In conjunction with the leaping growth of financial technology development, digital financial services are also advancing quickly. The Bank of Taiwan has long foreseen that apart from peer competition, the banking industry also faces threat from fintech enterprises. To become a leading bank, the management of the Bank of Taiwan takes charge in leading digital transformation, and seeks to promote reforms from within. The Department of Digital Banking is overseeing the digital financial transformation of the bank, serving as the coordination interface between the business management unit and IT departments of the head office. It works to facilitate digital transformation of different operations and accelerate the incubation of digital talents.

So far, the Bank of Taiwan has held four batches of the Training Course for Digital Transformation Seed Personnel. The bank emphasizes on frontline user experience, seeking to improve services and closing the gap between financial service design and user needs. Therefore, apart from the head office personnel, the bank also enrolls branch employees to attend the course so as to select transformation seed personnel who are equipped with vital qualities such as professional operating competencies, perceptive innovation, and collaborative resilience. The effort is aimed at conceiving innovative services. Joseph Jye-Cherng Lyu, Chairman of the Bank of Taiwan, is keeping an eye on the training of seed personnel of different batches. Lyu often talks with seed personnel, where apart from attending the course himself, he also interacts directly with them, demonstrating his determination in changing corporate culture and employee mindset with real actions. Lyu reiterated, “Seed personnel play a vital role in bridging internal communication, and conveying the vision and implementation of digital transformation.”

The seed personnel of the bank achieved great results in internal and external collaborations recently. For example, using “Financial AI Application” as a theme for digitization, they worked in groups and make new innovative proposals for integrating AI models in co-creation. They focused on credit rating, default risks, negative news and suspicious transactions of money laundering among other aspects, and attempted to optimize operating procedures using human-machine models. All of which were endeavors to strengthen risk prevention mechanism and ensure steady operation of the bank. Meanwhile, as part of the course, experienced cyber security and regulatory experts were invited to discuss in great detail risks and regulatory issues facing the seed personnel in practice. Their insights will enhance the feasibility and comprehensiveness of proposals. This will fortify the development of digital transformation of the bank, as the financial technology application is implemented to optimize user experience.

The Bank of Taiwan will continuously work toward digital transformation, proactively obtaining internal and external resources, adopting new learning methods, and cultivating digital talents to accrue the human resources required for transformation. For its future digital transformation, the bank will continue to uphold its user-centric principle when it advances its corporate operation to create good living for both customers and employees. By deepening its ties with customers, the Bank of Taiwan will work to become the most trusted financial partner, living true to its core value of “Great Deal, Great Life”!