OneConnect Signs Over RMB 200 Million in Overseas Deals, Boosting Global Growth Through Ping An's Integrated Finance Synergy
SHANGHAI, July 22, 2025 /PRNewswire/ -- Since June 2025, OneConnect has secured multiple fin-tech project contracts across international markets including Hong Kong SAR, Southeast Asia, and South Africa, with total contract value exceeding RMB 200 million (USD 28 million). The company continues to expand its roster of strategic global clients, diversify its project portfolio, and gain broader recognition for Ping An's integrated financial ecosystem capabilities worldwide.
Hong Kong: Billion-RMB SaaS Deployment and First Overseas Application of AI Deepfake Detection
In Hong Kong, OneConnect has deepened cooperation with local banks, signing contracts totaling over RMB 100 million (USD 14 million). Among them, a leading retail bank adopted a SaaS-based eKYC anti-fraud solution that integrates identity authentication, HKID document recognition, deepfake detection, and other core modules. The solution is expected to serve over 70% of Hong Kong's retail banking customers, marking a breakthrough for OneConnect's SaaS subscription model in the premium market.
At the same time, the company reached another agreement with a local bank to implement both eKYC and AI deepfake detection. The service covers remote onboarding and identity verification for residents in Hong Kong, Macau, and mainland China—marking the first deployment of AI-powered anti-GenAI technology in an overseas bank.
In addition, OneConnect secured a public sector contract to upgrade the information system of a Hong Kong government department. The project will consolidate various office systems onto a unified platform to improve administrative efficiency and lays the groundwork for future export of "Happy Ping An"-branded digital governance solutions.
Southeast Asia: Core Banking System Deal in Vietnam, Auto Ecosystem Model Expands
Following deployments in Singapore, the Philippines, Malaysia, and the Middle East, OneConnect has reached an agreement on 30th of June with a top-tier Vietnamese bank to implement a core banking project. The project features a significantly higher proportion of product value compared to earlier deals. It will be rolled out firstly in a subsidiary bank and later expanded across the parent institution. Besides of the core banking system, this client also shows its interests in the localization of modules including AI, risk control, lending, and auto finance.
On the same day, OneConnect also reached a strategic agreement with a leading Vietnamese infrastructure and transportation operator to build a localized, one-stop automotive ecosystem. The solution spans auto insurance tech, vehicle finance, post-sales services, big data, and AI applications. The project is positioned as a model for replication across Southeast Asia's trillion-RMB auto ecosystem market and strengthens the foundation for Ping An's expansion in overseas auto finance.
South Africa: Expanding Partnership with Old Mutual to Deliver Ping An's Life Insurance Capabilities
In South Africa, OneConnect has deepened its strategic partnership with Old Mutual, expanding from a single "Life lnsurance Universal Agent" product to a comprehensive life insurance system including customer service platforms and intelligent underwriting and claims processes. Since 2022, the two companies have launched seven phases of the Life lnsurance Universal Agent solution, significantly improving agent productivity and customer conversion rates. As a flagship life insurance solution, Life lnsurance Universal Agent draws on Ping An's deep operational experience and applies AI and big data to achieve both standardization and localization.
In 2025, senior executives from Old Mutual visited Ping An's facilities in Zhangjiang and Suzhou to observe call center and customer service operations. These visits led to new agreements around platform-based solutions, highlighting Ping An's appeal in global life insurance markets and showcasing its ability to transform operational models through technology.
Technology-Driven and Ecosystem-Oriented: Advancing Chinese Fintech on the Global Stage
From Hong Kong SAR to Southeast Asia and Africa, from banking to public services, and from standalone products to full ecosystem partnerships, OneConnect is accelerating the global implementation of its "Platform + Ecosystem" model by leveraging Ping An's integrated financial resources and technological strengths.
Looking ahead, OneConnect will continue to deliver more intelligent, scenario-based, and SaaS-driven solutions to meet the evolving needs of global financial institutions—driving the global influence of Chinese fintech and contributing to the digital transformation of financial services worldwide.
SOURCE OneConnect Financial Technology Co., Ltd
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