OneConnect & SBI Holdings introduce new joint venture in Japan
Category: #business |   By Saipriya Iyer |   Date: 2019-12-26  | 
  • Share
  • Twitter
  • Facebook
  • LinkedIn

OneConnect & SBI Holdings introduce new joint venture in Japan

 

  • The joint venture was officially inaugurated on 19th December 2019
  • This is the latest in a series of efforts made by OneConnect to further cultivate its overseas presence
  • OneConnect’s partner SBI Holdings, a Japanese financial services firm, is one of the leading asset management organizations in Asia

Chinese insurance Ping A Group member OneConnect Financial Technology has recently announced the launch of their new joint venture in Tokyo, Japan. The JV, established in partnership with leading Japanese financial group SBI Holdings, is equipped to provide sophisticated AI and cloud-based technologies and services to aid the digital transformation of regional banks in Japan.

The joint venture was reportedly incorporated in Japan in March 2019, and is the first foray of OneConnect into the overseas markets following their successful listing on the NYSE.

CEO & Chairman of OneConnect, Ye Wangchun has apparently claimed that OneConnect has proved its mettle in the Chinese market. He commented that OneConnect has the leading technology in the world, aiding banks in enhancing their earnings, service quality and efficiency. The technology has also helped banks mitigate costs and risks, which is what the company seeks to offer to financial institutions in Japan.

Presently, OneConnect is operational in over 10 regions and nations, such as Singapore, Hong Kong, South Korea, Cambodia, Thailand and Indonesia.

Mr. Wangchun has further stated that OneConnect is targeting mainstream local financial institutions and banks in overseas markets. In Europe, for instance, OneConnect has signed a cooperation contact with fintech ecosystem software firm Finleap, to give European markets access to Fintech SaaS.

OneConnect’s joint venture partner SBI Holdings, is one of the most prominent financial institutions in Asia. The SBI Group has recently procured equities of some regional banks in Japan. The firm is also believed to be fostering ambitious plans to develop a technology-powered bank, aimed to become the fourth largest bank in Japan.

Source Credit: https://finance.yahoo.com/news/oneconnect-opens-joint-venture-japan-091300058.html?guccounter=1

 

  • share
  • Twitter
  • Facebook
  • LinkedIn


About Author

Saipriya Iyer    

Saipriya Iyer

A content developer by choice, Saipriya Iyer holds a rich experience portfolio of more than five years in the content creation domain. Equipped with substantial expertise across the business, technology, and finance domains, Saipriya currently pens down insightful art...

Read More

More News By Saipriya Iyer

InMobi’s Glance secures USD 145 million from Google and Mithril Capital
InMobi’s Glance secures USD 145 million from Google and Mithril Capital
By Saipriya Iyer

The newly secured funds have allowed Glance to reach a valuation of around USD 1 billion. Glance also operates a popular video-sharing social media platform Roposo. Glance, one of the leading mobile lock screen platforms, recently announced to h...

Strict regulatory standards to drive future developments in aircraft lightning protection industry
Strict regulatory standards to drive future developments in aircraft lightning protection industry
By Saipriya Iyer

The global aircraft lightning protection industry is set to witness some interesting developments in the future, driven by the need for robust and more durable carriers for commercial and military purposes. According to the Federal Aviation Administ...

Facebook to move U.K. users to California unit to avoid EU regulations
Facebook to move U.K. users to California unit to avoid EU regulations
By Saipriya Iyer

In a bid to circumvent the EU (European Union) privacy guidelines, American social networking giant Facebook Inc. is reportedly planning to shift all U.K. users to its California unit. The move will also void British users from their existing relatio...