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OneConnect Fintech Limited (OneConnect), a leading technology-as-a-service provider for financial institutions, today announced the official launch of its regional operations at Abu Dhabi Global Market (ADGM), the China’s leading international financial center. The capital of the United Arab Emirates. The addition of OneConnect to the ADGM series will further support the development of the fintech ecosystem and accelerate the digital transformation of financial services in the UAE and the region.
Notably, ADGM and OneConnect have co-created the ADGM Digital Lab, which was launched in April 2021 as a market and industry sandbox to encourage compliance with the guidance and oversight of the Financial Services Regulatory Authority (FSRA). Develop fintech solutions. The digital platform includes a product and API marketplace where fintech companies looking to do business in the MENA region can showcase their solutions, as well as sandbox elements such as synthetic data for product experimentation and no-code orchestration tools. Recently, ADGM launched a project with OneConnect to develop a financing platform for small and medium-sized enterprises (SMEs) to improve their access to financing.
At the launch event, OneConnect launched OneCosmo, a suite of digital banking solutions that can support the industry’s open banking and open finance agenda. The Digital Lab will provide a curated set of OneCosmo solutions for potential users to test and try out.
Commenting on the opening of OneConnect’s office in Abu Dhabi, OneConnect (Southeast Asia) CEO Tan Binru said: “OneConnect’s smart technology further expands our footprint in the Middle East. We are delighted to be able to bring our Bringing expertise in developing digital financial solutions for UAE SMEs to the Middle East and North Africa (MENA).”
“With two successful partnership programs with AGDM and the new OneConnect Smart Technology Office in Abu Dhabi, we are confident to contribute to the digital transformation of the financial industry in the MENA region,” said OneConnect Chief Executive Officer Revenue officer Annie Ong said technology.
Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registry, said: “We are delighted to welcome OneConnect to ADGM’s vibrant community and the UAE. Their expertise in financial services technology will support our innovation ecosystem and provide Effective digital financial solutions provide convenience. We seek to continuously provide our stakeholders with such opportunities.”
He further added: “With innovation at its core, ADGM has been a leader in creating a progressive, robust and well-regulated environment for enterprise scale and growth. The addition of global fintech companies such as OneConnect will put us in a strong position to shape Abu Dhabi’s digital economy supports the growth and diversification of the UAE economy.”
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