Taiwanese banks continue to profit from product innovation
The Asian Banker’s Taiwan Retail Banking Awards Briefing and Dinner 2013 saw bank representatives discuss challenges and growth opportunities faced by banks in the country. July 02, 2013 | Baron LaudermilkThe Asian Banker held the Taiwan Retail Banking Briefing and Awards Dinner at the Westin, Taipei, Taiwan, on June 27th 2013, saw senior retail bankers from leading Taiwanese banks discuss several key issues, including product innovation and measures taken to enhance their respective online banking platforms and wealth management capabilities. Speaking on the global challenges facing the financial services industry in Taiwan, Foo Boon Ping, managing editor of The Asian Banker Journal, said, “Banking in the post global financial crisis world has become more complex and tightly regulated, with much hinging on banks’ IT capabilities. In a maturing economy such as Taiwan, banks are facing tightening margins and diminishing returns and profitability, with fundamental problems in funding structures and cost management. In Taiwan, banks struggle with the scale and size of their businesses, with consolidation hampered by a labor union impasse. To sustain long-term growth, banks are looking beyond their home country. Taiwanese banks have, for the last 10 years, been focusing on supporting the overseas expansion of Taiwanese top-tier companies, at the expense of domestic SMEs.” Former DBS Singapore chairman Phillippe Paillart, delivered an opening keynote speech on innovation and spoke on how senior banking personnel can further drive innovation within their respective organisations. Following Palillart’s keynote, Stephanie Dunn, senior research manager at The Asian Banker, gave a presentation on the Asia Pacific’s retail banking sector growth and, more specifically, The Asian Banker’s research insights into Taiwan’s financial services market. In h... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Mobile Banking, Retail Banking, TaiwanMobile banking,retail,Taiwan, Mobile Banking,Retail Banking,Taiwan, Keywords:Citibank, HSBC, Bank SinoPac, Taishin International Bank, DBS, Philippe Paillart, Spike Wu Citibank, HSBC, Bank SinoPac, Taishin International Bank, DBS, Philippe Paillart, Spike Wu
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