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The OneCosmo suite allows financial institutions and fintech companies in the region to build a wide range of digital banking capabilities, gaining flexibility and scalability
Abu DhabiUnited Arab Emirates, October 18, 2022 /PRNewswire/ — OneConnect Smart Technology (ME) Ltd (OneConnect), a leading technology-as-a-service provider and affiliated company of Ping An Group, announces the launch of OneCosmo, a one-stop, all-in-one platform for everyone – All in One digital banking solutions, in United Arab Emirates (UAE).It was jointly developed with Brazil– Headquartered in technology company Pismo, it is one of the fastest growing banking software-as-a-service (SaaS) companies.
Thanks to pre-integrated and pre-configured features, OneCosmo allows customers to launch financial products within weeks. It also supports real-time data streaming for deeper insights into consumer behavior through data analytics. OneCosmo is a flexible and microservices-led API-driven platform that provides financial institutions the freedom to customize a suite of solutions to meet their individual needs. To date, the Pismo technology used in OneCosmo’s solutions has been used by more than 60 million bank customers, with rapid month-on-month growth.
The launch of OneCosmo is the result of a strategic partnership between the two parties April 2022 Provided by OneConnect and Pismo. Leveraging Pismo’s next-generation cloud-native SaaS platform, OneCosmo’s suite of solutions provides banks and financial institutions with a highly scalable and easy-to-integrate option for building digital banking capabilities. It includes a wide range of services, from digital identity verification and core banking to card issuance, digital wallets and digital lending. The platform also allows integration across different third-party service providers using highly flexible APIs (application programming interfaces) and microservices.
“The UAE’s digital banking and digital payments market will grow faster than the global average over the next five years. Customers have high expectations for their banks and are showing strong interest in digital banking,” said Vishal Dalalthe CEO (North America, EMEA and APAC) at Pismo. “Through the partnership between Pismo and OneConnect, we’re bringing the right technology to market to help banks and fintechs deliver the digital products their customers want.”
“With OneCosmo in Asia, we are delighted that the solution has generated great interest from local financial institutions. We are now delighted to bring our leading technology solutions and expertise to the UAE with OneConnect’s strategic partner Pismo. As the leading fintech market in the MENA region, coupled with strong support from local regulators, the UAE will be an important market for us. ” Tan Binruthe CEO (Southeast Asia) of OneConnect Fintech.
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