In recent years, Financial OneConnect has relied on Ping An Group's over 30 years of experience in the financial industry and strong technological innovation capabilities to provide efficient digital financial solutions for Southeast Asian financial institutions through a unique model of "technology+business", helping local financial institutions achieve digital transformation.
With the rapid growth of the automotive market in Southeast Asia, automotive finance has become an important new battlefield for financial institutions to compete. In the process of expanding into the Southeast Asian automotive finance market, one of the important partners of Financial One Account is CIMB, a Malaysian bank group. Recently, Effendy Shahul Hamid, CEO of CIMB Group, led a senior team to have a two-day in-depth exchange with Financial One Account. The two sides had a comprehensive discussion on financial technology innovation, business digital transformation, and building an automotive finance ecosystem.
The CIMB team of Financial One Account showcased the digital platform "CheE Tong" specially designed for automotive finance, integrating various links of the automotive industry chain and providing personalized automotive loan services. Both parties look forward to deepening cooperation in the digital automotive finance ecosystem, jointly exploring innovative solutions, promoting the common development of the industry, and creating greater value for customers.
As a global fintech company, OneConnect has been committed to helping banks in Southeast Asia achieve digital transformation and has been favored by Southeast Asian financial institutions. Financial One Account has been expanding into the Southeast Asian market since 2018, setting up branches in Singapore, Malaysia, the Philippines, Indonesia, and Vietnam to assist in the comprehensive digital upgrading of local financial services.
With its advantages in artificial intelligence, blockchain, and big data, Financial One Account has quickly established a foothold in Singapore's fintech ecosystem. In August of this year, Singapore's Minister of Health, Wang Yikang, led a delegation to visit OneConnect. The two sides had in-depth discussions on how to use financial technology to promote the digital upgrading of Singapore's financial services, laying a solid foundation for further cooperation in the fields of financial technology and healthcare.
In other Southeast Asian countries, OneConnect has also achieved significant results. For example, in the Philippines, OneConnect has partnered with UBX to upgrade its smart credit platform, enhancing its ability to meet online credit demands. In addition, Financial One Account has also helped SB Finance accelerate product launch, reduce operating costs, and significantly enhance its market competitiveness through an innovative SAM model.
Shen Chongfeng, Chairman and CEO of OneConnect, stated that there is enormous potential for the development of financial technology in the Southeast Asian market. In the future, Financial One Account will continue to rely on the "One Body, Two Wings" strategy, deepen exchanges and cooperation with governments and financial institutions of Southeast Asian countries, promote the implementation of more innovative solutions through the combination of core technology platforms and localized operations, and assist in the comprehensive upgrading of financial services in the Southeast Asian region.