The launch of OneCosmo is the result of the joint product offerings of OneConnect and Pismo, having embarked on a strategic partnership earlier in April 2022. Leveraging next-generation technology such as artificial intelligence (AI), machine learning (ML), blockchain, and SaaS, the suite of solutions provided by OneCosmo is geared towards offering a highly scalable and easy to integrate solution for banks and financial institutions to build digital banking capabilities. The solutions offered by OneCosmo span a wide range of services, from digital identity verification and core banking to digital payments, and digital lending. The platform also allows for integration across different third-party service providers using its highly flexible APIs (Application Processing Interfaces) and microservices. Prospective users of OneCosmo will also be able to fully onboard themselves onto its platform within a matter of weeks due to pre-integrated and pre-configured features, while allowing financial institutions the flexibility of customisation to their required specifications. OneCosmo will also enable financial institutions to leverage real-time data streaming, allowing for greater insight into consumer behaviour through data analysis. OneCosmo allows for flexibility in working with legacy technology, offering financial institutions the freedom to customise the solutions suite to cater to their individual needs. To date, Pismo’s technology incorporated in OneCosmo’s solution has been utilised by more than 50 million customers. Commenting on the launch of OneCosmo, Ms Tan Bin Ru, CEO (Southeast Asia), OneConnect Financial Technology said, “OneCosmo represents the fruits of our labour from our strategic partnership with Pismo. Here at OneConnect, driving the digitalisation of financial institutions and banks for a greater level of financial inclusion has been our vision, and OneCosmo allows us to further amplify our vision for more institutions at a larger scale. With the combination of SaaS and TaaS, OneCosmo is an omni-channel platform which enables us to better service financial institutions of all sizes.” Research conducted by Gartner revealed that the cloud services sector was forecasted to grow 18.4 per cent in 2021 to reach a total valuation of $304.9 billion, up from $257.5 billion in 2020. Further research by MarketsandMarkets also indicated that the SaaS market has been growing by 18 per cent yearly. “Pismo’s mission is to help banks and FinTechs deploy the next-gen of innovative products on the cloud for their customers, and we’re excited to extend that mission with this new offering for Asia. The launch of OneCosmo showcases our joint commitment with OneConnect to provide institutions with the tools to perfect their digital strategy for the future of financial services,” said Vishal Dalal, CEO (North America, EMEA, and APAC) at Pismo. OneCosmo is currently available in Southeast Asian countries including Thailand, Malaysia, Indonesia, The Philippines, and Singapore, with a view to extend its offerings to financial institutions within the Middle East.