Mubasher: Chinese technology company OneConnect has announced in Tokyo the inauguration of SBI OneConnect Japan, a joint venture with Japanese financial service group SBI Holdings, according to a press release published on Wednesday.

The new JV will provide cutting-edge cloud-based and AI technological services to regional banks in Japan to support their digitalisation endeavours.

"OneConnect has proven its influence on the Chinese market. We help banks to improve their income, efficiency and quality of services, and reduce their risks and costs, we can help Japanese financial institutions to achieve the same goal,” OneConnect’s chairman and CEO Ye Wangchun said.

The opening of the JV in Japan is OneConnect’s first shot overseas market after listing on the New York Stock Exchange.

"In overseas markets, the main service targets of OneConnect are mainstream local banks and insurance companies. For example, in Europe, OneConnect signed a cooperation agreement with fintech ecosystem software provider Finleap to provide European market Fintech SaaS,” Wangchun added