Digital Innovations

FinTech

Fubon Financial Holdings has been active in the fintech field, developing blockchain, big data and artificial intelligence (AI) technologies. It is also committed to creating a new fintech ecosystem by integrating resources from within and outside the Group and setting up cross-sector partnerships. Through these efforts, Fubon hopes to bring finance closer to daily life and promote more inclusive and customized services to deliver the best possible service to customers.

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Initiatives Business Units 2019 Action Plans Results
Exploring New Fintech-enabled Financial Services
Developing Blockchain Technology. FinTech Office Invest in blockchain’s underlying technology.
  • Studied the feasibility of applying blockchain technology to insurance claims and other financial services.
Taipei Fubon Bank Invest in blockchain technology.
  • Was recognized by International Business Magazine for “Best Blockchain Payments Application” in Taiwan.
Mobile payment service Taipei Fubon Bank Get consumers to experience the convenience of contactless mobile payment services.
  • LuckyPAY bound to 61,000 Taipei Fubon Bank accounts / credit cards by the end of 2019.
  • Over NT$2.7 billion worth of red envelopes have been successfully sent and received.
  • Honored by Global Business Outlook for “Most Innovative Payment Solution” and by the Asian Banker for “Best Payment Merchant Services” in Taiwan.
Expanding the Scope of Cross Border Payment Services Taipei Fubon Bank Integrate WeChat Pay into the Taipei City governments ’ smart payments QR Code.
  • Cross-border payment transactions amounted to about NT$156 million.
Speedy claims notification for flight delay insurance Fubon Insurance The system automatically scans the flight data of each airline and proactively notifies policyholders to file a quick claims application for a standard travel insurance benefit.
  • In 2019, 6,722 claims notifications were sent out.
Smart Digital Customer Services "Fubon Bro" Fubon Insurance Use natural language understanding (NLU) to quickly find corresponding solutions according to customers' needs and quickly resolve frequently asked questions without being limited by the number of customers who make inquiries.
  • Went online in April 2019.
Smart Digital Customer Services Fubon Securities Draw on a robust knowledge bank to interact with customers and answer their questions, and complement human customer service support by filtering out frequently asked questions. The service offers assistance to customers around the clock, yearround.
  • Went online in September 2019.
Investing in Big Data
Developing Big Data Projects and Applications FinTech Office Mobilize digital resources to develop AI applications and build a Group-wide data analysis applications platform.
  • Platform went online in December 2019.
Fubon Life
  • Use digital tools to detect word-of-mouth influence.
  • Leverage big data analysis to identify optimal sales times.
  • Used buzz (word of mouth) marketing to market products and increase exposure.
  • Conversion rate increased by 2-15 times.
Fubon Securities Have Robo-Guardians 2.0 investment platform provide financial advisory services through online interaction.
  • Provided automated investment services for regular savings plan ETFs.
Developing IoV Services Fubon Insurance Invest in designing a collision sensor and app for road rescue services.
  • Will have distributed 5,000 sensors to policyholders by the end of 2020.
A Growing Intellectual Property Portfolio
Filing Fintech Patent Applications Fubon Financial Holdings, Fubon Life, Taipei Fubon Bank, Fubon Insurance and Fubon Securities. Continue to encourage innovative services and patent applications through various departments.
  • Was granted 19 patents in 2019.
  • Cumulative number of patents received by the end of 2019: 49.

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Mobile Service

Fubon Financial Holdings follows closely the impact of a changing society as well as responds to the impacts on environmental ecology brought forth by global climate change. The goal is to provide faster services through better products and innovations and create green value for society while pursuing profit for the company.

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Initiatives 2019 Action Plans Results
Fubon Life E-Service that Covers the Entire Life Cycle of Insurance. Optimize Office 365 Cloud Based Mobile Services.
  • The data stored on the cloud drive grew from 10.1TB at the beginning of the initiative in 2016 to 54.9TB by the end of 2019.
Promote offline product promotions online.
  • “Make a Date with Your Soulmate” promotion got 607 people to register to learn more about “Peace of Mind” (MGD2) insurance, beating the target of 600.
Create a more user-friendly environment for getting. insurance online.
  • An average of 7,400 people registered online every month to become a member of the online insurance website; overall satisfaction with online insurance services was 9.14 (out of 10).
Provide sales agents with an “insurance health check” system.
  • From August 2019 when the service was launched to December 2019, the system generated 76,059 insurance health check reports for customers.
Add New Mobile Payment Channels.
  • Convenience store mobile barcode payments of insurance premiums: 12,814 transactions totaling NT$191,712,754; Self-payments: 1,571,069 transactions totaling NT$27,068,887,656.
  • A total of 3,309 payments were made through "Apple Pay", "credit card online payments," or "non-predesignated demand deposit accounts," totaling NT$91,833,827.
Promote Claims Easy Pay.
  • The number of cases submitted to "claims easy pay" accounted for 29.2% of eligible cases.
Encourage customers at branch counters to apply to become online transaction members, and promote the "online trading" service in the "Policyholder Section" of the website.
  • In 2019, the number of online transaction platform member policyholders increased by 13,506 through promotion at the counter and online application, increased by 7.9%.
Make it possible for policyholders to use biometric features to quickly log into the Mobile e-Convenience app to check policy-related information.
  • After the function was launched in November 2019, more than 80% of policyholders who set the quick login function opted to use the biometrics feature.
Taipei Fubon Bank Building a Digital Platform Create Multiple Service Channels and Friendly Service
Give each next generation branch a digital service area equipped with tablet PCs and smartphones that allow customers to experience the convenience of digital financial services.
  • By the end of December 2019, 113 of Taipei Fubon Bank’s branches had been transformed into next generation branches (89% coverage rate).
Open self-service banking centers, and install accessible ATMs and talking ATMs for the visually impaired.
  • By the end of 2019, a total of 542 accessible ATMs and a total of 20 talking ATMs for the visually impaired had been installed.
Internet banking and Internet banking ATM for the visually impaired.
Internet mobile banking and for the visually impaired.
  • A total of 10,426 inquiries and transactions were made as of the end of 2019.
All-in-one English Internet banking site.
  • The company built an all-in-one English Internet banking website, which supported 85% of Internet banking services provided by the Chinese version.
Official LINE Account. -
LINE deposit/remittance services. LINE deposit/remittance services: Services including online account opening, account balance checks, exchange rate checks, purchase and sale of foreign exchange, and exchange rate notifications were used nearly 25,000 times in 2019.
LINE credit card services. LINE credit card services: Services such as online card applications, card activation, account-binding to LINE PAY, checks for promotional coupons, automatic credit line adjustments, and credit card applications were used nearly 165,000 times in 2019.
Continue to Increase the proportion of e-transactions and the number of digital platform active users.
  • In 2019, 89.2% of services that could be done both online and offline were done on the digital platform. The number of digital platform active users increased by 28.1%.
Continue to optimize the FBO customer experience.
  • The number of Fubon Business Online ("FBO") customers exceeded 15,000, while the counter-replacement rate for wire transfers reached 90%.
Continue to expand the M+ "Lucky Red Envelope Family".
  • M+ Lucky Red Envelop bound to 126,000 Taipei Fubon Bank accounts by the end of 2019. Overall number of transactions exceeded 4.38 million, with total value of transactions exceeding NT$2.7 billion.
Add LuckyPAY barcode or QR code payment functions.
  • Reached a cumulative 61,000 bound accounts; overall number of transactions hit 170,000, with total transaction value exceeding NT$18 million.
Fubon Insurance Mobile Claim Service
  • Intelligent Motor Claim System.
  • AI smart claims approval system.
  • Payout cases were 213,333.
  • Over 60% of cases eligible for automatic claims payout had payments completed within 3 days.
Fubon securities Create a "one cloud to multi-screens" electronic trading environment Strengthen the diversity and convenience of the online account opening service and mobile platform.
  • More than 29,000 online applications received to open new accounts from launch of the function to the end of 2019.
Optimized the Mobile Trading Platform.
  • In 2019, mobile orders rose 20% from a year earlier to account for 47.35% of all electronic trades.

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"Green Values" in Financial Services

Fubon Financial Holdings will continue to promote various programs aimed at conserving energy and reducing carbon emissions, including replacing lighting in office buildings with energy-saving LED bulbs. We will also continue to promote e-billing, green purchasing, and reduce the use of PET water bottles to alleviate Fubon’s impact on the environment and create services rooted in green values.

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Initiatives 2019 Action Plans Results
Fubon Life: Promote e-policies Add a new e-policy login and sign-up channel on the website’s “e-Policy Section” in 2019; simplify downloads and the policysigning process.
  • Total number of insurance applications: 122,532 In 2019, e-policy applications saved about 1,818,724 sheets of paper resulting in a reduction of about 39,356 kg in carbon emissions.
Fubon Life: Promote e-Notifications Optimize website sign-up process to have all policy-related notifications be done electronically; allow policyholders to sign up online using only a mobile phone number. In 2019, 6.5 percent of policyholders who made the change to e-notifications did so online, up from 4.0% in 2018.
  • Continue to offer incentives to employees for promoting e-notifications and to policyholders for signing up for e-notifications.
  • Continue to encourage sales channels to get customers to apply for e-notifications when they take out a new insurance policy.
Comparison of effectiveness of promoting e-notification applications.
Year 2018 2019
Goal for Number of Insurance Applicants to Sign Up for e-notifications 160,000 180,000
Actual Number of Insurance Applicants who Signed Up for e-notifications 245,579 214,803
Actual Number of Applicants at Branch Locations who Signed Up for e-notifications 30,769 24,246
% of applications for e-notifications submitted with new policies 61.3% 74.1%
Achievement Rate Target 153.49% 119.34%
We helped save about 1,611,023 sheets of paper in 2019 by having policyholders opt for e-notifications, resulting in a reduction of about 34,861 kg in carbon emissions.
Fubon Life: Continue to promote Paperless services at Fubon Life by sending e-statements to existing mortgage customers In 2015, Fubon Life began streamlining monthly bills sent to existing mortgage customers and also offered e-billing services in order to reduce the company's usage of paper.
  • At the end of December 2019, paperless e-statements accounted for 70.2% of all statements issued to borrowers, an increase of 7.4% over 2018.
Taipei Fubon Bank: Continue to promote digital platform services Promoted the online/mobile insurance platform and online financial instrument application platform.
  • Sent out a total of 22.15 million e-bills, reducing 354,490 kg of paper usage and 1,503,038 kg of carbon emissions.
Fubon Insurance: Increase the Proportion of e-transactions Continued to promote the use of e-policies and compulsory liability insurance to reduce consumption of paper and printer ink.
  • Issued more than 4,610,000 e-policies and compulsory liability insurance, reducing 448,562 kg of carbon emissions.
Fubon Securities: Promote paperless services Dedicated to promote e-billing services, Providing customers with paperless mobile value-added financial services.
  • In 2019, a total of nearly 360,000 customers subscribed to e-billing services, an increase of 16% over 2018, resulting in an annual reduction of approximately 131,144 kg of paper usage and 556,049 kg of carbon emissions.
Actively promote insurance e-passbooks.
  • As of end of 2019, a total of 105,203 policyholders had successfully applied for e-passbooks.
Beyond promoting the opening of accounts online, also get branches to use tablets to open accounts to save paper and meet green finance goals.
  • The push to use tablets at branches to open accounts began in April 2019; as of the end of 2019, 80% of accounts opened at branches were on tablets, up from 22% initially, meaning that only 20% of people who opened accounts were still using paper forms.

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