OneConnect Financial Technology Co. Ltd. (OneConnect), an associate company of China’s insurance giant Ping An Group, announced last week the launch of its Data Governance Solution in China.
OneConnect reported that its solution can support smart management for all scenarios and a large amount of data. It is more flexible and convenient in software and hardware expansion and iterative upgrade. The deployment time is shortened by 1-2 months compared with traditional products. While sharing more details about the solution, Hannah Qiu, Co-General Manager of OneConnect, stated:
“Our end-to-end data governance solution is based on big data technology, which is essentially different from solutions for traditional databases. The complete digital banking management system should cover three layers. The first is the basic data layer, the second is the business application layer, and the third is the management layer. Only the three-tiered system is intelligent and digital that the bank can build a complete digital banking management system. Among these three layers, the construction of the basic data layer is the basis of business application and business management.”
OneConnect went on to add that the solution helps small and medium-sized banks realize their goal – “data drives business, data drives decision-making.”