Today, Ping An’s blockchain and AI arm
OneConnect announced its progress on two smart lending platforms in South East Asia. The first, launched today, is SME-focused SeekCap developed with UBX, a subsidiary of the UnionBank of the Philippines. The second is a yet unnamed multi-finance platform which will provide vehicle loans in Indonesia, built with Sinar Mas.
The news comes on the same day China-based OneConnect filed for a
$100 million IPO of American Depository Shares. Anticipated for some time, the firm made many overseas partnerships before the IPO, including the Philippines and Indonesia.
OneConnect first
partnered with UBX four months ago for a blockchain-based financial services project. Around the same time, the firm
struck deals with Bank Sinarmas and credit bureau Indonesia Jaya. Both partnerships aimed at widening access to finance for micro-businesses and SMEs (MSMEs).
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Image Copyright: OneConnect
