SHENZHEN, China, Sept. 3, 2020 /PRNewswire/ -- OneConnect Financial Technology Co., Ltd. ("OneConnect" or the "Company") (NYSE: OCFT) was awarded Best Lending Implementation in China for its remote credit review system by The Asian Banker's China Awards Programme 2020.
OneConnect's system helps companies control fraud risks
Integrating leading technologies such as micro expression recognition, OneConnect's remote credit review system can analyze facial expressions during credit interviews using smartphone cameras to flag potential fraudulent activity for further investigation. The most notable benefit for retail banking is the system's decision-making engine, which has been shown to cut credit losses during the risk approval process.
OneConnect, an associate of Ping An Group, is a world-leading technology service platform for financial institutions in China. It provides comprehensive end-to-end solutions for banks, insurers, and investment managers by integrating extensive financial services experience with market-leading technology.
The Company enables customers to manage risks, enhance service quality, improve efficiency, increase revenue and reduce costs in their digital transformations. As of June 30, 2020, the Company served over 50 international customers in over 15 markets.
Mr. Ye Wangchun, Chairman of the Board and Chief Executive Officer of OneConnect, said, "For years we have been dedicated to providing end-to-end solutions like the award winning remote credit review system. As a true market disruptor, we are propellered by our upfront AI technology and well recognized transaction-based revenue model, enabling us speedy and sustainable growth."
About The Asian Banker's China Awards Programme
Since its inception in 2006, The Asian Banker's China Awards Programme has become one of the most respected annual rewards in the financial services industry.
The Asian Banker Institute, serving as the award's review committee, received nearly 400 applications from Chinese institutions. During the over three-month review process, the institute evaluated the applicants using a score card system that analyzed multiple aspects of their credit review processes.
The list of finalists was submitted to an independent review board comprised of recognized industry experts, consultants and leaders. The evaluation process involved comprehensive research and analysis, data comparison and in-depth interviews to ensure that the review process was rigorous, fair and transparent.