CTBC Bank (中國信託商業銀行) president James Chen (陳佳文) on Tuesday took part in a forum hosted by National Chengchi University to discuss the challenges facing Taiwan’s financial industry and its prospects.
Chen said that CTBC would continue to use smart technology to “renew the financial experience,” interconnect the financial ecosystem, and provide its customers with friendly digital financial services anywhere and any time.
As a long-time industry leader in innovative ideas, CTBC Bank has in the past few years made repeated breakthroughs in digital innovation.
Photo courtesy of CTBC Bank
Chen said that the bank has for a long time been committed to innovation in digital finance, and that the COVID-19 pandemic has heralded the arrival of the era of contactless financial service.
The bank has put itself far ahead in digital innovation by thoroughly understanding its customers’ needs, he said.
While visits to CTBC Bank’s branches have declined 12 percent since the beginning of the pandemic, its mobile banking customer base has grown more than 45 percent and its total number of digital members has grown to more than 5.4 million, the bank said.
In addition, the number of online banking transactions by corporate customers has grown 50 percent and mobile banking transactions have grown 10-fold, it added.
CTBC Bank said it is using end-to-end digitization to provide a better digital financial experience.
The bank has re-examined the financial services it provides, revamped the previous bank-based processes, built connections for cross-departmental cooperation and adopted robotic process automation to provide more convenient digital financial services.
CTBC Bank said it has processed 99 percent of government COVID-19 relief loans for workers digitally, with 97 percent of the applications completed automatically through the bank’s smart examination and approval system.
As a result, the bank has processed more than 360,000 relief loan applications annually for two years in a row, which is the highest among Taiwan’s private-sector banks, it said.
In all these ways, CTBC Bank is creating “banking everywhere” financial services, it said.
Chen said that digital finance can only meet customers’ needs if it becomes a part of their lives, so CTBC is using data and artificial intelligence to build a personalized smart financial environment for its customers, and provide them with a better experience.
To extend the reach of these measures, the bank has been working with partners such as Line Pay, CPC Pay and Hotai Pay to build a financial ecosystem that provides the friendliest financial services, it said.
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