OneConnect Financial Technology Co., Ltd. (“OneConnect” or the “Company”) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced that it has been included in International Data Corporation’s (“IDC”) 2020 FinTech Fast 101 list of fast-growing FinTech companies. IDC, the world’s foremost provider of market research data, recent inclusion of OneConnect highlights the Company’s stellar rise in Asia.
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OneConnect joins IDC’s Financial Insights’ FinTech Fast 101 list of leading FinTech companies in Asia (Photo: Business Wire)
“We are extremely excited to be recognized by IDC for the tremendous amount of effort our team has put into building OneConnect over the past several years,” stated Mr. Ye Wangchun, Chairman of the Board and Chief Executive Office of OneConnect. “Our strong focus on high-quality R&D investments has enabled us to expand both our portfolio of products and client embeddedness. This strategy has allowed us to quickly rise above our competition and put us at the forefront of our industry growth, as recognized by IDC.”
IDC’s FinTech Fast 101 was based upon extensive, on-ground analysis and broad due diligence of fintech players from eleven countries including; China, India, Indonesia, Singapore, Hong Kong, Thailand, Malaysia, the Philippines, Vietnam, South Korea, and Australia. IDC Financial Insights evaluated diverse fintech data across the following key metrics: addressable market, customer adoption, investments, alliances and partnerships, innovation, chance of survival, and marketing.
OneConnect’s inclusion in the FinTech Fast 101 list exemplifies the Company’s successful rise. In only four intense years, OneConnect expanded from being an idea to listing on the NYSE. This accomplishment highlights three key differentiators: First, OneConnect has very dynamic capabilities and is able to quickly change its R&D direction as markets evolve. During 2019, OneConnect gained CMMI5 certification and submitted 3,710 patent applications globally. Second, OneConnect has been recognized as the go-to platform for banks wanting to swiftly adapt to an on-line audience. Its Chinese customer base includes all of China’s major banks, 99% of its city commercial banks, and 52% of its insurance companies, collectively reaching hundreds of millions of end-customers. Further highlighting the Company’s growth and diversification, its revenue from third-party customers in 2019 increased by over 107% year over year. Lastly, OneConnect’s rapid respond to customers’ demands during the ongoing COVID-19 epidemic using AI, big data and blockchain, sets it apart from the competition. OneConnect has specifically offered five smart solutions, which enable financial institutions to experience a smooth online operation throughout the entire business process, including customer acquisition and marketing, risk control, back-end systems, operations, maintenance and management. These solutions have provided convenience, security and efficiency, which have aided many in the financial industry to maintain their normal course of business during outbreak.
OneConnect Financial Technology Co., Ltd. (the “Company”) is a leading technology-as-a-service platform for financial institutions in China. 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 13 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 infrastructure such as data management, program development, and cloud services.