Ping An FinTech arm chooses US over Hong Kong for IPO

November 15, 2019 | Machine Learning

Written by FinTech Alliance

Ping An FinTech arm chooses US over Hong Kong for IPO

The SoftBank-backed OneConnect sells tech platforms to smaller banks 

In Brief:

  • OneConnect is the the financial technology arm of China’s largest insurance company.
  • Bankers had initially estimated the company could raise up to $2bn in a potential Hong Kong listing
  • OneConnect's customer base includes all of China’s big banks and nearly half of the country’s insurance groups, with 3,700 customers in total.

What this means

In switching its IPO to the US OneConnect seems to be banking on its blockchain expertise to attract investors. Ping An has filed for the second-most blockchain patents in China, with 274 at the end of the first half of 2019.

Read more here

More in Machine Learning

Social giants police web with AI as staff sent home
Machine Learning
March 19, 2020

Social giants police web with AI as staff sent home

YouTube, Twitter and Facebook are all relying on artificial intelligence to identify problemati...

Finantix acquires InCube, a Swiss AI and data science company
Machine Learning
March 16, 2020

Finantix acquires InCube, a Swiss AI and data science company

The Zurich business is dedicated to wealth management and insurance In Brief The acquisitio...

Bank ABC Becomes First Bank in the Middle East to Employ Biometric-Based Digital KYC Functionality

Posted By The Community

Machine Learning
June 23, 2019

Bank ABC Becomes First Bank in the Middle East to Employ Biometric-Based Digital KYC Functionality

The Bank partners with Global Leader in AI-Powered Identity Verification, Jumio; streamlines digital...

Written By: Bank ABC

Machine Learning
October 17, 2019

Machine learning in UK financial services

In the financial services industry, the application of machine learning (ML) methods has the potenti...

Machine Learning
August 12, 2019

Machine learning explainability in finance: an application to default risk analysis

We propose a framework for addressing the ‘black box’ problem present in some Machine Le...

Machine Learning
March 01, 2019

Voice assistants in Financial Services: If you want voice assistants to engage, teach them the art of conversation

Developing a voice assistant for use within retail banking and what would enable it to succeed as a....

There are no Events in this category