HONG KONG and SHENZHEN, China, Aug. 26, 2019 /PRNewswire/ -- Two leading technology providers signed a cooperation agreement in Shenzhen today. OneConnect Financial Technology Co., Ltd. ("OneConnect"), an affiliate of Ping An Insurance (Group) Company of China, Ltd. (hereafter "Ping An" or the "Group" or the "Company", HKEX: 2318; SSE: 601318), will offer its fintech software-as-a-service (SaaS) technology to the European market through finleap connect, the fintech SaaS provider of Europe's leading fintech ecosystem, finleap.
Based in Shanghai, OneConnect is a leading technology-as-a-service platform for financial institutions, based on world-class technologies including artificial intelligence (AI), blockchain, cloud computing, and biometrics identification. OneConnect has offices in Singapore and Jakarta.
finleap connect is a business unit of finleap, Europe's leading fintech ecosystem, based in Berlin and with offices in Milan, Paris and Madrid. finleap offers fintech SaaS solutions to various enterprises and builds stand-alone fintech companies. Founded in 2014 by IONIQ Group and Ramin Niroumand, finleap has already developed 16 ventures with its infrastructure and added others by acquisition to its ecosystem. Companies range from a digital insurance broker to a fully licensed bank.
Dr. Carolin Gabor, Chief Commercial Officer and finleap Partner said: "We are impressed by OneConnect's technical capabilities and deep understanding of digital transformation in financial services. Asia is clearly at the forefront here; you won't find that level of maturity in European technology. We are pleased to use OneConnect's solutions in the European market to offer superior products and services with finleap connect to our ecosystem and partners."
Ye Wangchun, Chairman of OneConnect, said: "We are honored and excited to team up with finleap in this new partnership, which is the first of its kind in the fintech industry. OneConnect will provide finleap with its innovative enterprise technology solutions in AI, blockchain, cloud and biometrics identification to companies in Europe using finleap."
Examples of the OneConnect technologies include Optical Character Recognition (OCR), voice recognition and scoring algorithms. Bi Wei, CEO of OneConnect Insurance Division, said: "These technologies radically shorten the identification time of the customer. They enable fast and easy insurance or credit applications as well as risk-based decisions in seconds. This leads to a much faster and more convenient customer experience, reduces process costs and provides better risk management."
finleap connect, as a fintech SaaS provider, will offer these products to its customers in Europe by integrating them into its products and go-to-market ventures, which they will develop together with leading companies in financial services and beyond. As a German-regulated company, all processes are in compliance with German and European standards.
For OneConnect, the partnership holds great potential. This is the first time OneConnect has entered the European market as a strategic partner. In November 2018, the Ping An Group invested a total of EUR 41.5 million in finleap through its Ping An Global Voyager Fund.
Jonathan Larsen, Ping An Group Chief Innovation Officer said: "In finleap, we have found a powerful and like-minded partner. We believe both their existing and new businesses will provide an excellent platform for deploying Ping An technologies in Europe. We look forward to a long and fruitful cooperation."
OneConnect is a leading technology-as-a-service platform for financial institutions in China. The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable our customers' digital transformations, which help them increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.
OneConnect is an affiliate of Ping An Group. As of June 30, 2019, Ping An Group was the fifth-largest globally by market capitalization. OneConnect leverages the Group's 30 years of extensive experience in financial services and accurately addresses the needs of different financial institutions. The Company now has 12 technology solutions across the full scope of their businesses -- from sales and marketing and risk management to customer services and operations, as well as technology infrastructure such as data management, program development, and cloud services.
About finleap connect and finleap
finleap connect offers a full range of leading fintech solutions as well as research & development (R&D) to financial institutions across Europe. The company will launch its service in Europe in September 2019 under the brand finleap connect and enables its clients to integrate services seamlessly. finleap connect is a business unit of finleap, Europe's leading fintech ecosystem, based in Berlin and with offices in Milan, Paris and Madrid. Founded in 2014 by IONIQ Group and Ramin Niroumand, finleap has already developed 16 ventures with its infrastructure and added others by acquisition to its ecosystem. These include companies such as solarisBank, the first banking platform with a full banking license, ELEMENT, a fully digital insurer and PAIR Finance, a provider of data-based receivables management. The finleap group employs 900 people from over 60 countries.
About Ping An Group
Ping An Insurance (Group) Company of China, Ltd. ("Ping An") is a world-leading technology-powered retail financial services group. With 196 million retail customers and 576 million Internet users, Ping An is one of the largest financial services companies in the world.
Ping An has two over-arching strategies, "pan financial assets" and "pan healthcare," which focus on the provision of financial and healthcare services through our integrated financial services platform and our five ecosystems of financial services, health care, auto services, real estate services and smart city services. Our "finance + technology" and "finance + ecosystems" strategies aim to provide customers and internet users with innovative and simple products and services. As China's first joint stock insurance company, Ping An Group is committed to upholding the highest standards of corporate reporting and corporate governance. The Company is listed on the stock exchanges in Hong Kong and Shanghai.
Ping An ranked 7th on the Forbes Global 2000 list and 29th on the Fortune Global 500 list. Ping An also ranked 40th on the 2019 WPP Millward Brown BrandZTM Top 100 Most Valuable Global Brands list. For more information, please visit www.pingan.cn.
For enquiries, please contact:
Head of Communications
finleap & finleap connect
+49 151 289 636 79
+49 30 609865291
Head of International PR
Ping An Group
+852 6882 2027
+86 1 55 4693 9963
+86 21 38637859
SOURCE Ping An Insurance (Group) Company of China, Ltd.