Singapore-based DBS Bank Ltd (星展銀行) has opened its third financial technology (fintech) research and development (R&D) center in the world in Taiwan, company executives announced at a news conference yesterday.
DBS Bank Taiwan (星展台灣) general manager Lim Him-chuan (林鑫川) said that the COVID-19 pandemic has increased demand for digital financial services, and the bank decided to set up an R&D center in Taiwan to build a lead over its local rivals in fintech development.
DBS wants to take advantage of Taiwan’s large pool of technology professionals to integrate its financial resources and provide fast and comprehensive services to its clients, Lim said.
Photo: Lee Chin-hui, Taipei Times
The bank’s first fintech R&D center was set up in Singapore, where it is headquartered, and the second was established in India because of that country’s big pool of tech experts, DBS Taiwan technology head Rock Tsai (蔡祈岩) said.
DBS chose Taiwan for its third center because it has done well in dealing with the pandemic and, more importantly, it is a high-tech manufacturing base for many global brands, Tsai said.
The new center aims to recruit at least 30 information technology experts in Taiwan by the end of the second quarter, the bank said.
The bank’s recruitment drive will focus on giving students greater exposure to the fintech field, as most information technology and information engineering graduates in Taiwan have their sights set on careers in science parks and semiconductor companies, Tsai said.
If Taiwan hopes to become an international financial hub, it has to cultivate experts in this field, he said.
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