OneConnect Forms a Strategic Partnership with Chengfang Financial Technology

OneConnect Financial Technology Co., Ltd. (OneConnect), a leading technology-as-a-service platform for financial institutions has announced it has entered into a strategic partnership with Chengfang Financial Technology Co. Ltd., a financial technology company established by the People's Bank of China ("PBOC").

Under the agreement, OneConnect and Chengfang Financial Technology will harness cutting-edge technologies—including AI, cloud computing and big data— to explore new applications for data privacy technology in bank surveillance systems, promote the introduction and sharing of new data standards, and identify the financial data collaboration and circulation models needed by businesses to meet the requirements for secure cloud computing.

In addition, the two parties will carry out research and development in areas such as secure computing technology, blockchain, and graph data; as well as nurture and cultivate new FinTech talents for the future.

"This partnership with Chengfang Financial Technology is a significant step forward for OneConnect. China's digital banking sector has continuously remained at the forefront of digital transformation, and technology is at the core of its integrity and innovation. As a FinTech B2B business, OneConnect upholds its responsibility to promote the development of the financial services sector. Together with Chengfang Financial Technology, we will continue to adhere to our ongoing mission: to develop and empower the industry with our unique combination of professional expertise and technology, in order to build a new way forward for digital banking," said Wangchun Ye, Chairman of OneConnect.

In addition to its partnership with Chengfang Financial Technology, OneConnect has established strategic alliances with the China Securities Regulatory Commission's Technology Supervisory Bureau, Insurance Asset Management Association of China, and China Insurance Asset Registration and Trading System Co., Ltd.