Singapore-based OneConnect sets up its regional office in Abu Dhabi

By Shilpa Annie Joseph, Official Reporter
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Singapore-based leading technology-as-a-service platform for financial institutions, OneConnect Financial Technology has launched its regional operations in the Abu Dhabi Global Market (ADGM), the leading international financial center of the capital of the UAE.

OneConnect’s office in Abu Dhabi will further support the development of the fintech ecosystem and accelerate the digital transformation of financial services in the UAE and the region, according to the statement.

Commenting on the opening of OneConnect’s office in Abu Dhabi, Ms. Tan Binru, CEO (Southeast Asia) of OneConnect, stated that, “OneConnect Smart Technology further expands our footprint in the Middle East. We are excited to bring our expertise in developing digital financial solutions for SMEs within the UAE and eventually to the Middle East and North Africa (MENA).”

Daher Bin Daher Al Mheiri
Daher Bin Daher Al Mheiri
ADGM Registration Authority

“We are pleased to welcome OneConnect into ADGM’s vibrant community and the UAE. Their specialty in financial services technology will bolster our innovation ecosystem and provide easy accessibility to effective digital finance solutions. We seek to continuously facilitate such opportunities for our stakeholders. With innovation at its core, ADGM has been a champion in fostering a progressive, robust and well-regulated environment for businesses to scale and grow. The addition of global fintech companies such as OneConnect will put us in good stead to shape the digital economy of Abu Dhabi and support the growth and diversification of the UAE’s economy.”

At the launch event, OneConnect introduced the digital banking solutions suite, OneCosmo, which can support the industry’s open banking and open finance agenda. “A select suite of OneCosmo’s solutions will be made available in the Digital Lab for prospective users to test and try out,” the company said.

Ms. Annie Ong, Chief Revenue Officer of OneConnect Financial Technology, noted that “with two successful cooperation initiatives with AGDM and the newly-opened OneConnect Smart Technology office in Abu Dhabi, we are confident of contributing to the digital transformation of the finance sector within the MENA region.”

Related: Singapore-based OneConnect to develop ADGM SME Financing platform