SHANGHAI, Feb. 10, 2022 /PRNewswire/ -- OneConnect
Financial Technology Co., Ltd. (NYSE: OCFT) ("OneConnect" or
"the Company"), a leading technology-as-a-service platform for
financial institutions, has made it on to the Forbes Blockchain 50
2022 list for the second consecutive year, as OneConnect continues
developing its cutting-edge solutions to facilitate trade and
financing.
The latest Forbes list, released on February 8, honors industry-leading companies
with top performances in blockchain applications. Those that made
the list include Adobe, A16Z, Paradigm, Coinbase, Microsoft, as
well as Chinese conglomerates such as Ant Group, Tencent and Baidu.
To further its blockchain development, OneConnect formed a
dedicated blockchain team in 2016 and has built a mature ecosystem
in terms of technical support, products and consultancy.
Technology-wise, the Company has developed its own blockchain
underlying infrastructure to ensure financial security and
efficiency. Product-wise, its mature model has allowed easier
access and significantly lowered the bar for clients to participate
in blockchain projects. Service-wise, the company's experts have
offered well-rounded support with their years of project
implementation experience.
OneConnect has been recognized by Forbes for its two blockchain
projects, as the Company has demonstrated its technological
capabilities for building smart and one-stop solutions for
businesses and banks to facilitate cross-border trade
financing.
The Company has gained traction with its financing platform
built with blockchain technology for small and medium-sized
enterprises (SMEs) in China's
Guangdong province. With
blockchain's unique tamper-proof nature, the platform has overcome
the hurdles of information asymmetry between SMEs and commercial
banks.
OneConnect's financing platform has syndicated data from 34
government agencies to analyze a borrower's risk level, with over
480 financial institutions offering more than 1,300 financial
products on the platform. It has served more than a million
businesses with an accumulated financing volume of over
68 billion yuan (approximately
US$10.7 billion).
In addition, the Company's support for Hong Kong's "eTradeConnect" project has helped
it make the cut. In November 2021,
OneConnect teamed up with the People's Bank of China's digital currency research institute
for the central bank's Trade Finance Platform (PBCTFP), a project
that uses blockchain to track and simplify the financing process
for imports and exports between the Chinese mainland and
Hong Kong.
The successful cross-border connectivity between the PBCTFP and
Hong Kong's eTradeConnect --
coupled with OneConnect's solutions -- has
further expanded the project to the second phase of "mainland
imports, Hong Kong exports" from
the previous stage of "mainland exports, Hong Kong imports."
Hong Kong officially launched
the eTradeConnect project in September
2018 under the guidance of the Hong Kong Monetary Authority,
the city's de facto central bank. It is the world's first
blockchain trade financing platform led by regulators, enabling
businesses and their trading partners to carry out cost-effective
trade and financing activities through information sharing thanks
to its advanced distributed ledger technology.
Such cross-platform connectivity has simplified and expedited
the trade finance process by reducing the need for exchange of
paper documents, thereby strengthening the economic development in
the Guangdong - Hong Kong - Macau Greater Bay Area.
About OneConnect Financial Technology
OneConnect Financial Technology is a leading
technology-as-a-service platform for financial institutions. The
Company's platform provides cloud-native technology solutions that
integrate extensive financial services industry expertise with
market-leading technology. The Company's solutions provide
technology applications and technology-enabled business services to
financial institutions. Together they enable the Company's
customers' digital transformations, which help them increase
revenue, manage risks, improve efficiency, enhance service quality
and reduce costs.
The Company's technology solutions strategically cover multiple
verticals in the financial services industry, including banking,
insurance and asset management, across the full scope of their
businesses -- from sales and marketing and risk management to
customer services, as well as technology infrastructures such as
data management, program development, and cloud services.
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SOURCE OneConnect