CHINAInnovationST19
Editorial

CTBC Bank recognised for its digital transformation driven expansion as it wins Best Digital Bank in Taiwan, Best Retail Bank in Taiwan, and Best Retail Bank in Asia Pacific

By The Asian Banker

  • CTBC Bank’s accelerated digital transformation brings operational efficiency and customer satisfaction to the next level 
  • Accelerated digital transformation
  • Reinforced information cybersecurity management
  • Embraced social media to expand financial ecosystems

 

Dubai, March 21st, 2019 - CTBC Bank was awarded Best Digital Bank in Taiwan, Best Retail Bank in Taiwan, and Best Retail Bank in Asia Pacific for 2019 at The Asian Banker International Excellence in Retail Financial Awards 2019. The awards ceremony was held in conjunction withThe Excellence in Retail Financial Services Convention 2019at Conrad Dubai, U.A.E on March 21st2019.

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Standing from left: David Gyori,Member, Excellence in Retail Financial Services Advisory Council; Wilson Chia, Member, Excellence in Retail Financial Services Advisory Council; Representative from CTBC Bank; VarunSabhlok, Member, Excellence in Retail Financial Services Advisory Council

The bank’s accelerated digital transformation brings operational efficiency and customer satisfaction to the next level

CTBC Bank operates the largest private banking franchise in Taiwan with the leading market position in credit card, mortgages, SME and wealth management. It is also actively expanding overseas and operates a comprehensive and profitable overseas network with over 260 service outlets in 14 countries and territories that include separate subsidiaries in Japan, US, Canada, Philippines and Indonesia.

Accelerated digital transformation

The bank accelerated the digital transformation of its services and implemented major digital technology initiatives to bring operational efficiency and customer satisfaction to the next level. It is also developing innovative digital services for unique customer experiences. It strengthened its big data analytics platform and rolled out new data-driven services to better meet customer needs.

It expanded its mobile digital services through its collaboration with social platform LINE to offer social media related financial services. Leveraging advancements in financial technology, the bank launched a new suite of digital financial services ranging from investment and insurance to loans and personal financial management.

In 2018, both assets under management and number of clients of CTBC Bank have increased steadily over the years, the total AUM has surpassed $65 billion, and the volume of credit card have reached 6.9 million. Also, the bank launched a comprehensive customer advisory service called “Family Financial Clinic”, which covers retirement, medical, life insurance, heritage, goal and education fund planning. It built up the system phase- by-phase to approach real-time decision management, which is supported by omni channel integrated technology infrastructure to serve clients with payment ecosystem at everywhere.

Reinforced information cybersecurity management

CTBC Bank started to deploy a new cyber-threat detection mechanism which includes an abnormal user behaviour detection and response system to further reinforce its security management and response capabilities. The bank enhanced its credit risk management revolution and the non-performing loan ratio in retail business reached 0.11%. Additionally, CTBC Bank has continuously taken a “Digital Driven Risk Journey”, which brought into risk management transformation and innovation through AI decision-making engine.

Embraced social media to expand financial ecosystems

CTBC Bank took the lead to issue LINE Pay credit card with LINE Pay in Taiwan. It has been the only bank to do so for the last three years. The bank focuses on building a ubiquitous financial environment to upgrade customer experience. The payment function is meant to strengthen the financial ecosystem. With CTBC Line Pay card, users can collect LINE points. They can spend these LINE points when making purchases via the Line Gift Store, there is even an online-to-offline element where participating stores will accept payment wirelessly via Line Pay.
The LINE Business Connect platform appeals to a wide range of bank and credit card users, especially the tech savvy and frequent travellers. The platform’s ease of access and quick response enhances its ability to resolve urgent financial issues. The daily average usage saw a six-fold increase from 2017 to 2018 as more functions have been launched.

The International Excellence in Retail Financial Services programme is one of the most rigorous, prestigious and transparent awards programme for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the programme was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions.The programmeevaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a rigorous audit-based approach.

About The Asian Banker International

The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

You may visit the Excellence in Retail Financial Services Awards gallery at https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804

For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com

 

 

 



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