OneConnect Forms Joint Venture with SBI Group to Expand Reach in Asia-Pacific
(Hong Kong, Shanghai, April 30, 2019) OneConnect Smart Technology Co., Ltd. (Shenzhen) (hereafter “OneConnect”) , a member of Ping An Insurance (Group) Company of China, Ltd. (hereafter “Ping An Group” HKEX: 2318; SSE: 601318) ,has recently entered into an agreement with SBI Neo Financial Services to set up a joint-venture company, SBI OneConnect Japan, in Japan.
Going forward, SBI OneConnect Japan will foster the localization of OneConnect’s fintech solutions in Japan, starting with smartphone applications. SBI OneConnect Japan will fully leverage SBI Neo Financial Services and other SBI companies’ networks and introduce OneConnect’s fintech services to financial institutions and businesses across Japan.
SBI Group is one of the world’s largest comprehensive online financial services groups and one of Asia’s largest venture capital and private equity management companies. SBI Neo Financial Services is a wholly-owned subsidiary of SBI Holdings, Inc. Leveraging SBI Group’s experience and insights in online financial services, SBI Neo Financial Services introduces digital solutions such as mobile banking, cashless payment, robotic process automation, and machine learning platforms to a variety of local financial institutions. By promoting the use of advanced technologies, it contributes to the digital transformation of financial institutions in Japan and enhances the regional economy.
OneConnect is a member company of Ping An Group in China. Adhering to Ping An Group’s two-pronged strategy of “Finance+Technology”, OneConnect employs advanced technologies, including artificial intelligence (AI), blockchain and bio-recognition to provide end-to-end fintech solutions to a full range of financial institutions including banks, insurers and investment companies. By providing smart marketing, smart product, smart risk management and smart operation solutions, OneConnect is committed to assisting financial institutions with their transformation into smart finance to help them increase income, efficiency and service, as well as reduce costs and risks.
As a leading technology service platform for the finance industry, OneConnect is proactively developing in the Asia-Pacific market and is committed to establishing a financial ecosystem and advancing inclusive finance. OneConnect has set up branches in Singapore, Indonesia and Hong Kong. OneConnect Singapore opened in November 2018, to provide end-to-end holistic fintech solutions to customers in Singapore and increase its reach in the Southeast Asia market. The joint venture in Japan with SBI Group is another important move in OneConnect’s strategic positioning in the Asia-Pacific market.