Fintech PR
Ping An approves the creation of a new-generation open and innovative AI platform
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2019 World Artificial Intelligence Conference (WAIC), a conference bringing together the world’s leading artificial intelligence (AI) technologies, formally raised the curtain on August 29. The conference attracted industry leaders and cutting-edge technologies from both within China as well as many different countries and regions around the world. OneConnect, a leading technology-as-a-service platform for financial institutions in China, showcased several futuristic technologies at the conference, showcasing to the industry its scientific and technological capabilities alongside results in empowerment.
At the conference, Li Meng, Vice Minister of Science and Technology of the People’s Republic of China, announced ten open and innovative AI platforms that had been approved at the state level. Ping An Insurance (Group) Company of China, Ltd. (“Ping An Group” or “the group”) (HKEX: 2318; SSE: 601318) was the only financial institution approved to create one of the new national AI open innovation platforms (financial inclusion). On behalf of the group, co-CEO Chen Xinying was present at the conference and received the license from the Ministry of Science and Technology to create the platform. OneConnect, an associate of Ping An Group with rich experience in the financial industry, will be the main participant in the creation and management of the platform, empowering it with technologies.
During the event, OneConnect demonstrated advances in text reading comprehension and intelligent customer service, among other AI technologies. Leveraging a combination of named entity recognition (NER), Sequence Labeling, Transformer and QANet, the text reading comprehension technology identifies and extracts multi-granularity fields from the target text document in order to generate the logical structure of a complex text intelligently. The highly customized text reading comprehension model, which integrates the Chinese-language environment with the legal context, analyzes legal documents accurately and efficiently. People who lack the expertise cannot be expected to understand a legal document consisting of thousands of words in a short time. At the booth, the company demonstrated the text reading comprehension technology’s capability in instantly making a complex document clear and easy-to-understand by scanning and analyzing the key words and word classes within the document based on a given logic. The technology can even handle versions of a document captured as an image using a smartphone.
Intelligent customer service is one of the AI technologies highly relevant to conference attendees. An unavoidable aspect of life today is that one finds oneself obliged to converse with a machine rather than a human being when phoning large organizations. OneConnect also demonstrated multiple round dialogue and semantic comprehension technologies at the booth. The smart machine proved to be perfectly capable of understanding what the attendee was saying as well as to provide written responses and even deliver an analysis of the results based on the corresponding logic. With the emotion recognition technology, an intelligent call-out robot helps reduce the number of complaints processed manually, supplying a solution that enhances business efficiency by perceiving the customer’s change in emotions during the course of the interaction. The service can be applied in several financial service scenarios, including standard responses to clients that are a part of customer service operations, new product recommendations, repayment reminders, customer follow-up calls and surveys. Replacing the majority of customer service actions that are manual in nature with robots helps reduce labor costs and improve the service efficiency of the call center.
OneConnect, using multiple AI technologies including text reading comprehension and intelligent customer service, integrates various financial business scenarios and applies them in businesses such as insurance, customs and investment. The lineup of quick payment, cross-border trade financing and other kinds of smart contracts showcased at the conference drew the attention of many attendees who stopped by and expressed interest through their many questions. Supported by blockchain and AI technologies, the OneConnect smart contract cloud platform is based on the full life cycle management of contracts typically used by financial institutions and provides intelligent solutions culminating in the intelligent management of and application to contracts. At present, more than 20 intelligent tools and services have been developed on the platform, including automatic contract generation, intelligent document analysis, automated backfilling of information on standardized forms, blockchain certificates of deposit, intelligent recognition and identification, intelligent contract execution, creation of company profiles, issuing of risk alerts and public opinion monitoring, to help financial institutions effectively reduce contract risks and costs, while improving transaction and operational efficiency.
In addition to AI, OneConnect also demonstrated a futuristic technology — 3D zero-knowledge verification technology using blockchain. This technology delivers “data availability” on the premise of guaranteeing privacy, solving the privacy challenge faced by a large amount of data involved in AI model training. The technology has massive potential as an application in supply chain finance, trade finance, business investment and other scenarios.
OneConnect, as the unit within Ping An Group responsible for the creation and promotion of the firm’s “finance + technology” approach to many of the solutions being sought in today’s business environment, makes its leading technologies and solutions available to the industry, endowing financial institutions not only with new business capabilities, but also enhanced operation and management competencies, helping the institutions to engage in both internal and external improvements, while promoting their intelligent transformation.
SOURCE OneConnect
Doo Group’s brokerage brand, Doo Financial is thrilled to announce its expansion into Indonesia by acquiring a reputable Indonesian broker to expand the business. This move brings its global investment services to local investors. Backed by the strength of Doo Group’s extensive international presence, cutting-edge technology, and 10 years of expertise, Doo Financial is well positioned to support investors at every level.
As a brand encompassing investment services offered by various legal entities within the Doo Group, Doo Financial provides a comprehensive range of global brokerage services. This wide range of products empowers investors to pursue their financial goals.
With a diversified portfolio, Doo Financial empowers investors to navigate various market conditions effectively, manage risks, and focus on long-term growth. This entry into the Indonesian market reflects Doo Financial’s commitment to supporting investors with flexible, high-quality investment options tailored to today’s dynamic financial landscape.
Supervision by International Regulatory Institutions to Ensure Top-Tier Safety
As a global leading finance group, Doo Group has licensed entities regulated by top regulatory authorities worldwide, ensuring a secure and reliable trading environment.
Our global credentials include licenses from the U.S. Securities and Exchange Commission (US SEC), the Financial Industry Regulatory Authority (US FINRA) in the U.S., the Financial Conduct Authority (UK FCA) in the UK, the Australian Securities and Investments Commission (ASIC), the Hong Kong Securities and Futures Commission (HK SFC), Badan Pengawas Perdagangan Berjangka Komoditi (BAPPEBTI) in Indonesia. These licenses enable us to provide secure and reliable financial services globally.
Dedication to Shape the Industry with Innovative Solutions
Doo Financial’s expansion into Indonesia brings advanced technology and a global perspective to empower local investors. As an international investment firm committed to secure and seamless trading, Doo Financial offers a diverse range of products and services to help diversify portfolios and open up new opportunities.
This growth elevates opportunities for Indonesian investors by offering seamless access to global markets and advanced trading platforms within a secure and regulated environment. It broadens investment choices and enhances the trading experience, aligning it with international standards and empowering local investors with comprehensive tools and resources for success.
Driven by unwavering commitment, this growth marks a significant milestone in Indonesia’s investment landscape, equipping our clients with the tools to navigate global markets. We remain dedicated to delivering exceptional service, exploring new opportunities, and driving future breakthroughs. With continued support from the FinTech community, we are excited to innovate and shape the future of finance.
Stay updated with the latest insights from Doo Financial. Join our community of empowered investors and let us be your trusted partner!
E-mail: [email protected]
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LIMASSOL, Cyprus , Nov. 15, 2024 /PRNewswire/ — Doo Group is proud to announce that Doo Financial, one of its brands, has been awarded a new license by the Cyprus Securities and Exchange Commission (CySEC). This achievement strengthens Doo Group’s commitment to providing a secure and regulated trading environment for its clients globally.
Expanding Regulatory Reach
The addition of the CySEC license highlights Doo Group’s extensive regulatory framework, which already spans across multiple financial jurisdictions, including the United Kingdom, Australia, Hong Kong and Malaysia. This strategic milestone reflects Doo Group’s dedication to ensuring compliance with international regulatory standards and prioritizing client security. As a European Supervisory Authority, CySEC offers a robust regulatory environment and is expected to enhance client confidence. For Doo Group, this new regulatory milestone reinforces its reputation as a trusted, reliable financial services provider.
“Acquiring the new license from CySEC is a significant milestone for Doo Financial, marking a key step in our ongoing growth and strategic expansion. This achievement not only reinforces our commitment to maintaining the highest standards of regulatory excellence but also solidifies our position as a trusted, reliable financial institution within Europe. By aligning with CySEC’s rigorous requirements, we are better positioned to offer enhanced services to our clients, foster greater transparency, and ensure long-term stability in an increasingly complex and dynamic financial landscape.” Costas Kappai, Doo Financial EU
Strengthening Client Confidence
Doo Financial EU, the European branch of Doo Financial, is now positioned to serve clients across Europe under the guidelines of a European Supervisory Authority. European clients will benefit from CySEC’s regulatory protections, including client fund safety and transparent business practices, ensuring a secure and trustworthy trading experience. This development allows Doo Financial EU to offer its suite of financial services and trading products to a wider audience, backed by the credibility and oversight of CySEC.
By expanding its regulatory reach, Doo Group continues to strengthen its position in the global financial market, enabling clients to trade with confidence. The CySEC license is another step toward achieving Doo Group’s vision of becoming a leader in financial services.
About Doo Group
Founded in 2014 and headquartered in Singapore, Doo Group is an international financial services provider with a focus on FinTech. With operations across 10 major business lines—including Brokerage, Wealth Management, Payments, and Digital Marketing—we are dedicated to delivering comprehensive financial solutions that empower our clients to explore a better future.
View original content:https://www.prnewswire.co.uk/news-releases/doo-group-strengthens-global-reach-with-cysec-license-for-doo-financial-302306893.html
DUBAI, UAE, Nov. 15, 2024 /PRNewswire/ — PayerMax, a leading global provider of payment solutions, has been named Best Payments Solutions Provider of 2024 by MEA Finance magazine at an award ceremony hosted on November 12 in Dubai. The award is a testament of PayerMax’s success in providing exceptional financial technology services to clients in the Middle East and Africa, as well as its leadership position in payment solutions.
The annual MEA Finance Industry Awards recognizes the financial institutions, technology solutions providers, fintech companies, service providers and individuals for exceptional achievements, groundbreaking services and inspirational leadership in delivering innovative products and services.
“We’re very honored to receive the award. It not only recognizes the success of our innovative technologies and regional strategies, but also it is the perfect testimonial of how our team thrives to create superior values for our clients, and we look forward to more cooperation with more partners,” said Wang Hu, co-founder of PayerMax. “Looking ahead, PayerMax remains committed to further strengthening our presence and deepening our efforts in the Middle Eastern market. We will continue to empower more businesses and enhance the digital payment ecosystem across regions, driving value and growth for clients around the world.”
In 2024, PayerMax achieved major milestones in the Middle East market. In alignment with Saudi Arabia’s Vision 2030, PayerMax became the first Asian fintech company to establish a regional headquarters in Riyadh and obtained the Payment Technical Service Provider (PTSP) certification from Saudi Payments on behalf of the Saudi Central Bank (SAMA) in September. This certification allows PayerMax to operate seamlessly within Saudi Arabia’s financial ecosystem, providing merchants across the country with secure, flexible, and efficient payment solutions. The company has also formed partnerships with leading banks such as SAB and Emirates NBD, advancing the digital twin ecosystem while supporting financial inclusion, economic diversification, and an enhanced user experience through digital payments in the region. Furthermore, as the first Asian fintech company to secure the UAE’s payment license, PayerMax is strengthening its presence and expanding operations across the Middle East.
Beyond the Middle East, PayerMax’s achievements in 2024 were globally recognized. In May, PayerMax was awarded the 2024 “Best Payments and Collections Solution” award from The Asset in the prestigious “The Asset Triple A Awards.” With an impressive 95% coverage of mainstream payment methods in emerging markets, PayerMax continues to build on its vision of providing innovative payment solutions worldwide.
PayerMax is committed to providing businesses with one-stop local payment solutions to meet their diverse payment needs. Its extensive network supports a wide range of over 600 payment methods, more than 70 transaction currencies, and over 20 local languages, catering to diverse global user payment preferences. With a vision to drive merchant success on a global scale, PayerMax offers an array of value-added services, including risk management, foreign exchange management, payment marketing (webshop), and finance & tax services, constructing a comprehensive environment for merchants to excel in a competitive global marketplace and handle the intricacies of globalization with ease.
Looking ahead, PayerMax is committed to staying at the forefront of the evolving digital payment landscape. The company will continue to invest in technological innovation and service enhancements to deliver increased value and opportunities to its customers. By doing so, PayerMax aims to empower global business expansion and facilitate the transition to a cashless society. For more information, please visit https://www.payermax.com/.
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View original content:https://www.prnewswire.co.uk/news-releases/payermax-recognized-as-best-payment-service-provider-by-mea-finance-302306832.html
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