- OneCosmo is the result of the joint product offerings of a partnership between OneConnect and Pismo
- Next-generation technology implemented in OneCosmo allows financial institutions to build a wide range of digital banking capabilities, while allowing for easy scalability and customisation
SINGAPORE, July 22, 2022 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd (OneConnect, NYSE: OCFT, HKEX: 6638), the leading technology-as-a-service provider and an associate of Ping An Group, today announced the launch of OneCosmo, a one-stop omni platform for all-in-one digital banking solutions jointly developed with Brazil-based tech company Pismo, one of the fastest growing banking Software-as-a-Service (SaaS) firms.
The launch of OneCosmo is the result of the joint product offerings of OneConnect and Pismo, having embarked on a strategic partnership earlier in April 2022. Leveraging next-generation technology such as artificial intelligence (AI), machine learning (ML), blockchain, and SaaS, the suite of solutions provided by OneCosmo is geared towards offering a highly scalable and easily integratable solution for banks and financial institutions to build digital banking capabilities. The solutions offered by OneCosmo span a wide range of services, from digital identity verification and core banking to digital payments, and digital lending. The platform also allows integration across different third-party service providers, using its highly flexible APIs (Application Processing Interfaces) and microservices.
Prospective users of OneCosmo will also be able to fully onboard themselves onto its platform within a matter of weeks due to pre-integrated and pre-configured features, while allowing financial institutions the flexibility of customisation to their required specifications.
OneCosmo will also enable financial institutions to leverage real-time data streaming, allowing for greater insight into consumer behaviour through data analysis. OneCosmo allows for flexibility in working with legacy technology, offering financial institutions the freedom to customise the solutions suite to cater to their individual needs. To date, the Pismo's technology incorporated in OneCosmo's solution has been utilised by more than 50 million customers.
Commenting on the launch of OneCosmo, Ms Tan Bin Ru, CEO (Southeast Asia), OneConnect Financial Technology said, "OneCosmo represents the fruits of our labour from our strategic partnership with Pismo. Here at OneConnect, driving the digitalisation of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo allows us to further amplify our vision for more institutions at a larger scale." With the combination of SaaS and TaaS, OneCosmo is an omni channel platform which enables us to better service financial institutions of all sizes."
Research conducted by Gartner[i], revealed that the cloud services sector was forecasted to grow 18.4 per cent in 2021 to reach a total valuation of $304.9 billion, up from $257.5 billion in 2020. Further research by MarketsandMarkets[ii] also indicated that the SaaS market has been growing by 18 per cent yearly.
"Pismo's mission is to help banks and fintechs deploy the next-gen of innovative products on the cloud for their customers, and we're excited to extend that mission with this new offering for Asia. The launch of OneCosmo showcases our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services," said Vishal Dalal, CEO (North America, EMEA, and APAC) at Pismo.
OneCosmo is currently available in Southeast Asian countries including Thailand, Malaysia, Indonesia, The Philippines, and Singapore, with a view to extend its offerings to financial institutions within the Middle East.
About OneConnect Financial Technology
OneConnect Financial Technology Co. Ltd. ("The Company") is a leading technology-as-a-service platform for financial institutions. The globally-recognised company is a high-tech enterprise that was listed on the New York Stock Exchange in 2019 (NYSE: OCFT) and achieved dual primary listing in Hong Kong in 2022 (HKEX: 6638). The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable our customers' digital transformations, which seek to increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.
OneConnect is an associate of Ping An Group. By leveraging on Ping An Group's extensive experience of over 30 years in financial services, OneConnect has established long-term relationships with financial institutions to serve and accurately address their digital transformation needs. Above its expertise and experience as a leading digital banking solutions provider, OneConnect also actively promotes digital transformation for financial institutions and provides trade, credit, supply chain, data security, risk management and other related scientific and technological services for government, regulatory and enterprise users. The Company currently serves more than 20 countries and regions.
OneConnect has world-leading technology capabilities for financial services in AI, Big Data Analytics, Blockchain and Financial Cloud. As of 31 December 2021, the Company had submitted 5,652 global patent applications, including 1,525 overseas patent applications. The Company has also won 61 international professional awards, including four consecutive IDC Awards, the prestigious Wu Wen Jun AI Science and Technology Award, BAI Global Insurance Certification Award, the first prize in the OMG Micro-expression Competition, the first prize in Machine Learning in DROP Leaderboard and the CMMI5 international certification.
Pismo is a technology company providing an all-in-one processing platform for banking, payments, and financial markets infrastructure. Large banks, marketplaces, and fintechs already use our cloud-native microservices platform. Pismo clients are launching next-generation solutions while migrating their legacy systems onto the most advanced platform in the market. Pismo cloud-based platform empowers teams to build fast and companies to launch rapidly, scaling as they grow to have a broader audience while keeping high security and availability standards.
Source: OneConnect Related Stocks: HongKong:6638 NYSE:OCFT
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