Intelligent CXO Issue 19 - Page 48



OneConnect expands its presence in the Middle East

OneConnect Financial Technology , a leading Technology-as-a-Service provider , has 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 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 organisations .
The ADGM SME Financing Platform will be an open and inclusive digital finance platform that improves SMEs ' access to financing . As a marketplace connecting various key stakeholders such as SMEs , multi-lenders and data sources from government agencies and supported by a robust loan origination process which enables seamless transfer of data , the platform will enable better , faster and more risk-appropriate financing decisions to be made . The entire loan application process is made agile and simplified through the use of digital tools such as e-contracts and e-signatures .
OneConnect Financial Technology . “ 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
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 . all . We are excited to bring our expertise in developing digital financial solutions for SMEs within the UAE region and eventually to the Middle East and North Africa region .”
Earlier , OneConnect had worked with ADGM to launch the Digital Lab in early 2021 . The Digital Lab is an open API platform that allows financial institutions and FinTech innovators to collaborate and build the next-generation of digital financial services .
Despite challenges caused by the pandemic , OneConnect has been successful in securing a new partnership and building a strong relationship with ADGM . Through a comprehensive suite of technologies , a unique ‘ Finance + Technology ’ business model and a customer-oriented approach , OneConnect will continue to explore future opportunities within the MENA region following the adoption of a platform by a leading financial centre and common law jurisdiction in the region . x
As a result , 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 ,” said Ms Tan Bin Ru , CEO ( Southeast Asia ) of
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