- OneCosmo is the result of the joint product offerings by OneConnect and Pismo in Southeast Asia
- Next-generation technology allows financial institutions to build a wide range of digital banking capabilities, gaining scalability and customisation
Singapore, 25 July 2022 – OneConnect Financial Technology Co., Ltd (OneConnect), the leading technology-as-a-service provider and an associate of Ping An Group, today announced the launch of OneCosmo, a one-stop omni platform for all-in-one digital banking solutions jointly developed with Brazil-based tech company Pismo, one of the fastest-growing banking Software-as-a-Service (SaaS) firms.
OneCosmo allows customers to fully onboard within a matter of weeks due to pre-integrated and pre-configured features. It also enables real-time data streaming for greater insight into consumer behaviour through data analysis. OneCosmo is flexible to working with legacy technology, offering financial institutions the freedom to customise the solutions suite meeting their individual needs. To date, the Pismo’s technology incorporated in OneCosmo’s solutions has been utilised by more than 50 million banking customers.
The launch of OneCosmo is the result of a strategic partnership established in April 2022 by OneConnect and Pismo. Leveraging next-generation technology such as artificial intelligence (AI), machine learning (ML), blockchain, and SaaS, OneCosmo’s suite of solutions offers a highly scalable and easily integratable option for banks and financial institutions to build digital banking capabilities. It includes a wide range of services, from digital identity verification and core banking to digital payments, and digital lending. The platform also allows integration across different third-party service providers using highly flexible APIs (Application Programming Interfaces) and microservices.
Commenting on the launch of OneCosmo, Ms Tan Bin Ru, CEO (Southeast Asia), OneConnect Financial Technology said, “OneCosmo represents the fruits of our labour from our strategic partnership with Pismo. Here at OneConnect, driving the digitalisation of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo allows us to further amplify our vision for more institutions at a larger scale. We believe that OneCosmo will make a difference by allowing more financial institutions to digitalise at a robust pace.”
Research by Gartner, revealed that the cloud services sector was forecasted to grow 18.4 per cent in 2021 to reach $304.9 billion, up from $257.5 billion in 2020. Further research by MarketsandMarkets also indicated that the SaaS market has been growing by 18 per cent yearly.
“Pismo’s mission is to help banks and fintechs deploy the next generation of innovative products on the cloud for their customers, and we’re excited to extend that mission with this new offering for Asia. The launch of OneCosmo showcases our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services,” said Vishal Dalal, CEO (North America, EMEA and APAC) at Pismo.
OneCosmo is currently available in Southeast Asian countries including Thailand, Malaysia, Indonesia, The Philippines, and Singapore, with a view to extend 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-recognised Company is a high-tech enterprise that was listed on the New York Stock Exchange in 2019 (NYSE: OCFT). The Company integrates extensive financial services industry expertise with market-leading technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable our customers’ digital transformations, which seek to increase revenue, manage risks, improve efficiency, enhance service quality and reduce costs.
OneConnect is an associate of Ping An Group. By leveraging on Ping An Group’s extensive experience of over 30 years in financial services, OneConnect has established long-term relationships with financial institutions to serve and accurately address their digital transformation needs. Above its expertise and experience as a leading digital banking solutions provider, OneConnect also actively promotes digital transformation for financial institutions and provides trade, credit, supply chain, data security, risk management and other related scientific and technological services for government, regulatory and enterprise users. As of 30 June 2021, the company has served over 100 customers across more than 20 countries and regions, largely in Southeast Asia.
OneConnect has world-leading technology capabilities for financial services in AI, Big Data Analytics, Blockchain and Financial Cloud. As of 30 June 2021, the Company had submitted 5,075 global patent applications, including 1199 overseas patent applications. The Company has also won 51 technology awards in international competitions, including four consecutive IDC Awards, BAI Global Insurance Certification Award, the first prize in the OMG Micro-expression Competition, the first prize in Machine Learning in DROP Leaderboard and the CMMI5 international certification, among many others.
Pismo is a technology company providing an all-in-one processing platform for banking, payments, and financial markets infrastructure. Large banks, marketplaces, and fintechs already use our cloud-native microservices platform. Pismo clients are launching next-generation solutions while migrating their legacy systems onto the most advanced platform in the market. Pismo cloud-based platform empowers teams to build fast and companies to launch rapidly, scaling as they grow to have a broader audience while keeping high security and availability standards.
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OneConnect Financial Technology
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