Abu Dhabi, UAE – OneConnect Financial Technology launched Saturday its regional operations in Abu Dhabi Global Market, local media reports said.
A Technology-as-a-Service provider for financial institutions, it will support fintech ecosystem and enhance digital transformation of UAE’s financial services.
ADGM and OneConnect worked on creating the ADGM Digital Lab, launched in April 2021 as a marketplace and industry sandbox to support fintech solutions.
Financial Services Regulatory Authority (FSRA) guided the two companies through the process, reports said.
The digital platform comprises a product and API marketplace where fintech firms can showcase their solutions.
Sandbox elements like synthetic data and no-code orchestration tools for product experimentation are also a part of the digital platform.
Recently, ADGM started a project with OneConnect to develop a financing platform for small and medium enterprises (SMEs) to ease financing access.
During the launch, OneConnect unveiled 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, said the reports.
