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OneConnect’s New Win in Promising Indonesian Market Fails to Impress Investors

Technology as-a-service provider’s shares dropped more than 3% on the day it announced a new business contract with PT Bank Mayapada

This article only represents the author's own views.

The misery never seems to end for investors in OneConnect Financial Technology Co. Ltd. (OCFT.US). Its shares keep sagging even when the company signs up a new customer in a high-growth overseas market, leading one to wonder what it would take to lift this freefalling stock.

The technology-as-a-service provider for financial companies said last Friday that it signed a partnership to help Indonesia’s PT Bank Mayapada Internasional Tbk digitalize its customer onboarding process using OneConnect’s identity verification technology.

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