With the rapid development of financial market, Abu Dhabi Global Market once struggled to keep the balance between financial security and innovation, which brought many thorny problems such as late access for service providers, inconsistent access standards, and lack of service quality evaluation methods and monitoring methods.
To create application scenarios and open platforms for various financial institutions to carry out innovative businesses, after more than a year of intensive preparation and development, the ADGM Digital Lab was officially launched in May 2021.
"So far, more than 330 institutions or individual users have registered the Digital Lab platform. These financial institutions from Abu Dhabi and other regions include UAE Central Bank, First Abu Dhabi Bank and Anglo-Gulf Trade Bank."
To create application scenarios and open platforms for various financial institutions to carry out innovative businesses, after more than a year of intensive preparation and development, the ADGM Digital Lab was officially launched in May 2021.
So far, more than 330 institutions or individual users have registered the Digital Lab platform. These financial institutions from Abu Dhabi and other regions include UAE Central Bank, First Abu Dhabi Bank and Anglo-Gulf Trade Bank.
In terms of product design, the Abu Dhabi Digital Lab uses the Gamma O open platform developed by OneConnect as a framework to build a financial innovation service platform based on virtual sandboxes and focuses on portal marts and forums.
In terms of product, the Digital Lab has set modules such as portal homepage, digital market, developer forum and demand challenge board for users to support the external display of innovative products, the release of scientific and technological needs of the financial institutions, and the exchange of financial practitioners, so as to attract scientific and technological service providers and financial institutions;
As for application, through OneConnect’s Gamma O open platform, the Digital Lab has created core functions such as orchestration, gateway, and organization management to support the orchestration of serial, parallel, polling, timing and other complex services, and the online unified configuration, release, debugging of interfaces, as well as the setting of functional modules such as entry authentication and rating.
It is worth noting that in the virtual sandbox serving financial supervision, Abu Dhabi Digital Lab can realize basic functions such as data isolation, resource quota, storage management, etc., and ensure that the platform sandbox can manage tenants, applications, and mirror images, helping to improve the digital supervision of platform users by financial regulators.
Amid the financial globalization, the ADGM Digital Lab jointly built by OneConnect and Abu Dhabi Global Market will comprehensively lead the innovation and development of financial sci-tech in West Asia, North Africa and other regions in Middle East, and create a typical example of China's financial sci-tech companies going global in a faster pace to promote the high-quality construction of the Belt and Road Initiative.
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