OneConnect expands its presence in the Middle East, by developing with Abu Dhabi Global Market a digital SME funding platform

OneConnect expands its presence in the Middle East, by developing with Abu Dhabi Global Market a digital SME funding platform

SINGAPORE/PRNewswire/ -- OneConnect Financial Technology Co., Ltd ("OneConnect" or the "Company", Stock Code: 6638.HK), a leading Technology-as-a-Service ("TaaS") provider, announced that it will help develop the Abu Dhabi Global Market (ADGM) SME Financing Platform, an integrated digital finance marketplace that will transform the financing services landscape for small and medium enterprises (SMEs) in the United Arab Emirates (UAE). Working with ADGM, the international financial centre in the capital of the UAE, the intelligent marketplace will help advance financial inclusion, enhance transparency, alleviate operational costs in SME finance and improve the overall customer experience for SMEs and funding organizations.

The ADGM SME Financing Platform will be an open and inclusive digital finance platform that improves SMEs' access to financing. As a marketplace connecting various key stakeholders such as SMEs, multi-lenders and data sources from government agencies, and supported by a robust loan origination process which enables seamless transfer of data, the platform will enable better, faster and more risk-appropriate financing decisions to be made. The entire loan application process is made agile and simplified through the use of digital tools such as e-contracts and e-signatures.

As a result, SMEs will be able to access a wider range of financing options such as effective