OneConnect to Help Develop SME Financing Platform with Abu Dhabi Global Market

OneConnect Financial Technology Co., Ltd (OneConnect), a leading Technology-as-a-Service (TaaS) provider, announced that it will help develop the Abu Dhabi Global Market (ADGM) SME Financing Platform, an integrated digital finance marketplace that will transform the financing services landscape for small and medium enterprises (SMEs) in the United Arab Emirates (UAE).

Working with ADGM, the international financial centre in the capital of the UAE, the intelligent marketplace will help advance financial inclusion, enhance transparency, alleviate operational costs in SME finance and improve the overall customer experience for SMEs and funding organizations.

The ADGM SME Financing Platform will be an open and inclusive digital finance platform that improves SMEs' access to financing. SMEs will be able to access a wider range of financing options such as effective supply chain finance solutions. It will also give financiers such as banks and credit funds access to a wider pool of customers. Further, an intelligent recommendation engine will help SMEs identify the best-fit loan products available to them within the marketplace.

"At OneConnect, we believe in creating long term value for our clients. We listen to our client's needs and deliver next generation omni-solutions which can cater to not only their present needs but their future needs as well. With ADGM, this is our second project, which is a direct reflection of our deepened client relationships and trust. We believe that great things in business are never done by one person! We learn from all to build for all. We are excited to bring our expertise in developing digital financial solutions for SMEs within the UAE region and eventually to Middle East and North Africa(MENA) region" said Ms Tan Bin Ru, CEO (Southeast Asia) of OneConnect Financial Technology.

"SMEs are a key contributor to economic growth and are deserving of an open and transparent marketplace for financial products," said Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registration Authority. "With the new platform, SMEs will find more convenient, affordable and effective financing solutions that will further improve the competitiveness and diversification of the UAE economy and transform the financing landscape in the MENA region."