Ping An's OneConnect eyes backstage role in S-E Asian digibank race
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Sharanya Pillai
Singapore
ONECONNECT, the fintech associate of China's Ping An Group, decided not to apply for a digital banking licence in Singapore after exploring the prospects, its chief executive for Asia-Pacific and the United Arab Emirates, Tan Bin Ru, told The Business Times.
The company, which already owns a virtual banking licence in Hong Kong, instead wants to position itself as a digital banking enabler in South-east Asia, providing end-to-end solutions for the upcoming crop of digital banks here.
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