AI Blockchain

Ping An Group Brings Their SME Tech Solution, OneConnect to Singapore

Ping An, a well-known China-based insurance group officially launches OneConnect in Singapore this month, a SaaS platform providing higher-tier tech to SMES, in the fields of blockchain and a few AI innovations like facial recognition, cloud platforms, biometrics, voice print, blockchain and AI-based credit risk tools.

While Ping An is usually known for their insurtech work in China, the company has been known to diversify their offering, even working with the Hong Kong Monetary Authority to produce a blockchain-powered trade finance platform.

A OneConnect business entity in Indonesia is also in the pipeline with its own data centre to handle the projected volume of business. A separate data centre for Singapore is currently being built, with completion scheduled by end December 2018.

The OneConnect Singapore office is located at Mapletree Business City and officially opened on 19 November 2018. The area spans 15,000 square feet and includes a Customer Experience Centre (CEC) showcasing some of the technologies that power many financial institutions in China including 483 banks, 42 insurers, and nearly 2500 non-bank financial institutions.

Some of the products offered are already used by the Ping An Group in China, while others are customised for the local market.

Ping An has also signed an MOU with the Singpaore Institute of Management to offer a new fintech studies curriculum in the institute, dubbed the Ping An Academy. The course is now pending certification from the Ministry of Education.

Tan Bin Ru, CEO of OneConnect Singapore said:

“We intend to build a diverse and inclusive workplace culture as it is in our tradition. Despite our very Chinese roots, more than 30% of employees at Ping An are not Mandarin-speakers and we expect these numbers to grow, given that our focus countries are not primarily Mandarin speaking.”

Featured image via Ping An Group