OneConnect Monetary Know-how Co., Ltd (OneConnect), a number one Know-how-as-a-Service supplier for monetary establishments, right now introduced the official launch of its regional operations in Abu Dhabi World Market (ADGM), the main worldwide monetary centre of the capital of the UAE. OneConnect’s addition to the ADGM household will additional help the event of the fintech ecosystem and speed up the digital transformation of monetary providers within the UAE and the area.
Notably, ADGM and OneConnect labored collectively on the creation of the ADGM Digital Lab which was launched in April 2021 as a market and business sandbox to encourage the event of fintech options beneath the steering and supervision of the Monetary Companies Regulatory Authority (FSRA). The digital platform includes a product and API market the place fintech corporations trying to do enterprise within the MENA area can showcase their options, together with sandbox parts comparable to artificial information and no-code orchestration instruments for product experimentation. Extra just lately, ADGM began a challenge with OneConnect to develop a financing platform for small and medium enterprises (SMEs) to enhance their entry to financing.
On the launch occasion, OneConnect launched the digital banking options suite, OneCosmo, which might help the open banking and open finance agenda of the business. A choose suite of OneCosmo’s options will probably be made out there within the Digital Lab for potential customers to check and check out.
Commenting on the opening of OneConnect’s workplace in Abu Dhabi, Tan Binru, CEO (Southeast Asia) of OneConnect, stated, “OneConnect Good Know-how additional expands our footprint within the Center East. We’re excited to deliver our experience in growing digital monetary options for SMEs inside the UAE and finally to the Center East and North Africa (MENA).”
“With two profitable cooperation initiatives with AGDM and the newly-opened OneConnect Good Know-how workplace in Abu Dhabi, we’re assured of contributing to the digital transformation of the finance sector inside the MENA area,” stated Annie Ong, Chief Income Officer of OneConnect Monetary Know-how.
Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registration Authority stated, “We’re happy to welcome OneConnect into ADGM’s vibrant group and the UAE. Their speciality in monetary providers expertise will bolster our innovation ecosystem and supply straightforward accessibility to efficient digital finance options. We search to repeatedly facilitate such alternatives for our stakeholders.”
He additional added, ” With innovation at its core, ADGM has been a champion in fostering a progressive, sturdy and well-regulated atmosphere for companies to scale and develop. The addition of worldwide fintech corporations comparable to OneConnect will put us in good stead to form the digital financial system of Abu Dhabi and help the expansion and diversification of the UAE’s financial system.”