Singapore – Global banking software-as-a-service (SaaS) company Pismo has expanded to Southeast Asia with a new office in Singapore. As part of its expansion, the company has also partnered with OneConnect Financial Technology Co. (OneConnect), the technology-as-a-service (TaaS) provider and an associate of Ping An Group, in order to expand its operations in the said region, as well as in the Middle East.
Through this new partnership, OneConnect’s current suite of cutting-edge technological solutions will be complemented with Pismo’s SaaS platform in order to better serve a broader range of financial institutions.
Moreover, the partnership with Pismo will enable OneConnect to offer SaaS-based core banking solutions suitable for smaller banks. This potentially allows for integration within OneConnect’s existing products, such as its anti-fraud engines and mobile banking applications, which previously targeted top incumbent and large banks looking to digitalise.
Vishal Dalal, Pismo’s CEO for North America, Europe, and Asia, shared that SEA and the Middle East are key markets for Pismo, as one of the highest growing economies in the world
“Our vision is to help banks and fintech [platforms] in their journey into BaaS and cloud for core processing. Our presence in Singapore and our partnership with a highly-accomplished institution like OneConnect underlines our deep commitment to this region,” said Dalal.
Meanwhile, Tan Bin Ru, OneConnect’s CEO for SEA, noted that as a financial technology solutions provider, they are constantly looking out for new technologies and ways for them to bring better value to financial institutions.
“With this partnership with Pismo, we are glad to be able to extend our range of services to now include SaaS, which we envision to be more accessible and implementable for mid-to small-sized banks. This is also where we believe we can bring together the best of the East – best-in-class AI innovations and technology – and the West – a flair in product engineering,” she said.