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.
MULTIFACETED: A task force has analyzed possible scenarios and created responses to assist domestic industries in dealing with US tariffs, the economics minister said The Executive Yuan is tomorrow to announce countermeasures to US President Donald Trump’s planned reciprocal tariffs, although the details of the plan would not be made public until Monday next week, Minister of Economic Affairs J.W. Kuo (郭智輝) said yesterday. The Cabinet established an economic and trade task force in November last year to deal with US trade and tariff related issues, Kuo told reporters outside the legislature in Taipei. The task force has been analyzing and evaluating all kinds of scenarios to identify suitable responses and determine how best to assist domestic industries in managing the effects of Trump’s tariffs, he
TIGHT-LIPPED: UMC said it had no merger plans at the moment, after Nikkei Asia reported that the firm and GlobalFoundries were considering restarting merger talks United Microelectronics Corp (UMC, 聯電), the world’s No. 4 contract chipmaker, yesterday launched a new US$5 billion 12-inch chip factory in Singapore as part of its latest effort to diversify its manufacturing footprint amid growing geopolitical risks. The new factory, adjacent to UMC’s existing Singapore fab in the Pasir Res Wafer Fab Park, is scheduled to enter volume production next year, utilizing mature 22-nanometer and 28-nanometer process technologies, UMC said in a statement. The company plans to invest US$5 billion during the first phase of the new fab, which would have an installed capacity of 30,000 12-inch wafers per month, it said. The
Taiwan’s official purchasing managers’ index (PMI) last month rose 0.2 percentage points to 54.2, in a second consecutive month of expansion, thanks to front-loading demand intended to avoid potential US tariff hikes, the Chung-Hua Institution for Economic Research (CIER, 中華經濟研究院) said yesterday. While short-term demand appeared robust, uncertainties rose due to US President Donald Trump’s unpredictable trade policy, CIER president Lien Hsien-ming (連賢明) told a news conference in Taipei. Taiwan’s economy this year would be characterized by high-level fluctuations and the volatility would be wilder than most expect, Lien said Demand for electronics, particularly semiconductors, continues to benefit from US technology giants’ effort
‘SWASTICAR’: Tesla CEO Elon Musk’s close association with Donald Trump has prompted opponents to brand him a ‘Nazi’ and resulted in a dramatic drop in sales Demonstrators descended on Tesla Inc dealerships across the US, and in Europe and Canada on Saturday to protest company chief Elon Musk, who has amassed extraordinary power as a top adviser to US President Donald Trump. Waving signs with messages such as “Musk is stealing our money” and “Reclaim our country,” the protests largely took place peacefully following fiery episodes of vandalism on Tesla vehicles, dealerships and other facilities in recent weeks that US officials have denounced as terrorism. Hundreds rallied on Saturday outside the Tesla dealership in Manhattan. Some blasted Musk, the world’s richest man, while others demanded the shuttering of his