Ping An Insurance and HKEX Join Hands for Fintech and Data Analytics Collaboration for the Enhancement of the Financial Market Ecosystem.
Finews.Asia reported that a Mou was signed by HKEX chief executive Charles Li in Shenzen. There was a focus on fintech solutions across asset classes. Artificial Intelligence(AI) is to be used to improve and support connectivity of Hong Kong, China and international markets.
Peter Ma Mingzhe, chairman of Ping An Group said, “Ping An Group and HKEX will seek cooperation to facilitate HKEX in realizing its new vision of connecting China with the rest of the world”
The claims of his statement are to support the fact that Ping An has recently been sharing its the ambition to become a vendor technological services and not to compete directly in the digital banking sector.
The fintech arm of Ping An was also named i.e. “OneConnect”.It recently and successfully received a digital banking license in Hong Kong.
HKEX said in a statement.,600 banks and 80 insurance companies in China and internationally use OneConnect’s services.
The Ping An applied through the OneConnect and not directly as it only wants to be a provider of digital banking capabilities post an initial period of direct lending said co-chief executive Jessica Tan Sin-yin, Ping An Insurance Group