Chinese financial platform starts joint venture in Japan

For now, OneConnect has operations in 10 countries and regions, including Hong Kong, Singapore, Thailand, Indonesia, Cambodia, and South Korea

Chinese financial platform

Chinese financial platform starts joint venture in Japan. Source: shutterstock.com

OneConnect announced a joint venture with Japanese financial service group SBI Holdings. The JV will provide cutting-edge cloud-based and AI technological services to Japanese regional banks to help them achieve digital transformation.

The report says that in March 2019, the joint venture was incorporated in Japan, making it OneConnect’s first shot to the overseas market.

In March 2018, OneConnect officially established its branch in Singapore, as headquarters and R&D center of Southeast Asia. At the end of 2018, it also opened a subsidiary in Indonesia.

In overseas markets, the main service targets of OneConnect are mainstream local banks and insurance companies. For example, in Europe, OneConnect signed a cooperation agreement with fintech ecosystem software provider Finleap to provide European market Fintech SaaS. In the Middle East, OneConnect set up a base in Abu Dhabi to build up financial technology ecosystem. In Asia, in addition to serving regional banks in Japan by joint venture, OneConnect also developed Cross-border blockchain trading network with Korean companies
Ye Wangchun, Chairman and CEO of OneConnect

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