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OneConnectTech, as a service provider for financial institutions, has officially launched regional operations Abu Dhabi Global Market (ADGM)the international financial center of the UAE capital.
The global company, listed on the New York Stock Exchange and Hong Kong Stock Exchange, is launching its global banking solution to support the open banking and open finance agenda of the industry in the region.
Daher bin Daher al-MuhairiCEO ADGM Registration Authority, OneConnect’s expertise in financial services technology will strengthen its innovation ecosystem and provide easy access to effective digital financial solutions.
“With innovation as the core, ADGM Has been an advocate for a progressive, robust and well-regulated environment for business scale and growth,” he said. “The addition of global fintech companies such as OneConnect will allow us to help shape Abu Dhabi’s digital economy, And support the growth and diversification of the UAE economy. “
Develop FinTech Solutions
ADGM and OneConnect have jointly created the ADGM Digital Lab, which launched in April 2021 as a market and industry sandbox to encourage the development of fintech solutions under the guidance and oversight of regulators Financial Services Regulatory Authority (FSRA).
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. ADGM has also launched a project with OneConnect to develop a financing platform for SMEs to improve their access to financing.
Tan BinruOneConnect CEO (Southeast Asia) said: “OneConnect smart technology further expands our footprint in the Middle East. We are delighted to bring our expertise in developing digital financial solutions for SMEs in the UAE to to the Middle East and North Africa.”
although, Annie OngOneConnect’s chief revenue officer commented that the company is “confident to contribute to the digital transformation of the financial industry in the MENA region”.
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