Hong Kong Exchanges and Clearing signs MOU with Ping An to boost FinTech sector in the region

Hong Kong Exchanges and Clearing Limited (HKEX) has entered a memorandum of understanding (MoU) with Ping An Insurance to enhance the region’s financial market ecosystem.

The goal of the agreement is to explore possible areas of cooperation and collaboration in FinTech and data analytics to enhance the financial market environment.

Together, they will identify areas of collaboration which includes FinTech solutions across various asset classes, and the application of data and AI to boost connectivity between mainland China, Hong Kong and international markets.

Ping An, is an insurance, banking, and securities giant in China, which has established various FinTech solutions to aid digitalisation.

The company operates OneConnect, a SaaS provider of FinTech solutions for small and medium sized financial institutions. It offers tools including robo-advisors, mobile banking, online loans, smart risk prevention, auto insurance, and claims management, among others.

Earlier in the year, OneConnect formed a deal with finleap which would enable it to distribute its services into the European market. This deal marks the first time OneConnect will enter Europe’s financial market.

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