The fintech vehicle of Ping An Group has launched a new system for expediting the digital transformation of banking sector financial institutions.
OneConnect Financial Technology announced the launch of its Gamma Core platform on 24 November, as a “core banking system for financial institutions.”
According to OneConnect the goal of Gamma Core is to facilitate the complete top-to-bottom digital restructuring of banks, as well as upgrade their underlying architecture, business processes and core systems.
OneConnect is touting the concept of the “three ones” as the basis for the Gamma Core system, including one bank for all customers, one renminbi single account operating costs, and only one percent of transactions requiring human intervention due to the application of artificial intelligence.
“The bank of the future needs to be more customer-centric than ever to help clients meet their personalized financial needs and access better services at any time and location,” ,” said Li Jie, Chief Technology Officer of OneConnect. Digitalization, intelligence and transparency are fundamental pillars of the new digital economy, and banks seeking to thrive in the future will need to embrace these ideas within their core systems.”