Pismo and OneConnect have expanded their ongoing collaboration with the launch of OneCosmo, their all-in-one digital banking solution, in the United Arab Emirates (UAE).
Developed earlier his year, OneCosmo enables customers to launch financial products in a matter of weeks. Its pre-integrated and pre-configured features are based on Pismo’s microservices-led API platform.
OneCosmo’s suite of solutions offers a highly scalable and easily integrable option for banks and financial institutions to build digital banking capabilities. It includes various services, from digital identity verification and core banking to card issuance, digital wallets, and digital lending.
“The digital banking and digital payment market in the UAE will grow faster than the global average within the next five years,” says Vishal Dalal, CEO for North America, EMEA and APAC at Pismo.
“With the partnership between Pismo and OneConnect, we are taking to the market the right technology for helping banks and fintechs offer the digital products their customers want.”
More than 60% of customers in the UAE prefer to perform critical banking functions digitally. 88% would also be happy to bank with an entirely digital institution, meeting all their needs without a bank branch.
“Following the success of OneCosmo launch in Asia, we are exhilarated that the solution has garnered tremendous interest from the local financial institution,” says Tan Bin Ru, CEO for Southeast Asia at OneConnect Financial Technology.
“We are excited to bring our leading-edge technological solutions and professional expertise to the UAE.”