OneConnect
OneConnect is a Ping An Group-affiliated fintech providing AI-driven digital banking, insurance, and core banking systems to banks, insurers, and regulators across China and 20+ international markets.
- Company typePublic
- Founded2018
- HeadquartersShanghai, China
- Headcount1,001–5,000
- GTM typeB2B
- OfferingSoftware
What OneConnect does
OneConnect Financial Technology Co. Ltd. (金融壹账通, NYSE: OCFT; HKEX: 6638) is a publicly-listed technology-as-a-service (TaaS) provider for financial institutions and the sole external fintech export window of Ping An Group. The company delivers AI-driven digital transformation solutions to banks, insurance companies, financial holding groups, and government regulators across China and 20+ international markets, with 214 overseas financial institution clients as of mid-2025 and a domestic footprint covering all Chinese state-owned banks, 99% of city commercial banks, 65% of property insurers, and 48% of life insurers.
The company's product architecture is organized into three core lines: Digital Banking (retail digitalization, digital credit, and core banking modernization via the GAMMA CORE cloud-native core system supporting 10,000 TPS and 1 billion daily transactions), Digital Insurance (auto, non-auto, and life insurance transformation including the Universal Agent platform and smart claims processing), and the Gamma Platform (AI infrastructure spanning Gamma Voice, Gamma Vision, Gamma O open data, and Smart Brain modules). Underlying capabilities include proprietary financial LLMs, computer vision (180+ document types recognized), speech recognition (Voice Model 4.0), a BaaS blockchain platform supporting 80,000 TPS, and a privacy computing platform deployed across 50+ financial institutions with PBC endorsement. The company has filed 5,652 global patent applications and won the PBC FinTech Development Award for four consecutive years (2021-2024).
The business model combines subscription-based SaaS, software licensing, professional services, and virtual banking operations. Revenue streams include the TaaS core platform, overseas third-party revenue (22.8% of third-party revenue in Q1-Q3 2024, growing 23.4% YoY), and net interest income from PAOB (Ping An OneConnect Bank), a wholly-owned Hong Kong virtual bank serving SMEs with over HK$8 billion in customer deposits by Q3 2025. Distribution is enterprise field sales with regional offices in Hong Kong, Singapore, Malaysia, and Indonesia. Q3 2024 continuing operations revenue was 417M RMB with a 32.7% gross margin, and the company reported 1.1 billion RMB in net profit attributable to shareholders for the first three quarters of 2024 (up 138.9% YoY), positioning it as a mid-sized, globally-expanding fintech with mixed profitability signals.
OneConnect firmographics
Firmographics- Name
- OneConnect
- Legal name
- OneConnect Financial Technology Co. Ltd. (壹账通金融科技有限公司)
- Website
- https://ocft.com
- Company type
- Public
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 1,001–5,000 employees
- Short description
- OneConnect is a Ping An Group-affiliated fintech providing AI-driven digital banking, insurance, and core banking systems to banks, insurers, and regulators across China and 20+ international markets.
- Ownership category
- akta.pro rank
OneConnect industry classification
Industry- Product category
- Financial Technology / Enterprise Fintech Software
- NAICS
- Finance and Insurance (52)
- SIC
- Finance Services (6199), Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Digital Asset Risk, Security & Audit Tooling (Smart Contract Audit, Threat Monitoring) (FSAGAMAJ)
- akta.pro secondary industries
- Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions) (FSAGAMAH), Compliance, Risk & RegTech for Tokenized Assets (KYC/AML, sanctions, travel rule, reporting) (FSAPAIAH)
Keywords
Where OneConnect is headquartered
LocationHeadquarters
- HQ city
- Shanghai
- HQ country
- China
- HQ region
- Asia
Offices5 records
Markets served
OneConnect business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Technology-as-a-Service (TaaS) for Financial Institutions: OneConnect provides technology solutions and technology-enabled business solutions to financial institutions on a subscription and project-based model. Revenue is derived from software licensing (both one-time and recurring/subscription), SaaS subscription fees, and professional services for implementation and customization. The company has been transitioning toward higher-margin standardized SaaS products, as evidenced by multiple million-yuan-level SaaS contracts signed in Hong Kong.
- Overseas / International Business Revenue: Third-party overseas customer revenue grew 23.4% YoY in the first three quarters of 2024, accounting for 22.8% of third-party revenue. International expansion includes core banking systems, AI credit platforms, eKYC, insurance technology, and vehicle ecosystem solutions sold to financial institutions across Southeast Asia, Hong Kong, the Middle East, and Africa.
- Virtual Banking (PAOB): PAOB (Ping An OneConnect Bank), a wholly-owned subsidiary, is a virtual bank in Hong Kong serving SMEs and individual customers. Revenue comes from net interest income and fee income from banking services.
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
OneConnect product offering
Product offeringCore offering
OneConnect provides Technology-as-a-Service (TaaS) solutions to financial institutions, including digital banking, digital insurance, and a proprietary Gamma technology infrastructure platform. Its portfolio spans cloud-native core banking systems (GAMMA CORE), AI-powered credit, risk, anti-fraud and eKYC modules, insurance digitalization (claims, underwriting, agent enablement), and blockchain-as-a-service infrastructure. The company sells to banks, insurers, financial holding groups, and government regulators in China and 20+ overseas markets, while also operating the PAOB virtual bank in Hong Kong.
Product overview
OneConnect (金融壹账通) offers a comprehensive "Technology + Business" FinTech platform for financial institutions, comprising three core product lines: Digital Banking (数字化银行), Digital Insurance (数字化保险), and the Gamma Platform (加马平台). The Gamma Platform serves as the foundational technology infrastructure providing AI-powered capabilities including Gamma Voice (智能语音) for voice intelligence, Gamma Vision (智能视觉) for computer vision, Gamma O (开放数据平台) for data infrastructure, and Smart Brain (智慧大脑) for management solutions. Digital Banking covers retail banking, credit management, and marketing automation through modules like 营销E, 财富E, 行员E, and the GAMMA CORE bank core system. Digital Insurance provides end-to-end solutions for auto, non-auto, and life insurance including claims management, smart dual recording, and the Universal Agent product. Additional products include the Anti-Fraud Strategy Platform for deepfake detection, Smart Document Review solutions, and Vehicle Ecosystem Platform. The company also operates the Guangdong SME Financing Platform utilizing blockchain technology. All solutions are designed for financial institutions' digital transformation with AI as the core driver.
Differentiator
Problem solved
Functional benefit
Brands
- Gamma Platform (加马平台): Proprietary technology infrastructure platform for financial institutions providing AI voice, open platform, blockchain and financial cloud solutions.
- GAMMA CORE
- Gamma O (开放平台)
- Gamma Voice (智能语音)
- Gamma Vision (智能视觉)
- Smart Brain (智慧大脑)
- 小壹智能客服机器人 (Xiao Yi Smart Customer Service Robot)
- 全能代理人 (Universal Agent)
Products and services
- Digital Banking (数字化银行) End-to-end digital banking solution covering retail banking digitalization, credit digitalization, and smart management for banks, with modules including Marketing E, Wealth E, Banker E, smart due diligence, risk management, and credit systems.
- Digital Insurance (数字化保险) End-to-end digital insurance solution covering auto insurance, non-auto (health) insurance, and life insurance, including claims service platforms, owner service platforms, repair service platforms, product factories, smart dual recording, and the Universal Agent life insurance solution.
- Gamma Platform (加马平台) Integrated technology infrastructure platform for financial institutions providing AI-powered capabilities including Gamma Voice, Gamma Vision, Gamma O open data platform, and Smart Brain management solutions.
- GAMMA CORE Bank Core System (GAMMA CORE 银行核心系统) Next-generation cloud-native, microservices-based banking core system supporting 10,000+ TPS per system and 1 billion daily transactions, designed for full digital transformation of bank core infrastructure.
- Smart Credit System (智能信贷系统) End-to-end digital credit system providing automated loan processing, AI-powered risk assessment, and credit management for banks. Completes liveness detection and identity verification in 10 seconds.
- Xiao Yi Smart Customer Service Robot (小壹智能客服机器人) Large model-powered intelligent customer service robot with auto Q&A and agent-assist modules, supporting automated knowledge base generation, multi-turn conversations, and cross-channel deployment for financial institutions.
- Universal Agent Platform (全能代理人) Digital platform for life insurance agents covering recruitment, sales, performance management, and customer service, including unified service workbench and intelligent AI tools. First globally to integrate Ping An operational experience with AI and big data.
- Anti-Fraud Strategy Platform (反欺诈策略平台) AI-powered anti-fraud platform with 25+ modules including face recognition, multi-country ID NFC recognition, Deepfake detection, and device risk assessment. Achieves 99%+ comprehensive defense rate against AI-generated forgeries.
- Smart Document Review System (智能资料审核) AI document review solution supporting 180+ financial document types with 95%+ recognition accuracy, integrating OCR, NLP, large models, intelligent classification, and rule engine for full-process intelligent review.
- Vehicle Ecosystem Platform (车生态平台) Comprehensive automotive ecosystem platform covering vehicle transactions, auto loans, auto insurance, maintenance, car washing, and owner lifestyle services, connecting 260,000+ service providers and serving 120 million+ car owners.
- BaaS Blockchain-as-a-Service Platform Self-developed blockchain infrastructure supporting 80,000 TPS, 10,000+ alliance chain nodes, cross-chain interoperability across three protocols, and privacy computing features for supply chain finance, traceability, and carbon emission management.
- eKYC Platform (Electronic Know Your Customer) Electronic identity verification SaaS platform supporting Hong Kong ID authentication, liveness detection, criminal record screening, and AIGC Deepfake detection, covering 70%+ of Hong Kong retail banking users.
- PAOB (Ping An OneConnect Bank) Virtual Banking Hong Kong-based virtual bank serving SMEs and individual customers; wholly-owned subsidiary of OneConnect providing net interest income and fee income from banking services. Customer deposits exceeded HK$8 billion by Q3 2025.
- Guangdong SME Financing Platform (广东省中小企业融资平台) Blockchain-enabled SME financing platform connecting financial institutions with government data for SME lending. As of end-2021, served 1 million+ SMEs and facilitated 779 billion RMB in financing.
- SLP Smart Loan Platform (SLP 智能借贷平台) Smart loan platform product upgraded and expanded for overseas markets, enhancing overseas customer business development capabilities; new eKYC product line offered in Hong Kong under a SaaS subscription model.
Quantifiable outcome
- SME financing platform served 1 million+ SMEs with 779 billion RMB facilitated
- +14 more outcomes
Companies that use OneConnect
Customer profileNamed customers18 records
Segments5 records
Ideal customer profiles2 records
OneConnect technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability15 records
Feature10 records
OneConnect partnerships and signals
Strategic signalPartnerships
18 partnerships are on record, tiered key, core, strategic and minor.
- PAObank / Hong Kong Police ForcekeyPAObank and OneConnect's 'Anti-Fraud Strategy Platform' jointly selected for HKMA GenA.I. Sandbox Phase 2 in October 2025. Focuses on using AI facial recognition to detect deepfake attacks in identity verification. First 'AI vs AI' anti-fraud sandbox in Hong Kong.
- VPBank (Vietnam Prosperity Joint Stock Commercial Bank) / 越南兴旺股份商业银行coreBusiness cooperation signing ceremony held in Hanoi, Vietnam in September 2025. OneConnect will implement next-generation banking core system GAMMA CORE (covering CIF, deposit, loan, GL management, and integration with mobile banking, payments, AML, LOS, and collection systems). Single system capable of 10,000 TPS. First deployment at subsidiary GPBank, then parent bank rollout.
- Inspur Enterprise Cloud & Inspur Computer Technology / 浪潮企业云 & 浪潮计算机科技strategicThree-party strategic cooperation agreement signed July 2025 to build AI computing ecosystem. Combining OneConnect's AI and fintech expertise, Inspur Enterprise Cloud's cloud computing capabilities, and Inspur Computer Technology's hardware (servers with 14% market share, ranked No. 1 in China in 2024). Aiming to serve global financial, government, and enterprise customers with secure AI solutions, particularly supporting Belt and Road digital infrastructure projects.
- Vietnam Transportation and Infrastructure Group / 越南某交通运营集团keyFormal strategic cooperation signed June 2025. OneConnect to build a 'one-stop' digital vehicle ecosystem platform covering vehicle transactions, auto loans, auto insurance, maintenance, car washing, and owner lifestyle services. First phase through field interviews and gap analysis to build Vietnam-adapted digital vehicle ecosystem system.
- Hong Kong Banks / 香港本地银行coreOneConnect signed eKYC anti-fraud project cooperation with a Hong Kong-headquartered bank (total project value in the hundred-million-yuan range). Also signed eKYC and AIGC Deepfake project with another Hong Kong bank, covering remote account opening, identity authentication, and anti-deepfake detection. eKYC products expected to serve 70%+ of Hong Kong retail banking users. Also signed government information system project with Hong Kong government department.
- Generali Group / 忠利集团keyHosted strategic meeting with Generali Group's 18-member executive delegation in Singapore in November 2025. Discussions covered Ping An's integrated financial model, customer engagement system, life insurance channel reform, and auto ecosystem development. Generali is Europe's leading comprehensive insurance group (194-year history, 2024 annual premiums exceeding 700 billion RMB).
- Hong Kong Government / 香港特区政府keyWon Hong Kong government digital transformation contract for information system deployment. Successfully bid for public sector digital projects supporting 'iAM Smart' initiative. Government project contract signed June 2025 with total value exceeding 100 million yuan.
- Great Eastern Life Assurance / 大东方人寿保险 (Singapore)keyExchange meetings held with Great Eastern Life Assurance on insurance digital transformation. Great Eastern is Singapore's largest and most market-share-leading insurance company (established 1908). Discussed smart face interview solutions and comprehensive intelligent wealth management. Mutual interest in cooperation in intelligent risk control and customer service optimization.
- China Insurance Auto Service (中保车服)keyStrategic cooperation framework agreement signed April 2025. Focus on comprehensive insurance technology cooperation to help the insurance industry achieve high-quality development.
- SBF Philippines / 菲律宾中小企业银行keyThree-year partnership renewal signed in 2024 (originally signed in 2021). Continued cooperation on smart lending solutions for the Philippines market.
- CIMB (联昌国际银行, Philippines) / 菲律宾联昌国际银行coreMulti-year strategic cooperation covering system operations, upgrades, cybersecurity, and data management analysis. Philippines subsidiary core system renewal agreement signed in 2024. Cooperation expands digital financial services across the ASEAN region over the next four years.
- SAPminorSAP co-exhibited with OneConnect at InsureTech Connect Asia 2024, sharing a joint booth. SAP is OneConnect's technology partner for enterprise software deployment.
- ABeam ConsultingminorOfficial sponsor of InsureTech Connect Asia 2024 for the second consecutive year, hosting a joint booth with SAP and moderating panel discussions on digital strategy.
- Old Mutual (耆卫保险集团, South Africa) / 南非耆卫保险coreStrategic cooperation began in 2022 with Universal Agent platform. In 2024, expanded to include customer service platform and life insurance core system for underwriting and claims automation. Multiple visits by Old Mutual executives to Ping An facilities in 2025 to study operational excellence. Cooperation reflects Ping An's 'technology ecosystem transforms business ecosystem' model.
- Ping An Group / 中国平安集团coreOneConnect is the sole external fintech output window of Ping An Group. As Ping An Group's associate company, OneConnect leverages Ping An's 30+ years of financial industry experience, technology capabilities, data assets (30+ trillion bytes, 3.2 trillion text tokens, 310,000 hours of annotated speech, 7.5 billion images), and customer relationships for its fintech solutions.
- PAObank (Ping An OneConnect Bank) / 平安壹账通银行coreWholly-owned subsidiary of OneConnect and member of Ping An Group. PAOB is Hong Kong's first virtual bank focused on serving SMEs. OneConnect provides AI anti-fraud technology to PAOB, with the Anti-Fraud Strategy Platform selected for HKMA GenA.I. Sandbox Phase 2. PAOB customer deposits exceeded HK$8 billion by Q3 2025.
- Guoren Property & Casualty Insurance / 国任保险coreStrategic cooperation agreement signed in August 2020. OneConnect provides smart car damage assessment, intelligent anti-fraud, and smart office solutions. Guoren achieved premium scale exceeding 10 billion RMB and turned loss into profit after digital transformation.
- Abu Dhabi Global Market (ADGM) / 阿布扎比国际金融中心coreSigned 'Financial Technology Development and Innovation' MoU in Beijing in July 2019. In April 2020, signed Digital Lab project cooperation agreement. The ADGM Digital Lab, launched in May 2021, was built on OneConnect's Gamma O platform as a virtual sandbox for financial innovation and regulation, serving UAE Central Bank, First Abu Dhabi Bank, and Anglo-Gulf Trade Bank. More than 330 institutional users registered as of the launch. In November 2021, OneConnect and ADGM presented the Digital Lab at Fintech Abu Dhabi Festival.
Scale indicators14 records
Recent moves13 records
Expansion highlights7 records
OneConnect competitors and assessment
Company assessmentMarket position
Competitive moat7 records
Key risks6 records
Key highlights7 records
Customer concentration
OneConnect social profiles
Digital presenceOneConnect compliance and trust
Trust signalCompliance2 records
OneConnect financial estimates
Financial estimateRevenue estimate
Valuation estimate
OneConnect leadership team
Management profileNumber of profiles
Profiles14 records
OneConnect subsidiaries and ownership
Company hierarchySubsidiaries5 records
OneConnect funding detail
Funding detailFunding overview
Funding rounds2 records
Investors3 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
OneConnect M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about OneConnect
What does OneConnect do?
OneConnect provides Technology-as-a-Service (TaaS) solutions to financial institutions, including digital banking, digital insurance, and a proprietary Gamma technology infrastructure platform. Its portfolio spans cloud-native core banking systems (GAMMA CORE), AI-powered credit, risk, anti-fraud and eKYC modules, insurance digitalization (claims, underwriting, agent enablement), and blockchain-as-a-service infrastructure. The company sells to banks, insurers, financial holding groups, and government regulators in China and 20+ overseas markets, while also operating the PAOB virtual bank in Hong Kong.
Is OneConnect a public or private company?
OneConnect is a public company. It is classified as corporate owned and is currently operating.
When was OneConnect founded?
OneConnect was founded in 2018. It employs 1,001 to 5,000 people.
Where is OneConnect based?
OneConnect is headquartered in Shanghai, China, in the Asia region.
How does OneConnect make money?
Three revenue lines are on record. Technology-as-a-Service (TaaS) for Financial Institutions are the primary driver. The others are overseas / International Business Revenue and virtual Banking (PAOB).
Does OneConnect have an API?
No public API is recorded for OneConnect.
What industry is OneConnect in?
OneConnect's product category is Financial Technology / Enterprise Fintech Software. Its primary akta.pro industry code is FSAGAMAJ, Digital Asset Risk, Security & Audit Tooling (Smart Contract Audit, Threat Monitoring), with a secondary code of FSAGAMAH, Smart Contract & Token Operations Infrastructure (Lifecycle, Corporate Actions). Its NAICS code is 52 and its SIC code is 6199.