SHANGHAI, Feb. 27, 2019 /PRNewswire/ -- Ping An OneConnect was this month recognised as China's FinTech Start-up of the Year in the Asset magazine's 2018 Triple A Digital Awards. The company's artificial intelligence research institute, Gamma Lab, was also named Digital Team of the Year.
The Asset received 185 award submissions from 12 Asian countries, which were assessed by its editors to find the companies in the region that are undertaking the most innovative and creative projects. The awards are among Asia's most influential and authoritative accolades and other winners this year include some of the world's largest financial institutions - such as Citi and Bank of Communications.
"We are honoured to receive these awards from the Asset," said Hannah Qiu, Founder of Gamma Lab, who is also Co-General Manager of OneConnect. "We have already developed a comprehensive portfolio of FinTech solutions to serve the digital needs of financial institutions. The recognition of these awards will encourage us to push even harder to continue our innovative work."
Ping An OneConnect is Ping An Group's FinTech subsidiary that brings high-end technological solutions to financial institutions. In the last three years, the company has already developed a FinTech platform that covers the entirety of the financial industry's needs. It is a one-stop shop that delivers solutions in the four most important cutting-edge technologies - artificial intelligence, blockchain, cloud computing, and big data. These are used to make real-world solutions to the problems facing financial institutions - in areas as diverse as risk management, product development and customer service.
At the end of 2018, OneConnect has already served more than 3,300 financial institutions - including 483 banks, 42 insurers, and nearly 2,500 non-bank financial institutions with advanced FinTech solutions.
OneConnect has already started its international expansion, with recent developments in Hong Kong and Southeast Asia. The company developed a blockchain-powered trade finance platform for the Hong Kong Monetary Authority, which went online in September 2018. It has also recently opened offices in Indonesia and Singapore. It is at the forefront of technological innovation, as it is a world leader in patent applications in AI, blockchain, cloud computing and big data, having applied for 1,465 patents.
Gamma Lab is OneConnect's artificial intelligence research institute with more than 350 specialists who have applied for 632 patents. Its goal is to develop technological solutions that can be used to remove the pain points faced by financial institutions.
In addition to the recent Asset awards, Gamma Lab has been recognised as at the forefront of AI technology. Its micro expression solution for example, is the world's most accurate, according to the One-Minute Gradual-Emotion Challenge, as well scoring the highest in the 2018 EmotioNet challenge, with a 96% accuracy rate. The institute's natural language processing technology is also the best in world, taking the top position in the worldwide SQuAD2.0 machine reading competition, with levels approaching that of a human being.
The Asset is one of Asia's leading financial publications. Ever since it was established in 1999, the magazine has followed market developments in the region. It has presented Triple A awards for nearly 20 years, which are among the region's most prestigious awards. They are awarded to Asia's most successful and dynamic banks, institutional investors, and other financial institutions.
