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OneConnect Financial Technology cements presence in Malaysia with new entity; Launch graced by MDEC

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OneConnect Financial Technology Co., Ltd. (NYSE: OCFT), the leading technology-as-a-service platform provider and an associate of Ping An Insurance Group, reaffirms its commitment as the trusted tech partner for financial institutions in Malaysia with the launch of its new entity, OneConnect Smart Technology (Malaysia) Sdn Bhd. In line with its Southeast Asia expansion strategy, Malaysia is a key growth engine where OneConnect plans to build a local team that stands ready to serve financial institutions across Malaysia and support its regional projects. The launch was graced by Dato’ Ng Wan Peng, Chief Operating Officer of the Malaysia Digital Economy Corporation (MDEC).

Malaysia’s fintech space is thriving

Bank Negara Malaysia (BNM) has launched several initiatives in a move to embrace financial inclusion and the shift in banking habits towards digital channels. These include the announcement last year that it will issue new digital banking licenses and the publication of an Electronic Know-Your-Customer (eKYC) guideline on 30 June 2020. The move has given a boost to the nation’s banking and fintech players that are ready to accelerate digital transformation and adopt fintech innovations.

“Fintech had garnered lots of attention for its astonishing potential in impacting lives and changing economies. Since it appeared, fintech helped enable ordinary people to access financial products securely and efficiently. At the same time, it also accelerated the economic growths of many countries. In order to enhance the development of the fintech ecosystem for this country, the Malaysia Digital Economy Corporation (MDEC) will continue to engage start-ups, investors and innovators from around the world to yield positive outcomes via its continuous efforts in expanding and innovating the fintech industry. As OneConnect has established a regional presence in Malaysia, it reinforces the fact that Malaysia is an attractive investment destination. In fact, many fintech and data ecosystem players come to Malaysia specifically for its vibrant testbed environment and the multi-cultural background of its talent pool and their digital savviness and language proficiency in technical subjects,” shared Dato’ Ng Wan Peng, Chief Operating Officer, MDEC.

According to the e-Conomy SEA 2020 Report[1], consumers and SMEs have adopted digital financial services like never before. In Malaysia, over the various Movement Control Order periods, many turned to the Internet for solutions to their challenges. A significant number tried new digital services – 36 per cent of all digital service consumers were new – with 92 per cent of these new consumers intending to continue their behaviour post-pandemic. Year-to-date, Malaysia has also seen a 33 per cent monthly active user growth for select mobile banking apps.

The scene is an important preamble to the ongoing digital transformation taking place in the financial landscape and it signifies a positive sign for OneConnect who has market-ready solutions for insurtech and full-stack digital banking technologies including end-to-end frictionless account opening and onboarding, smart lending, and an eKYC solution that recognises MyKad.

Committed to the growth of Malaysia’s financial sector

OneConnect is committed to being the trusted tech enabler in digital transformation for financial institutions.

Backed by Ping An’s 32 years of experience in the financial industry and an extensive track record as the tech enabler, OneConnect is able to bring to Malaysia the breadth and depth of proven solutions, and journey with its clients through their digital transformation roadmap.

Echoing the same, Tan Bin Ru, CEO (Southeast Asia) of OneConnect Financial Technology, said, “Malaysia is of strategic importance to OneConnect. The country is home to five local banks that are 20 of Southeast Asia’s largest banks, enjoying strong regional presence. Bank Negara Malaysia’s decision to open its door to digital banking bodes well for our Southeast Asia expansion strategy. One of our unique value propositions that our clients value much is the breadth and depth of our solutions which becomes a breeze when they can have a single strategic tech partner to integrate a full suite of digital solutions and work alongside their team through phases of their transformation plan. We see a lot of potential in Malaysia and with our new office being set up, we will be able to contribute our deep market knowledge and ready solutions to the local banks and financial institutions in Malaysia.”

She added, “Having served all the major banks and more than half of the insurance companies in China, we have amassed extensive track records in enabling digital transformations for, and accumulated a wealth of bespoke experience in the banking, insurance and ecosystem realms. Since the setting up of our regional headquarters in Singapore in 2018, more than 50 clients across Southeast Asia and other parts of Asia, as well as the UAE and Europe have entrusted us to be their tech expert.”

Serving the needs of leading financial institutions in Malaysia

OneConnect currently serves a global insurance player and three of the top five local banks in Malaysia It has collaborated with RHB Bank and another top five local bank where it collaborated on the development of two firsts-of-its-kind services that were launched in Malaysia recently. It is also collaborating with CIMB Philippines to enhance digital banking technologies in The Philippines.

OneConnect has partnered with RHB Bank to develop an omnichannel platform that fully digitalises the SME loan experience. The omnichannel platform – comprising the RHB Financing (SME) mobile app for customers, a sales app for the bank’s relationship managers and a seamless SME loan management website – utilises OneConnect’s artificial intelligence (AI) and eKYC technologies. Launched in August as Malaysia’s first AI-powered SME financing mobile app, the app automates and simplifies onboarding process where SMEs only need to submit two scanned documents – MyKad and a bank statement – via their mobile phones to apply for loans. The omnichannel platform lets RHB serve SMEs more efficiently by reducing the back-office processes and operating costs. The bank aims to provide RM500 million in financing facilities to support small businesses in the next year.

OneConnect also partnered with another top five local bank to develop a mobile banking app powered by its eKYC solution, making this the first eKYC solution approved by BNM to launch in Malaysia in October. The app is the first in Malaysia launched by a bank to deliver a truly digital onboarding experience without having to visit any physical branch. Customers can open an account and bank safely anytime and anywhere amidst the ongoing pandemic.

Yao Jing, Head of Strategy and Business Development (Singapore and Malaysia), OneConnect Financial Technology, said, “Our deep market knowledge and ready solutions for Malaysia aptly position us to meet the local needs. We are grateful for the trust and confidence that some of the largest financial institutions in Malaysia have given us and we will continue to deepen the relationships with our valued clients. We see ourselves as a strong tech player in this space, and are dedicated to supporting and enabling the digital banking ecosystem here. We will continue to forge collaborations and work closely with financial institutions and other stakeholders, including Bank Negara Malaysia, and nurture the local tech talents as we walk this journey of a transformational landscape together.”

OneConnect plans to hire local talents to grow a product and engineering team who will provide support for clients in Malaysia and have the opportunities to work on its regional projects.

Artificial Intelligence

XtalPi Unveils XtalGazer: A Comprehensive AI-Driven Polymorph Selection Platform

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CAMBRIDGE, Mass., March 28, 2024 /PRNewswire/ — XtalPi Inc., a leading global technology company in integrating artificial intelligence (AI) and robotics to advance the discovery of groundbreaking medicine and innovative materials, announced today the launch of its proprietary comprehensive solid form discovery and selection platform, XtalGazer. This advanced platform aims to significantly improve the polymorph selection process for the pharmaceutical industry by integrating AI- and automation-powered experimental and computational approaches.

XtalGazer provides a total solution for delivering high-quality polymorph screening and selection methods to expedite drug development and mitigate risks. It represents a paradigm shift in solid-state research, moving from the traditional trial-and-error approach to a data-driven, design-led methodology. The platform provides an expansive suite of foundational tools to accelerate polymorph discovery, characterization, and selection process, empowering pharmaceutical companies to conduct thorough research with less active pharmaceutical ingredient (API) in shorter development cycles.
A key component of XtalGazer is XtalCSP, a crystal structure prediction platform to perform global searches of crystal structures for target molecules and the other optional components in the corresponding searching space, offering a deep insight into possible stable forms. Furthermore, crystallization strategy recommendations will provide AI-backed experimental design to help avoid human bias. XtalGazer also utilizes MicroED to rapidly elucidate crystal structures from powder samples, reducing the need for growing single crystals.
XtalPi’s launch of XtalGazer marks another significant step in the company’s ongoing exploration of solid-state research. From crystal structure prediction platforms being one of the first products to launch at XtalPi, to today’s comprehensive polymorph selection platform, XtalPi will keep fulfilling its promise to solving challenging problems in this space. XtalPi will continue to deliver faster, more accurate, and more comprehensive approaches to building an ecosystem for the R&D process in solid-state, pre-formulation and crystallization.
For more information about XtalPi, please visit www.xtalpi.com.
About XtalPi:
XtalPi is an innovative technology company powered by artificial intelligence (AI) and robotics. Founded in 2015 on the MIT campus, XtalPi is dedicated to driving intelligent and digital transformation in the life science and new materials industries. With tightly interwoven quantum physics, AI, cloud computing, and large-scale clusters of robotic workstations, XtalPi offers a range of technology solutions, services, and products to accelerate and empower innovation for biopharmaceutical and new materials companies worldwide.
Media Contact: Vivienne [email protected]
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ICIS and Base Oil News Announce Partnership to Enhance Market Insights

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LONDON, March 28, 2024 /PRNewswire/ — ICIS, a global source of commodity intelligence, is pleased to announce a strategic partnership with Base Oil News, a premier news outlet founded by industry expert Iain Pocock that provides in-depth coverage of the base oils and lubricants market. This collaboration marks a significant milestone in the dissemination and exchange of critical market data and insights.

With more than two decades of journalism experience at Bloomberg, Reuters, and Argus Media, Iain Pocock brings unparalleled expertise to this partnership. His deep understanding of illiquid energy markets makes him a credible and influential figure in the industry. Since November 2023, Iain has been working closely with ICIS to share and exchange valuable data and insights, enhancing the services both platforms offer to the base oils and lubricants market.
Through the collaboration, Iain integrates ICIS’ extensive content and data resources in Base Oil News market coverage. In return, he contributes market insights to ICIS News, including expert and exclusive analysis of supply and demand dynamics, price margins, and other critical market drivers. This exchange ensures that subscribers of both ICIS and Base Oil News have access to the most comprehensive, timely, and accurate market information, empowering them to make informed decisions.
“It’s a very exciting partnership – where we leverage each other’s strengths and provide actionable insights to our customers,” said Iain Pocock, Founder of Base Oil News. “The market is the winner.”
“As ICIS is already the world’s most trusted pricing benchmark for base oils, this collaboration with Iain Pocock and Base Oil News provides an even stronger and deeper service to our customers,” said Stephen Burns, Editorial Director at ICIS. “Iain’s expertise and extensive industry connections are invaluable, and we have established a fruitful partnership that benefits the market at large.”
For the latest insights from Iain Pocock on ICIS News, visit ICIS News.  
About ICIS
ICIS – Independent Commodity Intelligence Services – helps businesses through seamlessly delivering data and analytics, across the chemical, fertilizer and energy markets. A trusted source and benchmark for price information and insight across key commodities markets worldwide. Our independent, transparent market intelligence informs thousands of quality decisions every day, taking the pressure out of negotiations and giving customers space for more innovative thinking, through published datasets including price assessments, price forecasts, supply and demand fundamentals and more.
Over 150 years of shaping the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo and Perth.
ICIS is part of RELX, a FTSE15 company with a market cap of £64bn and an employee base of over 30,000 experts across 40 countries.
About RELX
RELX is a global provider of information and analytics for professional and business customers across industries. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs approximately 30,000 people of whom almost half are in North America. RELX PLC is a London listed holding company which owns 52.9% of RELX Group. RELX NV is an Amsterdam listed holding company which owns 47.1% of RELX Group. The shares are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX and RENX. Total market capitalisation is approximately £64bn | €75bn | $81bn.
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Trianz Welcomes Israel Abraham as Vice President of Services for Extrica.ai – The Data to AI Platform

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SANTA CLARA, Calif., March 28, 2024 /PRNewswire/ — Digital transformation technology & services company Trianz is pleased to announce the appointment of Israel Abraham as Vice President of Extrica Platform Services.

Trianz has embarked on a transformative journey, redefining its value proposition with an ‘IP Led’ model, with a commitment to deliver the fastest time to value, lowest human dependence, and highest ROI. Central to this approach are our hyper-automated platforms, Concierto.Cloud, Extrica.AI, and Pulse, driving industry-leading transformations in cloud, data and analytics, AI, and the digital workplace.
Israel Abraham is a very well-known pioneer and industry leader in AI, data management, and analytics systems, with over three decades of experience. He joins as the services leader for Extrica- the Trianz Data to AI platform, which productizes data, provides data a face and purpose, and accelerates time to insights and AI by 50% or more. In the role of Extrica Services leader, Israel will lead the shaping, visioning, and delivery of Extrica.ai based enterprise wide datamesh, BI, and AI solutions for customers worldwide.
“We are thrilled to welcome Israel Abraham to the Trianz family,” said Sri Manchala, CEO of Trianz and author of Crossing the Digital Faultline. “He is a leader in modernization as well as conceptualization of data platforms anew. Israel’s prior background in the industry with financial services and insurance giants underscores our commitment to securing top-tier talent that brings real-world experiences and needs to our technology platforms. As we continue to broaden our footprint in the digital transformation space, Israel’s visionary leadership and practical experience will serve as the cornerstone in accelerating insights and AI to deliver transformative value to our clients.”
Having played pivotal roles in highly reputed and large organizations such as Liberty Mutual Insurance, MassMutual, Safeco, and CNA Insurance, Israel has garnered recognition as a seasoned leader in big data and AI cloud implementations. His accolades include the prestigious 2014 Ventana Research IT Innovation Award, the 2009 Informatica MDM Innovation Award, and three filed Data Engineering patents in the last four years.
“Trianz has been at the forefront of digital innovation, and Extrica.ai is a paradigm shifting data to AI platform that completely changes how analytics and AI are delivered- much faster, taking business ahead of change. I am excited to scale the adoption of the Extrica platform, which has attracted attention from giants across the industry and hyperscalers,” said Israel Abraham. “I look forward to engaging with customers, bringing my own experiences, and collaborating with the talented team at Trianz to further enhance the capabilities of the Extrica Platform Services to transform data & AI strategies, execution, and outcomes for customers.”
About Trianz
Trianz is a leading-edge technology platforms and services company that accelerates digital transformations at Fortune 100 and emerging companies worldwide in data & analytics, digital experiences, cloud infrastructure, and security. Our ‘IP Led Transformations’ approach, informed by insights from a recent global study spanning 20+ industries and 5000+ companies, addresses challenges posed by the rapid pace of AI-driven transformation, digital talent scarcity, and economic uncertainty. Our IP and platforms, including Concierto, Extrica, and Pulse, revolutionize cloud adoption, data analytics, and AI insights, empowering organizations to navigate the complexities of digital transformation seamlessly.
Founded in California and with an organization of over 2,000 associates across the United States and India, Trianz is a Premier Partner of AWS, consistently rated #1 by clients for value delivery over the past five years. Trianz has been ranked as one of the best Consulting Firms by Forbes and has been certified as a Great Place to Work for three years in a row. To learn more about Trianz, email [email protected] or visit www.trianz.com.
Watch Trianz CEO Sri Manchala’s insightful interview with Bloomberg on Partner | Crossing The Digital Faultline & Leading Towards Transformative Success – YouTube and delve deeper into his book Crossing the Digital Faultline at Crossing the Digital Faultline | Trianz.
Trianz Media [email protected] +1-408-387-5800
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View original content:https://www.prnewswire.co.uk/news-releases/trianz-welcomes-israel-abraham-as-vice-president-of-services-for-extricaai–the-data-to-ai-platform-302102589.html

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