CTBC Financial Holding Co (中信金控) last year clinched 304 awards in domestic and global rankings for finance groups, with subsidiary CTBC Bank (中國信託銀行) netting five “Best Bank in Taiwan” awards from renowned international media outlets: The Banker, Global Finance, Asiamoney, FinanceAsia and Euromoney.
The financial conglomerate was also the only Taiwanese financial institution to receive the “2023 Global Finance Best Consumer Digital Bank” award, securing its leadership in the nation’s banking sector.
CTBC Bank’s performance over the past year continued a tradition of excellence in anti-fraud technology, innovation and finance sustainability.
Photo courtesy of CTBC Bank Co
In collaboration with the National Police Agency, the bank installed the CTBC Smart Anti-Fraud Mule Alert System in 7,000 ATMs nationwide.
The system automatically detects and alerts the police to accounts that engage in suspicious transactions.
Additionally, the bank rolled out the “CTBC Aegis Robot,” a real-time fraud detection system that can perform 10,000 parameter and model computations within 30 milliseconds of a cardholder’s transaction, leading to the interception of NT$1 billion (US$32.23 million) of fraudulent transactions.
These accomplishments led to international accolades including the award for “Best Information Security and Fraud Management in Asia Pacific” from Global Finance.
As part of its digital innovation strategy, the bank last year released the CTBC Bank Payment Facilitating App across iOS and Android operating systems, enabling clients to use cellphones to receive credit card payments. The technology allows small merchants to overcome acquirer limits, while easing the franchising operations of larger businesses.
For this achievement, CTBC Bank won the “Gartner Eye on Innovation Award” for financial services for the Asia-Pacific.
In partnership with JGB Smart Property Co (金箍棒智慧物管), Taiwan’s only cross-country property technology innovation company, the bank additionally created a package of proptech financial services that won recognition from the International Data Corp (IDC) as the” Most Innovative Bank in Asia” last year.
Separately, CTBC Financial Holding’s subsidiary Taiwan Life Insurance Co (台灣人壽) garnered 56 digital innovation prizes including the IDC award for “Asia’s Most Resilient Insurer,” which was awarded for the creation of an artificial intelligence insurance coverage platform that streamlined the insurance claim process.
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