneConnect is able to bring to Malaysia its solutions and journey with clients through their digital transformation roadmap.

Tan Bin Ru, CEO (Southeast Asia) of OneConnect Financial Technology said, “Malaysia is of strategic importance to OneConnect. The country is home to five local banks that are 20 of Southeast Asia’s largest banks, enjoying strong regional presence. Bank Negara Malaysia’s decision to open its door to digital banking bodes well for our Southeast Asia expansion strategy. One of our unique value propositions that our clients value much is the breadth and depth of our solutions which becomes a breeze when they can have a single strategic tech partner to integrate a full suite of digital solutions and work alongside their team through phases of their transformation plan…”

She added, “Having served all the major banks and more than half of the insurance companies in China, we have amassed extensive track records in enabling digital transformations for, and accumulated a wealth of bespoke experience in the banking, insurance and ecosystem realms. Since the setting up of our regional headquarters in Singapore in 2018, more than 50 clients across Southeast Asia and other parts of Asia, as well as the UAE and Europe have entrusted us to be their tech expert.”

OneConnect partnered with RHB Bank to develop an omnichannel platform that fully digitalises the SME loan experience. It also partnered with another top five local bank to develop a mobile banking app powered by its eKYC solution. OneConnect is also collaborating with CIMB Philippines to enhance digital banking technologies in the Philippines.

OneConnect plans to hire local talents to grow a product and engineering team who will provide support for clients in Malaysia and have opportunities to work on its regional projects.

Previous Article

November 27, 2020

Zen launches digital finance solution in collaboration with Mastercard

Read More
Next Article

November 27, 2020

FinecoBank expands investment offering with Robeco

Read More






IBSi Daily News Analysis

Data privacy

June 19, 2024

Malaysia

EMEA faces $85bn annual financial crime compliance costs, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Mbanq joins IG Tech Cambodia to expand BankTech & BaaS solution in SEA

Read More

Today

First Abu Dhabi Bank bolsters CLM operations with Fenergo

Read More

Today

Xcelerate acquires an equity stake in Gieom, a financial service compliance provider

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023