OneConnect wins 2020 IDC Digital Trust Award for innovative Financial Cloud

SHENZHEN, China, Oct. 19, 2020 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT) has been recognized for its innovative OneConnect Financial Cloud with the Real Results Digital Trust Award from International Data Corporation (IDC), the premier global provider of market intelligence, advisory services, and events. The company was the only Chinese company to win the award this year, which goes to information technology providers who have enabled a significant change at a client financial institution.

OneConnect also ranked 66 in IDC's FinTech Rankings Top 100 list. The IDC FinTech Rankings are based on calendar year revenues from financial institutions for hardware, software, and/or services.

"The inclusion in the Top 100 list is a testament to OneConnect's superior position in the global fintech services industry, supported by our cutting-edge technological capabilities in the financial industry such as artificial intelligence, big data, blockchain and financial cloud," said Ye Wangchun, Chairman and CEO of OneConnect. 

OneConnect, an associate of Ping An Group, is a world-leading technology service platform for financial institutions in China. It provides comprehensive end-to-end solutions for banks, insurers, and investment managers by integrating extensive financial services experience with market-leading technology.

The Company enables customers to manage risks, enhance service quality, improve efficiency, increase revenue and reduce costs in their digital transformations. As of June 30, 2020, the Company served over 50 international customers in over 15 markets.

OneConnect has strong cloud computing capabilities with the leading financial cloud platform in China, covering banking, insurance, securities, investment and other financial industry systems. OneConnect Financial Cloud is managing nearly 300,000 hosts, 40,000 databases, and hundreds of thousands of applications.

OneConnect's advantages in cloud-based financial services and the deployment of core Internet technologies, such as drainage applications, help banks expand their Internet business quickly.

With OneConnect's online loan system and Eagle Eye risk control system on the cloud, it helps banks significantly reduce risks. Compared with a client financial institution's self-built cloud technology, OneConnect can shorten the lead time of cloud-based project from 30 days to 10 days, and reduce cloud-based project costs by more than 48%.

OneConnect plans to continue expanding its footprint in the fintech sector, helping banks and financial institutions worldwide transform their businesses by using its advanced technologies and services.

SOURCE OneConnect