The Bank of Taiwan (BOT) has been working diligently to strengthen its elderly care trust business and adopting a customer-oriented approach to improve its trust services through innovative technology. With BOT’s excellent performance, it has once again been garnered with the Elderly Care Trust Award from the Trust 2.0 “Comprehensive Trust” promotion plan, administered by the Financial Supervisory Commission (FSC). This recognition therefore showcases BOT’s extensive experiences and exceptional capabilities in trust services.

BOT effectively integrates internal resources, and aside from establishing a cross-department Trust 2.0 Promotion Task Force, progressive, full-featured trust services were developed through five key areas — optimization, product upgrades, digital value-adding, professional development, and public advocacy.

In light of the growing momentum of financial technology, BOT has helped the public in using technology to assess potential aging risks and identify gaps in various aspects in order to provide customers with appropriate trust planning. In addition to paying for living and medical expenses, regulatory restrictions have been relaxed to better cover end-of-life expenses and reduce financial burden for family dependents. Moreover, BOT’s online banking can query the details of elderly care trust so that clients have fully clarity over their trust property status, and offers a new dimension of service.

BOT greatly values talent cultivation, evident with regular trust training courses conducted by BOT with hundreds of actively trained dementia support workers. Up to 300 BOT staff members have also earned “Senior Financial Planning Advisors” or “Family Trust Planning Advisors” certification as well. Significant attention is also dedicated to popularizing trust services. At major trade exhibitions, charity events, government agencies, school campuses or even local village offices throughout Taiwan, the BOT Trust Services team can be seen proactively spreading trust knowledge to the public.

Furthermore, BOT pioneered the integration of elderly care trust services with charitable donations through the use of Uniform Invoices. As part of business development, BOT helps social welfare organizations across various industries receive lottery prize funds from invoices. When a major social incident occurs, BOT also fulfills without hesitation our role as a state-owned bank to work with municipal governments on ensuring that public donations are properly allocated to trust mechanisms for the care of vulnerable groups, achieving both social welfare and addressing the needs of underserved communities, thus realizing the value of inclusive finance.

Elderly care trust is not merely a financial product, but the best available tool for safeguarding the quality of life for the elderly, dementia patients, and disabled people in their twilight years. BOT strives to optimize the overall quality of our services with an emphasis on reducing manual processing and increasing business value. By improving the accessibility of our customer services and digital experiences, we will amplify our social influence, enabling trusts to become a key cornerstone of economic support in a super-aged society.