“Can Ping An's proprietary fintech infrastructure — credit analytics, eKYC, digital banking, and anti-fraud — be successfully productized and sold to banks across Asia?”
OneConnect was spun out of Ping An Group to commercialize the conglomerate's internal fintech infrastructure as a B2B SaaS offering for banks and financial institutions. The company's core proposition shifted from internal tooling to an external platform business — selling credit analytics, eKYC, digital banking (OneCosmo), and anti-fraud capabilities to banks across China and ASEAN. Its Singapore entity (ocft.com.sg) has become the primary vehicle for international expansion, positioning OneConnect as a full-stack fintech infrastructure provider for regional banks and digital lenders.
Oneconnect discloses OneCosmo (self-operated) as its banking provider, according to the Embedded Finance Index 2026.
Oneconnect does not disclose a bank charter of its own; its banking services are provided through OneCosmo (self-operated).
The Embedded Finance Index 2026 maps 2 layers in Oneconnect's stack: Banking / BaaS (OneCosmo (self-operated)); Lending (OneConnect Lending (end-to-end retail banking and SME risk management), Smart Credit System (one-stop financial solutions for inclusive lending), Finovo (ASEAN SME lending solution), Anti-fraud loan screening (device fingerprinting, blacklist databases) and 2 others).
Oneconnect is founded in 2015 and headquartered in Shenzhen, China (with Singapore operations at ocft.com.sg).
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