We must respond to environmental and social issues in the most creative ways under the threat of extreme global risks, such as extreme weather events and cyberattacks. Technology has changed the face of finance, and the digital era has revolutionized our lifestyles. Financial institutions need to find ways to help customers during important times in their daily life, and also use data to create an enjoyable customer experience.
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Cathay FHC makes data-driven decisions and fully grasps FinTech development trends
Cathay FHC has innovated its business model through the strategy of "simultaneously developing multiple channels, moving steadily forward, integrating group resources, and continuing to improve the big data ecosystem," and continues to explore the unlimited possibilities of financial services. Besides providing customers with a convenient financial experience through comprehensive mobile services, Cathay FHC's Digital, Data & Technology Center (DDT) has extended its reach into all parts of Southeast Asia in the two years since it was established, and is actively increasing the accessibility of financial services. DDT horizontally integrates the group's digital developments. Cathay FHC aims to build meaningful connections with customers utilizing its information integration abilities and data analysis and development, thus becoming the best financial navigator for customers.
Cathay FHC is moreover committed to providing friendlier financial scenarios and services, and will continue to offer personalized financial services by engaging in customer digital activity analysis, digital procedure optimization, and digital channel development. It is our mission to actively learn what customers need and use data to drive our decisions.
Cathay Robo improves the customer experience
Cathay FHC endeavors to provide customers with a variety of low cost financial solutions through the use of FinTech and has for this reason launched the smart investment platform, which encourages long-term investment and aims to help customers achieve their investment goals. The platform helps investors make disciplined, rational, and fixed investments rather than reacting to market fluctuations.
Cathay FHC integrated the group's resources worldwide, including the wealth of professional investment experience possessed by CUB's investment research team, product team, Cathay SITE and Conning Holdings Corporation and the artificial intelligence algorithms developed by Hong Kong startup Quantifeed, in creating a world class research team. Cathay FHC aims to use the most rigorous algorithms and its world class investment services to help all customers progress steadily toward achieving their financial management goals at each stage of life.
brings to you a smarter way to manage your life.
Cathay Robo developed by Cathay FHC's professional team helps customers achieve sound financial management.
The most heartwarming digital financial service--CUBC Payroll 1.0 salary transfer
A study by the Asian Development Bank (ADB) pointed out that the demand for payments and transfers in 2017 in Cambodia was estimated at US$8.3 billion, but transactions through formal financial channels was only US$3.3 billion, a significant gap of US$5.4 billion. Payment service, the basic function related to all transactions, is the most important service linked to Cambodian’s daily lives. CUBC decided to work with major local payment providers and became the first bank in Cambodia to work with payment service providers in providing salary transfer services. CUBC is connected to the payrolls of factories, and helps factory workers collect their salaries from the offline payment agents CUBC works with as part of its cash flow services. Local workers can collect their salaries from any offline agent that provides the service, which is not only convenient, but also prevents the risk of being robbed when carrying large amounts of cash on payday. Factories can save the trouble of issuing large amounts of cash each month, and also avoid the risk of miscalculating salaries.
The number of CUBC's locations expanded from 16 branches and 80 ATMs to about 3,500 offline agents through the collaboration with major local payment providers. This collaboration has created an affordable connection between local people and financial institutions and achieved inclusive finance. In the future, CUBC will continue to work with payment service providers in providing local residents with the opportunity to access an even greater variety of financial services.
Cathay Life builds the industry’s leading brand in mobile services
Cathay Life actively predicts the needs of customers in different life stages. In 2017, Cathay Life won both the Best Insurer: Technology Award and the Asia Insurance Industry Awards (AIIA) - Best Digital Insurance Company, again bringing honor to our nation by being the only Taiwanese insurance company to win these awards. Cathay Life formed a financial insurance patent team and became the first insurance company in Taiwan to obtain a mobile insurance invention patent in 2014. Cathay Life obtained 43 insurance technology patents by the end of 2017, and led the industry by offering numerous new intelligent services, which allows our customers to have a comprehensive experience and best represents the value of innovation.
Cathay Life's 25,000 salespeople use their iPads to provide one-stop insurance services to policy holders on a mobile insurance platform. Wherever customers are, mobile service personnel are right there with them. This approach also contributes to energy conservation and carbon reduction while providing policy holders with quick, safe, and convenient services, reducing paper consumption by nearly 53.3 million sheets in 2017, roughly the height of 11 Taipei 101 buildings.
CUB makes digital finance an integral part of daily life
The updated MyBank and My MobiBank APP of CUB feature consistent experience, consistent content, and a mobile first approach, providing customers with a simple, streamlined interface and visual experience designed from a user’s perspective. MyBank had 3.17 million users as of the end of 2017. My MobiBank was upgraded and revamped in 2017. Credit card holders no longer need to receive an e-mail to change their password when they apply for a mobile banking account, making the application process even faster. As a result, the number of credit card holders that registered for mobile banking grew 133% YOY. The application process for nonpredesignated transfer accounts was also optimized, and can now be completed online with a mobile phone without needing to go to a service counter; the number of transfers grew 23% MOM as result. As of the end of 2017, My MobiBank had 1.1 million users.
CUB has truly transformed mobile payment into an integral part of people's daily lives, and is actively creating additional areas of application to establish a cashless society. CUB was among the first grove of banks to support Apple Pay in 2017, and led the industry by allowing credit card holders to use Apple Pay on My MobiBank, offering customers access to a brand new payment process. We led the industry in overall (mobile payment) performance, in which young online shoppers and air travelers are especially fond of using mobile payment. Over 30% of these users joined the top three international mobile payment providers. CUB integrated mobile payment technology with wearable devices in 2018 by supporting Garmin Pay and Fitbit Pay, thereby offering cardholders a new mobile payment experience on devices other than their mobile phones. Furthermore, CUB is working exclusively with 7-ELEVEN and also supports FamilyMart's Fami Pay not only for payment services butalso through the provision of credit card invoice carrier services. When a CUB credit card holder uses the credit card to make a purchase, the invoice will automatically be stored in the credit card invoice carrier, and a hard copy will not be printed, providing greater convenience and contributing to environmental protection at the same time.
CUB was among the first grove of banks to support Apple Pay.
Cathay APP services allow you to complete all your errands using your mobile phone
My Rewards APP integrates offline and mobile applications with innovative technologies, and offers a variety of application scenarios and service functions in response to the demand for newer, faster developments in digitization. Cathay FHC utilizes agile development to accelerate its development speed and fulfill requirements for customer experience. Product releases are completed in the most efficient manner from prototype design and development, usability testing, and new version adjustments and retesting. As of the end of 2017, the number of members had exceeded one million. Cathay FHC also set a precedent in the finance industry by using agile development to accelerate the APP's transformation into a charity platform. The new reward point donation function under My Rewards allows users to redeem products and supplies offered by excellent social enterprises with their reward points at a minimum threshold of 20 points, and then donate the products to social welfare organizations in need. This way users' reward points can benefit social enterprises and social welfare organizations at the same time. In less than a week after the service was launched, users had ccumulated over 400,000 reward points and donated 40% of the 1-million-donated-point target. Cathay FHC's My Rewards APP achieves mutual prosperity in society through innovative digital technology, enabling customers to show their care and concern by using reward points to answer the purposes of social enterprises and reflect the thoughtfulness of participating enterprises. My Rewards is therefore truly a mobile platform on which love and care know no boundaries.
The reward point donation function of My Rewards connects the boundless love of people who care.
CUB created a new brand KOKO to meet the needs of the younger generations, and to provide customers with the most convenient financial services. The KOKO APP frees customers from the constraints of time and place through simple application procedures. As of the end of 2017, over 29,000 users had opened accounts on the KOKO APP. CUB furthermore launched the KOKO COMBO icash co-branded card in 2017, integrating the KOKO account debit card, credit card, and icash into one single card. Application for the card is completely carried out online through the innovative one-stop financial service, allowing the younger generation to take the first step in financial management with ease and convenience.
Smart Go App
Cathay Century launched the car insurance Smart Go APP, a mobile marketing management tool, to identify trends in mobile services. The APP allows salespeople to manage car insurance affairs anytime and anywhere using an iPad. The APP received a utility model patent from the Intellectual Property Office, and can be used for calculations and purchasing insurance online. It can also provide policy holders with quotations and payment information in real-time using Line. The Smart Go APP was used for nearly 90% of car insurance quotations in 2017, significantly reducing the time previously needed to generate quotations.
Open Account APP
Cathay Securities' Dunnan Branch revolutionized the model of traditional securities brokerage through adoption of a new digital business model that removes the constraints of personnel, time, and place. Cathay Securities obtained 4 utility model patents in less than a year, the fastest in the industry, and applied the patents in the latest version of the Open Account APP and the newly upgraded stock selection APP. The Open Account APP is the first one in the industry to not require a digital citizen certificate or video authentication process, and uses Authentication and Identification Service Center technology to establish an integrated and secure online identification mechanism. The process of opening a securities account and bank account can be completed through 3 simple steps using the APP. Over 9,000 new accounts were opened within 5 months since the launch of the APP. In other words, the number of accounts opened by one digital salesperson is 144 times that of traditional salespeople.
Cathay Securities' Dunnan Branch uses an all new digital business model to remove constraints of personnel, time, and place and to maximize performance.
My MobiFund APP
Cathay SITE's My MobiFund APP is the first mobile APP provided by a securities investment trust to feature fingerprint recognition and online password unlocking functions. Cathay SITE introduced and continued to optimize push notifications of fund performance in 2016, and added KYC and additional unit payment mechanisms to provide customers with even more convenient service functions. The
number of customers that used mobile devices for trading accounted for 25% of all customers in 2017.