OneConnect Financial Technology, a unit of Chinese insurer Ping An Group, has partnered with finleap connect to bring its fintech software-as-a-service (SaaS) technology to Europe.
finleap connect is part of Europe’s fintech ecosystem finleap.
OneConnect offers artificial intelligence (AI), blockchain, cloud computing, and biometrics identification capabilities to financial services firms.
OneConnect Insurance Division CEO Bi Wei said: “These technologies radically shorten the identification time of the customer. They enable fast and easy insurance or credit applications as well as risk-based decisions in seconds.
“This leads to a much faster and more convenient customer experience, reduces process costs and provides better risk management.”
Under the alliance, finleap connect will integrate OneConnect’s offerings into its products as well as ventures.
Commenting on the collaboration, finleap chief commercial officer and partner Carolin Gabor said: “We are impressed by OneConnect’s technical capabilities and deep understanding of digital transformation in financial services.
“Asia is clearly at the forefront here; you won’t find that level of maturity in European technology.”
finleap has operations in Berlin, Milan, Paris, and Madrid.
The firm recently snapped up Penta, a digital bank focusing on small businesses.
Notably, finleap obtained €41.5m in a funding round led by Ping An‘s Global Voyager Fund last November.