Technology
Technology Makes Finance Easier
By simplifying IT, we fundamentally change bank-customer relationships by providing the expertise, skills and experience to help banks successfully realise a digital transformation that removes traditional barriers, so that they can better serve customers in a simpler, frictionless way.
We provide financial technology solutions in artificial intelligence, big data analytics and blockchain to help financial institutions transform their operations, maximize business efficiency and scale up competitive advantages.
Artificial Intelligence
Artificial intelligence (AI) significantly changes the traditional operating models of financial institutions. How can financial institutions better embrace AI and prepare themselves for the future?
Our unparalleled AI solutions help financial institutions offer better customer services, detect and prevent payment fraud, and improve processes for anti-money laundering (AML) and know-your-customer (KYC) regulatory checks.
Voice Recognition
Our voice verification technology verifies a speaker’s identity by comparing the voice against previously provided samples within milliseconds. We use our voice verification technology to provide safer and faster account access. Our voice verification technology is low-cost and user-friendly, and it supports remote verification in apps, phone calls and customer services.
Natural Language Processing
- Our natural language processing technology translates text inputs into formats that are computable by machines. These capabilities enable machines to process, analyze and understand transaction documents with much higher speed than human beings. This technology also supports multiple rounds of dialogue, enabling our development of chatbots for automated customer and collection services.
Image Recognition
- Our deep-learning algorithms analyze images to quickly and accurately identify visual content. We use this technology to develop gesture payment applications that can replace conventional fingerprint and password checks, improving efficiency and customer experience.
Expert Decisioning
- We train AI to recognize information, learn rules and eventually replace human based decision-making processes. We have applied advanced expert decisioning technology in modules, including intelligent fast claim, anti-fraud tools and virtual assistants, to enhance our customers’ efficiency and reduce their labor cost.
Application
Scenarios
- Account Opening/ Application
Smart Loss Assessment
Smart Scheduling- Smart Customer Service
Blockchain
Our blockchain technology, built using our proprietary architecture, facilitates peer-to-peer communications and smart contracts and ensures trust, transparency, and security for financial institutions and SMEs’ transactions.
The BaaS platform and underlying architecture are infrastructure technology platforms that have been independently developed by OneConnect to provide financial institutions and SMEs with standardized and accessible blockchain services.
Features
Designed with security, privacy, and performance in mind- User-friendly with a one-click deployment package
- Successfully implemented in various major ecosystems including finance, real estate, automobile, trade finance, healthcare, and smart city
Research
Joint research with Singapore Management University on the potential for quantum computing to resolve blockchain trilemma
The findings from this research, vetted by the Blockchain Association Singapore, follow an earlier Memorandum of Understanding (MOU) between OneConnect and SMU in 2019 to develop a Proof of Concept (POC) to investigate the characteristics of quantum computing for distributed ledger technologies (DLTs). The report focused on studying quantum algorithms that could augment blockchain technology in the area of robust large-scale consensus.
While reviewing various types of consensus mechanisms and the suitability of quantum computing in business, the research has shown that the inherent constraints faced by classical DLTs known as the “blockchain trilemma”, or the notion of improving all three fundamental attributes of blockchain – speed, security and size – at once could be broken by quantum technologies, thus increasing potential business usage. For current blockchains, a longer time is required to reach a consensus for highly secure DLTs, and increasing the speed of consensus leads to lower security.
Click here to download the result findings from the research project.
Client Story
Hong Kong Monetary Authority (HKMA)
International Trade Finance Platform
The world’s first consortium chain commercial network used in large-scale production environments.
The OneConnect blockchain team has designed, developed, and deployed its first overseas cooperative project − a blockchain-based international trade finance platform, eTradeConnect for Hong Kong Monetary Authority.
Leveraging blockchain’s distributed ledger technology of oneConnect, financial institutions will potentially be able to access real-time, secure and comprehensive trade information to conduct their risk assessment on loans. Similar processes will become more efficient, and potentially reduce financial costs for companies by digitalising trade documents in trade loan applications.
Features
Ensures seamless information and data security
Provides greater risk control, efficiency, transparency, and security for the trade finance industry
Financial Cloud
Our cloud management solution provides value-added services built around the services of Ping An Financial Cloud. It offers highly reliable and secure cloud services specifically tailored for the financial services industry. Equipped with a deep understanding of and rich experience in the financial services industry and advanced technologies, we will provide our customers with consultation, design, migration, and deployment services on various cloud structures.
We have multiple operating centres and meet the highest security standards recognised by nine global industry authorities.
Features
Grade A server rooms and facilities- Best-in-class data center in Hong Kong, Indonesia, and Singapore
Self-developed based on open source, integrated and absorbed core functional software including openstack, cloudstack as the main components- Accommodates other open-source software such as ceph, docker and kubernatesto execute the management and orchestration of multiple types of foundation resources
Strengths
Security Compliance
Excellent Performance
High Efficiency and Low Cost
Independent Control of Technology- Large-Scale
Big Data Analytics
Our advanced analytics help financial institutions make timely and informed decisions during the entire business cycle of financial transactions, including customer acquisition and management, risk management, product development and operation optimization.
Our advanced data insights and data analytics capabilities are critical to all aspects of our operations, particularly in the following modules:
Credit Analytics
- Deliver tailored data processing models to our customers covering applications, behavior, and collection scorecards for mainstream credit products. We have deep experience in interpreting incomplete datasets, and we leverage our financial services industry knowledge and technical expertise to identify the most relevant features for predicative models.
Customer Analytics and Target Marketing
- Deliver tailored data processing models to our customers covering applications, behavior, and collection scorecards for mainstream credit products. We have deep experience in interpreting incomplete datasets, and we leverage our financial services industry knowledge and technical expertise to identify the most relevant features for predicative models.
Anti-Fraud Tools
- Equipped with seven types of data processing models, this module processes non-structured data such as pictures and text. It builds customized models to analyze the information most prone to fraud risk, such as addresses and occupations.
Smart Auto Claims
- Our image-processing and big data analytics technologies in this module enable insurers to apply technology including photographs and video to improve efficiency and accuracy in claim adjustment.
- Our advanced data insights and data analytics capabilities allow us to streamline the development of customized models, reducing the preparation time for a model from a range of three or four weeks to one week and reducing costs by up to 50%. In addition, our machine learning analytics optimize the accuracy of models as compared to conventional modeling.