Fubon Financial Holdings has drafted a strategy called the "Innovative Finance" program under "Fubon ESG Visioning Project," which is a strategic blueprint formulated based on the UN's sustainable development goals. The primary goals include ending poverty in all its forms everywhere, to ensure healthy lives and promote well-being for all at all ages, and to make cities and human settlements inclusive, safe, resilient and sustainable. The effort focuses on combining innovative projects involving finance core competencies and customer relationship management. The Company works to make social assets more robust, facilitate health management, and develop innovative digital products and services, while continuing to optimize four operating keys— customer satisfaction, customer relationship management, product and service liabilities, and mobile services. Fubon Financial Holdings strives to achieve corporate sustainable development by offering faster professional services for customers, creating green value in the society, and implementing results in everyday life.
Establishment of Working Teams
The Innovative Finance strategy is a coordinated effort led by the Customer Care and Social Commitment Teams of the ESG Task Force under the Corporate Governance and Sustainability Committee. The teams consist of the Corporate Communications Division of Fubon Financial Holdings and representatives of Fubon subsidiaries. Senior managers of the Corporate Communications Division are assigned as leaders of the teams. Short-, medium- and long-term strategies and action plans regarding SDGs prepared by subsidiaries are coordinated and monitored regularly in order to enhance Fubon's ESG performance. Meanwhile, the short-, medium- and long-term targets are completed at a steady pace, and more and more international standards are being adopted.
Formulating Effective Management Policies
- When developing an innovation project that involves financial core competencies, subsidiaries of Fubon Financial Holdings follow the Fubon Financial Holdings Corporate Social Responsibility Best Practice Principles to build inclusive, accessible products and services and to set measurable targets. Action plans and short-, medium- and long-term goals will be implemented and reviewed to ensure satisfactory performance.
- Fubon Financial Holdings' "Financial Consumer Protection Guidelines" lay the foundation for each subsidiary's fair, reasonable and effective handling of financial consumer complaints and disputes.
- When launching a new business or financial product or conducting important business activities, including co-marketing, outsourcing, and business collaboration, with another Fubon Financial Holdings subsidiary, Fubon Financial Holdings subsidiaries will complete a legitimacy assessment to ensure compliance. The Fair Dealing Policy and the Fair Dealing Strategy have been established in accordance with the Fair Dealing Principles for Financial Institutions released by the Financial Supervisory Commission.
- Fubon Financial Holdings has established the Guidelines for Advertising Planning and Media Buying at the level of financial holding company structure to manage the quality of promotional literatures produced by Fubon Financial Holdings and its subsidiaries and ensure the absence of any inappropriate, untrue, or misleading content or any violation of the regulations or self-regulatory guidelines.
- Fubon Financial Holdings has established the Guidelines for Reporting Co-marketing Customer Complaints at the level of financial holding company to protect consumer rights and state explicitly the resolution process and the responsibilities of each subsidiary regarding customer complaints arising from co-marketing activities in order to ensure customer disputes are resolved in a fair, reasonable and timely manner.
Promoting Strong Management Practices
Programs related to the Innovative Finance strategy are required to be proposed and executed in compliance with applicable policies and regulations. A series of management practices have been implemented to ensure effective implementation of ESG management policies, and they are enforced and reinforced on an ongoing basis.
|Management Practices||Results of Fubon Financial Holdings' ESG Policies in 2016|
|Meeting of ESG Task Force||Development strategies and action plans are coordinated and monitored regularly. Action plans for the current year and the results from the previous year are presented at the beginning of every year. The progress of each plan is updated every 6 months and reported to the Corporate Governance and Sustainability Committee and the board of directors.|
|SQI Evaluation||Since 2015, Fubon Financial Holdings has been collecting service quality indices (SQIs) or service KPIs from subsidiaries every 6 months and reporting them to the senior management team in order to help the team understand and oversee the service quality provided by subsidiaries.|
|Service Excellence Committee (SEC)||
|Service Excellence Network||The Service Excellence Network is designed for internal use and provides a platform on which service innovation projects can be shared by subsidiaries and employees can be recognized for excellent services. This is a place where employees can learn from each other and brainstorm together in order to improve the overall service quality in the organization and to exceed customer expectations and continue to enhance customer satisfaction.|
Disputes involving financial transactions and customer complaints are handled in an appropriate manner in order to protect consumer rights and improve customer satisfaction.
|Financial Consumer Protection Guidelines||Fubon Financial Holdings' "Financial Consumer Protection Guidelines" lay the foundation for each subsidiary's fair, reasonable and effective handling of financial consumer complaints and disputes. The guidelines cover principles to follow when signing a sales contract with a consumer; the importance of understanding the customer; principles for promotional materials; guidelines for product descriptions and disclosure of their potential risk; how to handle consumer disputes; and information maintenance. They also require each subsidiary to create an adequate internal control system to ensure that the rights and interests of consumers are protected.|