CIMB Bank Visits OneConnect to Discuss Fintech Innovations and the Future of Digital Finance
Recently, a delegation from CIMB Bank, including Group Chairman Datuk Nasir, Group Consumer and Digital Banking CEO Effendy Shahul Hamid, and CIMB Philippines CEO Vijay Manoharan, visited the Ping An Finance Center for a tour and exchange. They were accompanied by Ping An Group Co-CEO Jason Guo and OneConnect Chairman and CEO Chaochong Shen. The visit focused on in-depth discussions on the digital transformation of financial institutions, cutting-edge trends in fintech, and potential collaboration opportunities. The CIMB delegation highly praised OneConnect’s innovations and applications in artificial intelligence and big data, expressing eagerness to leverage OneConnect’s advanced technology and experience to drive innovation and development in digital financial services.
During the tour, OneConnect's Overseas Subsidiary CEO Matthew Chen showcased the latest digital financial solutions, including intelligent outbound calling, smart risk control, and digital banking. Through demonstrations and explanations, he highlighted the transformative impact of these solutions on streamlining business processes, reducing risks, and enhancing customer experiences. These innovations captivated the CIMB delegation, and both parties agreed that a win-win collaboration could provide customers with more convenient and efficient financial services.
At the meeting, OneConnect Chairman and CEO Chaochong Shen remarked that since their partnership began in 2019, CIMB and OneConnect have built a strong relationship. As a commercial technology service provider for financial institutions, OneConnect is committed to driving the digital transformation of the financial industry by offering innovative technologies and solutions tailored to meet the unique needs of different markets. CIMB, as a leading financial institution in Southeast Asia, has consistently worked to enhance customer experience and strengthen digital services. This exchange marks a new milestone in their collaboration and lays a solid foundation for future cooperation. Both parties expressed a desire to further expand their partnership and deepen their collaborative efforts.
CIMB CEO Effendy Shahul Hamid commended OneConnect for its commitment to innovation and its proactive approach to addressing the evolving demands of the financial industry. He highlighted the potential synergies between CIMB's extensive regional network and OneConnect's advanced technological capabilities, expressing optimism about exploring diverse and innovative collaboration methods to continuously enhance customer experience.
Founded in 1974 and headquartered in Kuala Lumpur, Malaysia, CIMB is one of Asia's largest investment banks and one of ASEAN's largest retail banks, with a business network spanning Southeast Asia and branches in 15 countries. Since the partnership began in 2019, CIMB Philippines and OneConnect have worked together to launch the bank's core system in 2020, introduce a new SAM cooperation model in 2023, and roll out the Lazada Paylater loan product in the first quarter of 2024. Both parties have continually aimed to enhance customer experience and drive digital transformation in finance through technology and products, empowering finance with technology and supporting economic development through financial services.
The collaboration between CIMB and OneConnect is expected to bring mutual business benefits and create new opportunities for innovation and growth in the financial industry in Southeast Asia. Together, they aim to build a new digital financial ecosystem, promote fintech innovation and progress, and provide more convenient and efficient financial services to customers, forging a promising future in digital finance.
In recent years, OneConnect has accelerated its global expansion, actively exploring overseas markets, particularly in Southeast Asia and the Middle East. In 2023, OneConnect's overseas customer revenue contribution increased by more than 30% year-on-year, becoming a significant growth driver. To date, OneConnect's business spans 20 countries and regions, including South Africa, Singapore, Thailand, Malaysia, Indonesia, UAE, the Philippines, and Vietnam, serving 186 overseas financial institutions, including the top three regional banks in Southeast Asia and two of the world's top ten insurance companies.
