OneConnect Financial Technology, a technology-as-a-service platform for financial institutions, has launched an omni platform called OneCosmo for digital banking solutions in partnership with Pismo, a Brazilian banking Software-as-a-Service (SaaS) firm.

According to OneConnect Financial, the launch of the digital banking solutions suite is the result of the joint product offerings of the company and Pismo following a partnership that began in April 2022.

Pismo North America, EMEA, and APAC CEO Vishal Dalal said: “Pismo’s mission is to help banks and FinTechs deploy the next-gen of innovative products on the cloud for their customers, and we’re excited to extend that mission with this new offering for Asia.

“The launch of OneCosmo showcases our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services.”

OneCosmo is said to utilise next-generation technology like artificial intelligence (AI), blockchain, machine learning (ML), and SaaS. The suite of solutions is said to be geared towards providing banks and financial institutions with a highly scalable and easy to integrate solution to develop digital banking capabilities.

The solutions offered by the new suite are said to span a variety of services. These include digital identity verification, core banking, digital payments, and digital lending.

The OneCosmo platform also enables integration across various third-party service providers using its application processing interfaces (APIs) and microservices, said OneConnect Financial, which is an associate of Ping An Group.

Owing to its pre-integrated and pre-configured features, prospective users of the platform can fully onboard themselves onto it within a matter of weeks. This also flexibility to financial institutions for customising the specifications they need.

OneCosmo will also let financial institutions make use of real-time data streaming, which enables increased insight into consumer behaviour with the help of data analysis, said OneConnect Financial.

Presently, the platform is available in Southeast Asian countries such as Thailand, Indonesia, Malaysia, Singapore, and The Philippines, with plans to extend its offerings to financial institutions based in the Middle East.

OneConnect Financial Southeast Asia CEO Tan Bin Ru said: “Here at OneConnect, driving the digitalisation of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo allows us to further amplify our vision for more institutions at a larger scale.

“With the combination of SaaS and TaaS, OneCosmo is an omni-channel platform which enables us to better service financial institutions of all sizes.”