Leading financial institutions in Taiwan recognised for achievements in retail and transaction finance, financial technology and financial markets

CTBC Bank, E.SUN Bank, Cathay United Bank, Cathay Financial Holdings, Bank SinoPac and HSBC Taiwan were recognised for their achievements in retail and transaction finance, financial technology and financial markets at the Taiwan Awards 2024 in Taipei on 15 August.

CTBC Bank received three institutional and six business achievement awards, retaining its position as the Best Retail Bank in Taiwan. The bank has continuously digitalised and innovated its retail financial products and services, resulting in outstanding performance across various metrics. Amid fierce competition in the Taiwan market, it managed to grow its retail revenue by 18% year-on-year while maintaining its leading market share for personal loans, credit card spending, and bancassurance in 2023.

It is also the Best Custodian Bank in Taiwan, and its largest custodian bank, leading across product lines, including transfer agency, trust, and custody. It achieved a 32% increase in new employee benefit trust mandates and excelled in trust services. In 2023, enhancements in system technology also led to top-tier straight-through processing rates in the market.

By reducing enterprise resource planning (ERP) system integration time from six months to one month with an application programming interface (API)-driven solution, enhancing cash management and automation, CTBC Bank was awarded the Best Cash Management Bank in Taiwan.

E.SUN Bank also received multiple awards, notably emerging as the Best Small and Medium-sized Enterprise (SME) Bank in Taiwan.

E.SUN Bank's innovative approach allows SMEs to obtain loan quantum and rates through a 3-minute questionnaire, which drove SME growth with a 25% increase in credit guarantee balances in 2023.

In this year’s Bank Quality Survey, E.SUN Bank achieved a score of 100.8, outperforming all other commercial banks in the market, particularly for its excellent customer service and strong brand reputation, and was recognised as the Most Recommended Retail Bank in Taiwan.

Cathay United Bank was acknowledged as the Best Wealth Management Bank in Taiwan for its strategic investment insights, customer service and its market leading mobile banking service. The bank achieved a 9% rise in assets under management and double-digit growth in affluent customers, supported by robust investment research and asset allocation strategies. Its exclusive distribution of flagship investment products and solutions, and online to offline delivery model improved customer experience. Wealth management product income grew by 29% in 2023.

Cathay United Bank was awarded for the Best Mobile Banking Service in Taiwan, for the first time. The bank has been building an integrated wealth, customer rewards and loyalty programme through its mobile App. By June 2024, the app had garnered 7.4 million registered users with high engagement rates.

Bank SinoPac was recognised for the Best Financial Inclusion Initiative in Taiwan and the Best Green Financial Lifestyle Initiative in Taiwan. As the only awarded foreign bank, HSBC Taiwan was recognised for the Best Deposit Product in Taiwan for its ‘Everyday Global Account’. The product witnessed a 30% growth in retail deposit balances, surpassing the market average, in 2023.

The award for Best Big Data and Analytics Infrastructure Implementation in Taiwan went to Cathay Financial Holdings, which launched Taiwan’s first group data-sharing platform. It utilises artificial intelligence (AI) and hybrid cloud technologies to cut processing time from days to minutes.

The Taiwan Awards is one of the most established benchmarking programmes in retail, transaction finance, risk management and financial technology, recognising exceptional innovation, leadership, management, and performance.

This year’s programme received 61 award entries across five award categories, for Retail Finance Product, Digital, and Frictionless Initiatives, Financial Technology Innovation, Risk Management, Financial Market and Transaction Finance.

For more information about the Taiwan Awards Programme, please visit.