CTBC Bank (中國信託銀行) last week won three awards at the first Harvard Business Review Complex Chinese Edition Digital Transformation Award for its efforts in promoting digital innovation.
At a ceremony on Wednesday, CTBC president James Chen (陳佳文) was awarded the Digital Transformation Leader Award, while CTBC Bank was honored with the Integrated Digital Transformation Pioneer Award in the service sector and the bank’s online loan platform received the Operational Excellence and Transformation Award.
The award organizer praised CTBC for innovating and promoting digital transformation, and its success in connecting diversified consumer ecosystems by modeling various financial scenarios.
Photo courtesy of CTBC Bank
Awarding Chen with the Digital Transformation Leader Award recognizes his role as a key player in the bank’s digital transformation, it said.
To meet customers’ expectations, Chen not only transformed the overall banking service experience, but also integrated the organization to improve efficiency, creating an agile and innovative digital concept and environment, while leading his colleagues to work together, it added.
Chen said banks must always provide services that are readily available.
“From the perspective of customers, providing a good digital financial experience and completely transforming existing businesses is what we must do,” he said.
“In addition, CTBC has a diversified organization, with various units responsible for the front, middle and back offices, where the working habits and personality traits of technology and finance talent are quite different. Therefore, the role of the president is to allow everyone to collaborate smoothly, to provide colleagues of different cultures with the greatest flexibility, and to keep them united to work together toward a common goal,” he added.
The COVID-19 pandemic has accelerated customer demand for digital finance, and CTBC said its vision for digital transformation includes two major goals: digital end-to-end services and banking everywhere.
To achieve the digital end-to-end goal, the bank redefined and redesigned its financial service process, and constructed a smooth, efficient and valuable customer experience based on the perspective of customers.
To reach the goal of banking everywhere, it adopted a cross-industry alliance strategy, providing financial services in daily life, so customers do not need to go to physical branches and can use the bank’s services anytime and anywhere.
CTBC’s online loan platform, which won the Operational Excellence and Transformation Award, is to make customer needs its core focus, and optimize customer service, application review and operation procedures, with the aim of establishing a complete database system and striving to develop more personalized services.
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