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Finance

SoftBank-backed OneConnect expands in Asia despite IPO woes

Ping An fintech arm launches Japan JV to double overseas revenue

TOKYO -- OneConnect Financial Technology, Ping An Insurance's newly listed fintech arm, said it will continue to expand in Asia despite a lukewarm U.S. initial public offering last week.

The company on Thursday officially announced a Japanese joint venture with local financial services conglomerate SBI Holdings, aiming to offer cloud- and AI-based software to regional banks that support operations like marketing and risk management.

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