← Embedded Finance Index 2026

Oneconnect

“Can Ping An's proprietary fintech infrastructure — credit analytics, eKYC, digital banking, and anti-fraud — be successfully productized and sold to banks across Asia?”

Founded2015
HQShenzhen, China (with Singapore operations at ocft.com.sg)
IndustryInfrastructure / BaaS
The story

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.

Last 12 months
2022-10
2023-01
Product timeline
2015
OneConnect Financial Technology founded as a fintech arm of Ping An Group, based in Shenzhen, China.· pivot
2019
Filed for IPO with SEC (registration statement referencing Cayman Islands structure and Shenzhen VIE entities); received comprehensive credit line of RMB 4.5 billion from Ping An Bank.· banking
2019
Expanded Singapore operations via OneConnect Smart Technology entity, offering digital banking, lending and eKYC products to regional financial institutions.· banking
2022
Launched Finovo, a smart lending solution targeting ASEAN SME financing gaps through the Singapore entity ocft.com.sg.· lending
2023
Announced partnership with Bank Mayapada (Indonesia) for digital onboarding via eKYC and comprehensive fintech solutions suite.· banking
Regulated entities
1
regulatory licence held by Oneconnect
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
2 layers disclosed in Oneconnect’s embedded-finance stack
Banking / BaaS
OneCosmo (self-operated)
Lending
in the full report
Accounting gap: none
6 more providers across 1 layer, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.