Chinese financial technology company OneConnect has launched a regional operations hub in the Abu Dhabi Global Market (ADGM) to introduce its digital banking solutions.

OneConnect and the ADGM previously worked together on the ADGM Digital Lab, a marketplace and industry sandbox to encourage the development of fintech solutions under the guidance and supervision of the Financial Services Regulatory Authority (FSRA), which was launched in April 2021.

The platform comprises a product and API marketplace where fintech firms looking to do business in the MENA region can showcase their solutions and access tools for product experimentation.

More recently, ADGM started a project with OneConnect to develop a financing platform for small and medium enterprises (SMEs) to improve their access to financing.

“With two successful cooperation initiatives with AGDM and the newly-opened OneConnect Smart Technology office in Abu Dhabi, we are confident of contributing to the digital transformation of the finance sector within the MENA region,”

said Annie Ong, Chief Revenue Officer of OneConnect Financial Technology.

“We are pleased to welcome OneConnect into ADGM’s vibrant community and the UAE. Their speciality in financial services technology will bolster our innovation ecosystem and provide easy accessibility to effective digital finance solutions,”

said Dhaher bin Dhaher Al Muhairi, CEO of ADGM Registration Authority.