E.SUN Bank was named Best SME Bank in Taiwan at The Asian Banker Taiwan Awards programme. The bank refined processes for smaller enterprises with reduction in credit check and rapid risk screening amid the pandemic. It also upgraded its online banking platform for SMEs, with total number of eBanking user reached 100,000, with self service ratio over 70%. The bank also won Best Big Data/AI/AML Initiative/Application and Best Digital Lending Service in Taiwan. HSBC (Taiwan) was awarded Best Digital Account Opening/Customer Onboarding Initiative/Application in Taiwan. The bank uses digitalised end-to-end operation process to open a bank account, from customer e-signature, KYC/screening upload, to automated data entry. Since its launch, customers from digital account opening increased over 112% with overall online application’s completion rate increased from 40% to 60%. Best Deposit/Savings Product and Best Digital Self-Service Initiative/Application in Taiwan were given to Bank SinoPac due to the bank’s effort to solve customers’ pain points in fund collection and savings. Taipei Fubon was awarded Best Pension/Retirement Income Product in Taiwan. The bank launched a retirement plan platform with most dedicated calculation process and most diversified product offering in the market. Best Wealth Management Bank in Taiwan went to CTBC Bank. The bank also won Best Credit Card Product, Best Blockchain/DLT Initiative/Application, Best Financial Planning Service, Best Productivity, Efficiency and Automation Initiative/Application and Best Payment/Funds Transfer Product in Taiwan.

Before the award ceremony, a dialogue was conducted based on the key trends of the retail finance sector in Taiwan. Yen Y J Yang, SVP – Digital, WPB, HSBC Taiwan said that banks and fintechs are not competitors but partners, although banks should have a clear objective before talking to fintechs with customer centric as the end result. Hsiao C W, VP, Head of Investor Relations, E.SUN Bank emphasised the importance of the application of AI for banks when confronting the changing behaviour of customers. Kevin H W Chang, VP – Business Development, WPB, HSBC Taiwan said that to adapt to the digital era, it is important for existing bank staff to absorb new skills.