Digital Innovation Strategy
BOT's digital innovation vision is to strengthen the cultivation of digital talent and business exchanges between the head office and branches, accelerate digital thinking and culture throughout the bank, and refocus on user experience to become an outstanding financial enterprise with digital resilience.
Digital Innovation Vision
In response to this change, BOT took the initiative to introduce digital transformation related strategies. Through the four redefinitions of the digital transformation, the company redefined the digital transformation development blueprint for 2023 across three areas: "Optimizing operations", "accelerating decision-making", and "promoting better digital business results". The goal is to "manage digital customer groups" and "optimize operational processes", and continue to promote the digital transformation flagship plan. The BOT Digital Park was established on Minquan West Road as well to integrate business and promote capacity.
| Items | Description |
|---|---|
| Digital Transformation Flagship Program | A digital transformation project aimed at meeting the user experience needs of external users and internal staff for digital finance, and consolidating policies among industry management departments to optimize internal business processes. |
| Branch operations creative competition | Our bank collaborates on creative competitions across four major business categories, including deposits, foreign exchange deposits, credit, and wealth management, to enhance colleagues' understanding of digital governance and to encourage the use of existing digital technology to simplify inherently time-consuming, cumbersome processes and reduce manual workload. |
| Digital transformation seed personnel training program | The head office's business and operational management units, information units, and business units select and recommend digital transformation seed personnel, and the Institute for the Information Industry (III) conducts a series of coaching courses, such as an Innovation Talent Workshop and Solution Prototype Design Empirical Workshop, to cultivate cross-business functional digital talent. |
| Optimization and promotion of digital financial services | A Digital Financial Business Promotion Task Force has been established by business units, with one unit leader (appointed by the deputy business supervision manager), one deputy unit leader, and two digital commissioners (appointed by colleagues from departments such as the Depository and Exchange, Foreign Exchange deposits, and Credit Departments) to encourage the promotion and collaboration of digital finance across departments. |
| Digital Transformation Online Operation Project Plan | In line with BOT's digital transformation policy, each unit of the head office independently plans and implements special projects, including new business areas or services, changes in operating models, inclusion of SOP control points in system control, and information architecture infrastructure engineering, with a user-centered approach and improved operational efficiency to promote the digitalization of operations throughout the bank. |
Digital Development Plan for Operations
The "Digitization of Operations for Head Office Units" proposal is based on the evaluation method of the "Head Office Unit Management Performance Assessment – Digitization of Operations Scoring System", using bonus points to encourage head office units to reflect on how to use digital innovation thinking as a basis of collecting and consolidating industry digital transformation information and user feedback, and then develop forward-looking suggestions that are conducive to optimizing business processes. The proposal has been submitted to the business managing units as a reference for the future development of business processes, and may be developed based on actual needs or as a blueprint for BOT's Information Operations. The development plan is as follows:
| Items | Implementations |
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Completed or partially completed |
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Under development |
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In the process of conducting requirement interviews and confirmations |
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Suspended or incorporated into other plans for joint execution |
Digitally Driven Projects
BOT actively promotes innovation in financial products, services, and business models through its three strategic directions of "Data Science Innovation", "User Experience (UX) Design", and "Fintech Facilitation" to strengthen BOT's innovation and capacity, and maintain its leading position as an outstanding brand in the digital era.
| Strategy | Items |
|---|---|
| Innovation in Data Science | The basic project for establishing BOT's Information Center's "Bank-wide Database" and "Customer Common Basic Database":Enhance the breadth and accuracy of data, enhance the effectiveness of data analysis and application, reduce the workload of core systems, and effectively clean up and standardize customer and related transaction data. |
| Establish a data governance system: Plan to establish a unified data standard for the entire bank, establish a data governance and standardized processing mechanism to ensure data quality, and assist BOT in developing financial technology and digital transformation. | |
| Strengthen data application and optimize system functions:Intelligent mortgage estimation to expand the function of the Lohas fund "Customer Service Dashboard to inherit the notification function" | |
| Develop analytical artificial intelligence and establish a credit card scoring model, real estate appraisal model, waiting time model, and Eagle Eye model: Introduce advanced analysis methods, strengthen AI analysis, use machine learning (ML) algorithms to build AI-related models and systems, and develop BOT's AI services. | |
| Importing Generative AI | |
| Expand the identity verification method when applying MyData autonomously | |
| User Experience Design | Construct a Global Information Network Service Zone: In line with external regulations, policies, and business needs, strengthen BOT's information disclosure and optimize the user experience. |
| Build a new generation official global information website: Based on user experience, design an official website with processes and operating interfaces, introduce innovative thinking and technology to improve existing processes and build a new Chinese and English global information website that conforms to current design trends and digital brands of BOT. | |
| Build a decision-making platform: Introducing diverse strategy implementation methods and optimizing strategies based on business scenarios, establishing various business decision-making processes to achieve automation of manual review and workflow. | |
| Build a Robotic Process Automation (RPA) system: By simulating the operation behavior and steps of a person on a keyboard and mouse through a program, the program can automatically repeat processes, replacing repetitive manual tasks, reducing error rates, and improving work quality and efficiency. | |
| Fintech Facilitation | Open the Phase II "Consumer Information Query" Service of the Bank |
| Apply for fintech patents, strengthening the effectiveness and contribution of patent applications | |
| Handling the procurement case of BOT's "patent application and other services" |
BOT promotes the "Carbon credits passbook" low-carbon consumption model, and participated in the 2022 Presidential Hackathon Awards and was listed in the top 20 with excellent performance. Commonly referred to "carbon credits" mainly refer to the unused carbon emission rights of enterprises or the right to generate carbon sinks (such as afforestation) in a natural way. To avoid confusion among the public, spread awareness of how individuals can assist in the overall net-zero transformation, and encourage the public to participate in the digital transformation alongside banks, the name has been adjusted to the "Net-zero Green Life" as a key strategy promoted by the Ministry of the Environment.
The "Net-zero Green Living" program promoted by BOT encourages the public to choose a lower-carbon lifestyle and rewards them for product use, hoping to guide them to choose green options. Currently, the "Net-zero Green Living" mechanism is directed by the Ministry of Finance, and BOT, the Financial Services Corporation, and various public banks have discussed and reached a consensus to use Taiwan Pay as the main carrier of green marketing activities. Eight public banks are now working together to promote the initiative, and invite all financial institutions that use TWQR (including electronic payment enterprises) to join this major initiative.
BOT has been promoting the "Net-zero Green Living" policy through two main directions in 2023: "Special Store Cooperation" and "Deepening Customer Awareness". BOT and YFY Biotechnology collaborated to organize an event at the end of 2023 to encourage special store cooperation, attracting people to participate through Taiwan Pay discounts involving 1,989 transactions. In terms of deepening customer awareness, activities related to the net-zero transformation have been organized to invite or encourage customers to choose digital financial behaviors (such as electronic billing), reducing carbon emissions from documents printing and transportation. In addition, through combining a sustainable lifestyle and knowledge dissemination with public welfare organizations, BOT holds a guide dog and senior public welfare park tour, and offers a new season of sustainable finance podcast programs to promote a sustainable life to the public and popularize knowledge of sustainable finance. In 2024, BOT will focus on expanding and inviting private banks to participate, and continue to collaborate with green businesses and groups to launch activities and target 65,000 participants.
The 2023 Taipei International Financial Expo was hosted by Business Today Culture Co., Ltd. was held on November 24-26, 2023, at the TWTC Exhibition Hall. BOT places great importance on corporate social responsibility and sustainable development. "Innovative Finance and Sustainable BOT" was its main focus, showcasing the achievements of and determination in active innovation and sustainable development.
The Expo was held over a period of three days, with over 85,000 visitors. Over 130 domestic and foreign financial institutions and 400 booths participated in the event, making it the largest financial event of the year. Vice President Lai Ching-te and Vice President Chan-Moon Chung of the Executive Yuan attended the opening ceremony and visited the venue. The first stop on the visit was BOT's Exhibition Hall, where the chairman led our colleagues to personally receive them and introduce the development history of student loans from networking and activism to artificial intelligence (AI). This made it easier, more convenient, and time-saving for students, parents, and staff, and was highly praised by the Vice President and Vice President of Executive Yuan, receiving recognition from visiting guests and great praise from the media.
The exhibition hall presents restored images of historical buildings, evoking people's memories, inheriting precious culture, and using "trust" to continue love and practice the spirit of friendly finance. Our bank has taken the lead in metaverse initiatives, launching augmented reality (AR) immersive experience appreciation for precious metals, and seeking the best customer service solutions through generative AI. We have also constructed an intelligent wealth management tailored investment portfolio, and launched a new action banking app, creating a faster and safer financial transaction landscape. BOT focuses on innovation and has launched a new season of podcasts, "BOT Talk Show", detailing the innovative thinking and sustainable value of BOT's innovative finance and sustainability. The podcast recording scene was brought to the venue, and multiple lectures were held during the event to interact with the public. The lectures were very well received, and the public responded warmly giving many positive reviews. BOT also publicly launched mascots named "BUBI" and "Whale" with their logo coins, which are also popular among people of all ages who showed up to take their photos with the mascots.
Podcasts are online audio streaming programs that, combined with mobile communication technology, provide the public with the ability to freely choose to listen to the audio programs they are interested in anytime and anywhere with a web browser or mobile application. Unlike traditional radio programs that have listening time limitations, podcasts are an emerging technology that utilizes "sound" to better convey emotions and warmth compared to "texts and images", which may be considered cold.
In response to the Trust 2.0 program of the FSC and to promote trust services that meet the needs of various people at different stages of life, innovative voice media are used to communicate with the public. In October 2022, the first podcast covering trust services was produced, with a total of seven episodes of "BOT Talk Show" comprising the first season published, establishing a professional image of BOT's trusts, bridging the gap between the bank and its customers, and providing information about trusts. Within a month of launch, it jumped into the top 20 commercial achievements and was downloaded and listened to 71,000 times.
To enhance the public's awareness of green finance and innovative technology, season two comprising 10 episodes was produced in 2023, focusing on innovative finance and a sustainable BOT. Including the first season, it has accumulated nearly 100,000 downloads and views. The program invites experts to explore the world of sustainable finance from different perspectives and share stories, bridging the gap between BOT and the public, and strengthening the connection between the public and the brand.
