OneConnect Financial Technology announces the launch of OneCosmo, the all-in-one digital banking solutions suite

  • OneCosmo is the result of the joint product offerings of a partnership between OneConnect and Pismo

  • The next-generation technology implemented in OneCosmo enables financial institutions to build a wide range of digital banking capabilities while allowing for easy scalability and customization

SINGAPORE, July 26, 2022 /PRNewswire/ — OneConnect Financial Technology Co., Ltd (OneConnect), the leading technology-as-a-service provider and a partner of Ping An Group, today announced the launch of OneCosmo, a one-stop omni Platform for all in-one digital banking solutions developed together with Brazil-based technology company Pismo, one of the fastest growing software-as-a-service (SaaS) companies in banking.

The launch of OneCosmo is the result of the combined product offerings of OneConnect and Pismo, the one strategic partnership earlier in April 2022. Leveraging next-generation technologies such as artificial intelligence (AI), machine learning (ML), blockchain and SaaS, the suite of solutions provided by OneCosmo is designed to offer banks and financial institutions a highly scalable and easily integrated solution for building 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 enables integration across various third-party service providers using its highly flexible APIs (Application Processing Interfaces) and microservices.

Potential users of OneCosmo will be able to fully onboard the platform in a matter of weeks due to the pre-integrated and pre-configured features, while financial institutions will have the flexibility to customize to their required specifications.

OneCosmo will also enable financial institutions to leverage real-time data streaming to gain better insight into consumer behavior through data analysis. OneCosmo allows flexibility when working with legacy technology and offers financial institutions the freedom to adapt the solution suite to their unique needs. To date, Pismo’s technology integrated into OneCosmo’s solution has been used by more than 50 million customers.

At the launch of OneCosmo, Ms Tan Bin RuCHAIRMAN (South East Asia), OneConnect Financial Technology said, “OneCosmo represents the culmination of our labors from our strategic partnership with Pismo. Here at OneConnect, our vision has been to advance the digitization of financial institutions and banks for greater levels of financial inclusion, and OneCosmo enables us to do that to further reinforce our vision of more institutions at greater scale. We believe OneCosmo will make a difference by enabling more financial institutions to go digital at a robust pace.” Combining SaaS and TaaS, OneCosmo is an omni-channel platform that enables us to better serve financial institutions of all sizes to use.”

Study conducted by Gartner[i]revealed that the cloud services sector is expected to grow by 18.4 percent in 2021 and achieve an overall rating of $304.9 billionaway $257.5 billion in 2020. Further research from MarketsandMarkets[ii] also stated that the SaaS market is growing at an annual rate of 18 percent.

“Pismo’s mission is to help banks and fintechs deliver the next generation of innovative products in the cloud for their customers, and we’re excited to extend that mission with this new offering for Asia. The launch of OneCosmo demonstrates our shared commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services,” he said Vishal DalalCHAIRMAN (North AmericaEMEA and APAC) at Pismo.

OneCosmo is currently available in Southeast Asian countries inclusive Thailand, Malaysia, Indonesia, The Phillipinesand Singaporeto expand 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 recognized company is a high-tech company that was listed on the New York Stock Exchange in 2019 (NYSE: OCFT). The company integrates deep expertise in the financial services industry with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable the digital transformation of our clients aimed at increasing revenue, managing risk, improving efficiency, improving service quality and reducing costs.

OneConnect is a partner of the Ping An Group. Leveraging Ping An Group’s extensive experience of over 30 years in financial services, OneConnect has built long-term relationships with financial institutions to meet and accurately meet their digital transformation needs. In addition to its expertise and experience as a leading provider of digital banking solutions, OneConnect also actively drives digital transformation for financial institutions, providing commercial, credit, supply chain, data security, risk management and other related scientific and technological services to government , supervisory and enterprise users . away June 30, 2021The company has served over 100 customers in more than 20 countries and regions, mainly in South East Asia.

OneConnect has world-leading financial services technology capabilities in AI, big data analytics, blockchain and financial cloud. away June 30, 2021the company has filed 5,075 patent applications worldwide, including 1,199 foreign patent applications. The company has also won 51 technology awards in international competitions, including four consecutive IDC Awards, the BAI Global Insurance Certification Award, First Prize in the OMG Micro-Expression Competition, First Prize in Machine Learning in the DROP Leaderboard, and CMMI5 International Certification. among many others.

About Pismo

Pismo is a technology company that offers an all-in-one processing platform for banking, payments and financial markets infrastructure. Large banks, marketplaces and fintechs are already using our cloud-native microservices platform. Pismo customers are bringing next-generation solutions to market and migrating their legacy systems to the most advanced platform on the market. Pismo’s cloud-based platform enables teams to build quickly and launch businesses quickly, scaling as they grow to reach broader audiences while maintaining high security and availability standards.

SOURCE OneConnect

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