Financial Services Ecosystem
Empowering financial services ecosystem with technologies
Ping An’s financial services ecosystem provides diverse financial services including insurance, banking, and investment to facilitate seamless connection and closed-loop transactions in various financial service scenarios. Ping An has built multiple financial innovation platforms including Lufax Holding, OneConnect, and E-wallet to satisfy customers’ comprehensive financial demands, linking assets to funds online through “open platforms + open marketplaces.”
Lufax Holding (NYSE: LU) is China’s leading personal financial services technology platform. Lufax is committed to addressing the increasing demand for loans for small and micro-business owners in China and providing tailored wealth management solutions for China’s fast-growing middle class and affluent population. As of December 31, 2021, the balance of retail credit facilitated was RMB661,029 million and client assets on the wealth management platform amounted to RMB432,656 million.
OneConnect (NYSE: OCFT) is a technology-as-a-service provider for financial institutions. OneConnect provides clients with integrated products, including digital banking, digital insurance, and the Gamma platform, which offers fintech infrastructure services. In 2021, revenue grew 24.8% year-on-year to RMB4,132 million.
E-wallet is a financial innovation platform for services for retail customers and merchants. In 2021, it provided over 360 million retail users with financial and customer services, including wealth management, shopping, payment, and loyalty points. E-wallet also empowered 2.17 million business customers with solutions for payment and customer loyalty management.