OneConnect Financial Technology, a fintech firm controlled by Chinese insurance group Ping An Insurance, has announced the launch of a joint venture in Japan, in the company's first attempt to tap into a foreign market after launching an initial public offering (IPO) in the U.S. earlier this month. The joint venture, named SBI OneConnect Japan and established with Japanese financial service group SBI Holdings, aims to provide Japanese financial institutions with OneConnect's cloud- and artificial intelligence-driven services to help them navigate the digitization of the banking sector, according to a press release published on the BusinessWire website on Wednesday. Apart from Japan, OneConnect is also cultivating a presence in South Korea, where it has joined with local companies to build a blockchain-based trade finance platform.