OneCosmo is the result of joint product offerings from a partnership between OneConnect and Pismo
The next-generation technology implemented in OneCosmo allows financial institutions to create 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 omnidirectional platform for all in-one digital banking solutions developed jointly with BrazilPismo, a New York-based technology company, one of the fastest growing banking Software as a Service (SaaS) companies.
The launch of OneCosmo is the result of joint product offerings from OneConnect and Pismo, after embarking on a 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 aims to offer a highly scalable and easily integrable solution for banks and financial institutions to create digital solutions. banking capabilities. The solutions offered by OneCosmo cover a wide range of services, from digital identity verification and basic banking services to digital payments and digital loans. The platform also enables integration between different third-party service providers, using its highly flexible Application Processing Interfaces (APIs) and microservices.
Prospective users of OneCosmo will also be able to fully integrate with its platform within weeks thanks to the pre-integrated and pre-configured functionalities, while offering financial institutions the flexibility of customization according to their required specifications.
OneCosmo will also enable financial institutions to take advantage of real-time data streaming, enabling better understanding of consumer behavior through data analytics. OneCosmo allows flexibility in working with legacy technology, giving financial institutions the freedom to customize the suite of solutions to meet their individual needs. To date, the Pismo technology integrated into the OneCosmo solution has been used by more than 50 million customers.
Commenting on the launch of OneCosmo, Ms. Tan Bin RuCEO (South East Asia), OneConnect Financial Technology said, “OneCosmo represents the fruit of our labor from our strategic partnership with Pismo. At OneConnect, driving the digitalization of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo enables us to further amplify our vision to more institutions at greater scale. We believe OneCosmo will make a difference by enabling more financial institutions to digitize at a rapid pace.” With the combination of SaaS and TaaS, OneCosmo is an omnichannel platform that allows us to better serve financial institutions of all sizes. .”
Research conducted by Gartner[i]revealed that the cloud services sector is expected to grow by 18.4% in 2021 to reach a total valuation of $304.9 billionfrom $257.5 billion in 2020. Further research by MarketsandMarkets[ii] also indicated that the SaaS market has grown by 18% per year.
“Pismo’s mission is to help banks and fintechs deploy the next generation of innovative cloud products for their customers, and we’re excited to extend that mission with this new offering for Asia. The launch of OneCosmo illustrates our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services,” said Vichal DalalCEO (North AmericaEMEA and APAC) at Pismo.
OneCosmo is currently available in Southeast Asian countries including Thailand, Malaysia, Indonesia, The Philippinesand Singaporewith a view to extending its offer to financial institutions in 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 listed on the New York Stock Exchange in 2019 (NYSE: OCFT). The company integrates extensive financial services industry expertise with cutting-edge technology to provide technology applications and technology-enabled business services to financial institutions. These solutions enable our customers’ digital transformations, which aim to increase revenue, manage risk, improve efficiency, improve service quality and reduce costs.
OneConnect is a partner of Ping An Group. Leveraging Ping An Group’s extensive experience of more than 30 years in financial services, OneConnect has established long-term relationships with financial institutions to accurately meet their digital transformation needs. Beyond its expertise and experience as a leading provider of digital banking solutions, OneConnect also actively promotes digital transformation for financial institutions and provides commercial, credit, supply chain, data security services , risk management and other related science and technology services to governmental, regulatory and corporate users. . From June 30, 2021the company has served more than 100 customers in more than 20 countries and regions, mainly in South East Asia.
OneConnect has leading technology capabilities for financial services in the areas of AI, big data analytics, blockchain and financial cloud. From June 30, 2021, the Company had filed 5,075 global patent applications, including 1,199 overseas 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 DROP Leaderboard, and international certification CMMI5, among many others.
Pismo is a technology company that provides 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 launching next-generation solutions while migrating their legacy systems to the most advanced platform on the market. The cloud-based Pismo platform allows teams to grow quickly and businesses to get started quickly, scaling as they grow to have a wider audience while maintaining high standards of security and availability.