Visa Direct – the more secure, convenient and cost-effective way for international remittance With the rise of fintech, banking is no longer confined to a particular place but is something we can do from anywhere. As banking undergoes industry-wide transformation, financial institutions and technology companies are working together to find new solutions that can better…

Banks remain cautious about embracing full-throated digitization. Customers of Taiwan’s domestic banks sometimes feel like they’re in a time warp. Basic savings accounts often are not automatically equipped with online banking – customers have to request that service. And in many cases, the standard means of tracking account activity is a passbook that must be…

Taiwan aims to pursue financial technology innovation, but over-regulation continues to block the needed experimentation and flexibility. Technological advances are increasingly transforming every aspect of financial services, a phenomenon that has given rise to the term “fintech,” short for financial technology. In Taiwan, the Financial Supervisory Commission (FSC) in 2015 established a Fintech Office to…

As global advances in e-commerce and financial technology (“fintech”) catalyze change in insurance markets, how can Taiwan enable insurers to provide individuals and families with the full insurance coverage they need and close the insurance “protection gap”? In the recently published 2017 Taiwan White Paper, the Insurance Committee of the American Chamber of Commerce in…

So far, regulators have been more concerned about the risks of financial innovation than the rewards. Financial industry observers see big potential for Taiwan in the nascent fintech sector, citing the ways in which emerging technologies could help the banking and insurance components of the nation’s financial conglomerates share information safely and efficiently. A special…