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September 24, 2017

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CTBC Bank wins 2017 eASIA Awards

The CTBC Bank has won the gold prize for data driven value creation at the 2017 eASIA Awards on Sept. 12 for its research and development in big data technologies.

The bank's award-winning project, the CTBC Data Analytics Transformation, was also the only Taiwanese entry in the category.

First held in 2003 by the Asia Pacific Council for Trade Facilitation and Electronic Business (AFACT), the biannual competition has incorporated FinTech industry in its categories for the first time this year. Twelve teams from five Asian countries, including five from Taiwan, competed in the final round of the competition held that the venue of the World Congress on Information Technology (WCIT) 2017.

The gold prize is a recognition of CTBC Bank's push in developing big data exploration platform and to establish potential digital application scenarios through deep data mining. The panel of judges also recognized the bank's efforts in nurturing big data analyzers and data scientists through programs such as in-house hackathons.

The bank represents Taiwan at WCIT 2017 with the support and guidance of the Financial Supervisory Commission and the Central Bank of the ROC, showcasing Taiwan's FinTech innovations such as foreign currency exchange machines, finger vein ID ATMs, video teller machines (VTMs), voice financial assistant and AR technologies.

Friedman Wang, CTBC Bank's executive Vice President and head of the bank's Global Retail Credit Risk Management Division, said that the CTBC Bank pointed out the concept that "data is the new oil field" and businesses that can first extract new value from this oil field will gain a lead in the industry. The award-winning project is the chief example of CTBC Bank's progress in this aspect in recent years, he said, adding that big data has been used in the bank's services including real-time home price evaluation, smart investment management, and online loan application platform.

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