OneConnect expands its presence in the Middle East, by developing with Abu Dhabi Global Market a digital SME funding platform

SINGAPORE,Sept. 19,2022 --OneConnect Financial Technology Co.,Ltd ("OneConnect" or the "Company",Stock Code: 6638.HK),a leading Technology-as-a-Service ("TaaS") provider,announced that it will help develop the Abu Dhabi Global Market (ADGM) SME Financing Platform,an integrated digital finance marketplace that will transform the financing services landscape for small and medium enterprises (SMEs) in the United Arab Emirates (UAE). Working with ADGM,the international financial centre in the capital of the UAE,the intelligent marketplace will help advance financial inclusion,enhance transparency,alleviate operational costs in SME finance and improve the overall customer experience for SMEs and funding organizations.

The ADGM SME Financing Platform will be an open and inclusive digital finance platform that improves SMEs' access to financing. As a marketplace connecting various key stakeholders such as SMEs,multi-lenders and data sources from government agencies,and supported by a robust loan origination process which enables seamless transfer of data,the platform will enable better,faster and more risk-appropriate financing decisions to be made. The entire loan application process is made agile and simplified through the use of digital tools such as e-contracts and e-signatures.

As a result,SMEs will be able to access a wider range of financing options such as effective supply chain finance solutions. It will also give financiers such as banks and credit funds access to a wider pool of customers. Further,an intelligent recommendation engine will help SMEs identify the best-fit loan products available to them within the marketplace.

"At OneConnect,we believe in creating long term value for our clients. We listen to our client's needs and deliver next generation omni-solutions which can cater to not only their present needs but their future needs as well. With ADGM,this is our second project,which is a direct reflection of our deepened client relationships and trust. We believe that great things in business are never done by one person! We learn from all to build for all. We are excited to bring our expertise in developing digital financial solutions for SMEs within the UAE region and eventually to Middle East and North Africa(MENA) region" said Ms Tan Bin Ru,CEO (Southeast Asia) of OneConnect Financial Technology.

Earlier,OneConnect had worked with ADGM to launch the Digital Lab in early 2021. The Digital Lab is UAE's first Open API platform that allows financial institutions and FinTech innovators to collaborate and build the next generation of digital financial services.

"SMEs are a key contributor to economic growth and are deserving of an open and transparent marketplace for financial products," said Dhaher bin Dhaher Al Muhairi,CEO of ADGM Registration Authority. "With the new platform,SMEs will find more convenient,affordable and effective financing solutions that will further improve the competitiveness and diversification of the UAE economy and transform the financing landscape in the MENA region."

Despite challenges caused by the ongoing global COVID-19 pandemic,OneConnect has been successful in securing a new partnership building a strong relationship with ADGM. Through a comprehensive suite of technologies,a unique "Finance+Technology" business model and a customer-oriented approach,OneConnect will continue to explore future opportunities within the MENA region following the adoption of a cutting-edge platform by a leading financial centre and common law jurisdiction in the region.

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