The Financial Supervisory Commission (FSC) yesterday said it would review online-only bank proposals using a four-item system in which practicality of the plans would count the most.
“The practicality of applicants business models will account for 40 percent of their scores,” Banking Bureau Deputy Director Sherri Chuang (莊琇媛) said.
The models would be evaluated on their creativity, stability, convenience and safety of client service, she said.
Non-financial enterprises that want to apply for a Web-only banking license must cooperate with financial institutions to do so, so their collaboration would also play a critical part, she said.
Applicants have to provide an estimate of revenue and profit for the first five years of operations, but that “does not mean higher estimated profits would guarantee higher scores,” she said.
Management would account for the second-biggest part of the score, 30 percent, and would have to include risk control systems, including efforts to combat money laundering and information security, the FSC said.
While the online banks would have to meet the same money laundering and illicit transaction rules as conventional banks, applicants would also have to submit exit plans, the FSC said.
The other two items on the scorecard are the applicants’ financial ability, which would count for 10 percent, and the qualifications of it business representatives, 20 percent.
Experts in financial technology, e-commerce or telecom fields might be asked to join the evaluation panels, the FSC said.
Applications for online banks will be accepted from Nov. 15 to Feb. 15 and the winners are to be announced in June, Chuang said.
SEMICONDUCTORS: The German laser and plasma generator company will expand its local services as its specialized offerings support Taiwan’s semiconductor industries Trumpf SE + Co KG, a global leader in supplying laser technology and plasma generators used in chip production, is expanding its investments in Taiwan in an effort to deeply integrate into the global semiconductor supply chain in the pursuit of growth. The company, headquartered in Ditzingen, Germany, has invested significantly in a newly inaugurated regional technical center for plasma generators in Taoyuan, its latest expansion in Taiwan after being engaged in various industries for more than 25 years. The center, the first of its kind Trumpf built outside Germany, aims to serve customers from Taiwan, Japan, Southeast Asia and South Korea,
Gasoline and diesel prices at domestic fuel stations are to fall NT$0.2 per liter this week, down for a second consecutive week, CPC Corp, Taiwan (台灣中油) and Formosa Petrochemical Corp (台塑石化) announced yesterday. Effective today, gasoline prices at CPC and Formosa stations are to drop to NT$26.4, NT$27.9 and NT$29.9 per liter for 92, 95 and 98-octane unleaded gasoline respectively, the companies said in separate statements. The price of premium diesel is to fall to NT$24.8 per liter at CPC stations and NT$24.6 at Formosa pumps, they said. The price adjustments came even as international crude oil prices rose last week, as traders
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電), which supplies advanced chips to Nvidia Corp and Apple Inc, yesterday reported NT$1.046 trillion (US$33.1 billion) in revenue for last quarter, driven by constantly strong demand for artificial intelligence (AI) chips, falling in the upper end of its forecast. Based on TSMC’s financial guidance, revenue would expand about 22 percent sequentially to the range from US$32.2 billion to US$33.4 billion during the final quarter of 2024, it told investors in October last year. Last year in total, revenue jumped 31.61 percent to NT$3.81 trillion, compared with NT$2.89 trillion generated in the year before, according to
PRECEDENTED TIMES: In news that surely does not shock, AI and tech exports drove a banner for exports last year as Taiwan’s economic growth experienced a flood tide Taiwan’s exports delivered a blockbuster finish to last year with last month’s shipments rising at the second-highest pace on record as demand for artificial intelligence (AI) hardware and advanced computing remained strong, the Ministry of Finance said yesterday. Exports surged 43.4 percent from a year earlier to US$62.48 billion last month, extending growth to 26 consecutive months. Imports climbed 14.9 percent to US$43.04 billion, the second-highest monthly level historically, resulting in a trade surplus of US$19.43 billion — more than double that of the year before. Department of Statistics Director-General Beatrice Tsai (蔡美娜) described the performance as “surprisingly outstanding,” forecasting export growth
RSS