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Digital and Innovative Finance

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Digital and Innovative Finance

SKFH operates a comprehensive range of financial services and provides one-stop financial and wealth management products and services including life insurance, banking, securities and funds that meet customer demand through its subsidiaries. We protect customer interests, actively implement the principle of fair dealing between all customers, and are committed to improving customer satisfaction by establishing mechanisms for conducting customer satisfaction surveys and promoting inclusive financial products and services. In the face of the rising tide of Financial Technology (FinTech), SKFH embodies a spirit of innovation and adaptability. We consistently refine our digital business processes with a central focus on enhancing customer experience. By embracing emerging technologies such as artificial intelligence (AI), cloud platforms, and automation, we introduce novel processes, products, and services to satisfy customer demands.




AI Applications

 
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Subsidiaries Solution Contents Achievements in 2023
SKL AI-enabled smart address correction The smart address correction engine and verification rules utilize the PAPAGO navigation system and a commercial building address database for comparison, reducing manual matching errors, ensuring the accuracy of updated addresses, and effectively preventing financial frauds.
  • Achieved a 98% accuracy rate in AI-enabled smart address correction, effectively recognizing nearly 570,000 communication addresses.
Smart customer services monitor customers’ digital tracks "Smart Contact Center" Telephone customer service.

The online "Shin's Smart Customer Services 2.0" has been optimized in conjunction with the Company's revamped intranet, assisting sales in quickly obtaining accurate information. An AI training center has been established to enhance training efficiency, and a question and answer feedback service has been developed to better understand customer needs.
  • Telephone service for changing simple data: Provided services 93 thousand times.
  • Smart reminder service: Provided services 7,000 times.
  • Shin's Smart Customer Services 2.0 has served 394,000 customers
SKB OU micro-enterprise loan - AI quick screening diagnosis Introduced a cloud-based AI screening and calculation platform digital tool to simplify application document processes. The platform reduced the complexity of customer application processes and minimized invalid cases and data calculation errors, thereby improving process efficiency.
  • A total of 1,120 OU micro-enterprise loan cases were approved, with 572 cases screened out as ineligible for application, resulting in approved loan amounts totaling NT$3.25397 billion.
  • A total reduction of 495,900g CO2e.
Credit loan quick screening robot Developed a "Quick Screening Robot" embedded in credit loan application business to act as a "virtual AO."
 
  • Total disbursed amount for the year was NT$170 million.
Automated monitoring mechanism for non-repaid reserve funds Established an automatic monitoring mechanism for post-loan management of credit insurance cases. Utilized a virtual data platform to aggregate information from different channels and developed automated verification technology. Leveraged RPA to send cases involving "non-repayment of reserve funds" to designated personnel via email.
  • Achieved 100% coverage of automated monitoring mechanism.
  • Saving over 500 person-days per month.
  • Preemptively prevented 59 default cases.
MLS Smart customer services We offer 24-hour conversational assistance with the "Online Account Opening Electronic Password Setup" smart service to reduce the time required to obtain passwords and enhance user experience, thereby accelerating the account opening process.
  • Total usage exceeded 357,000 times.
.Smart mobile stock selection Leveraging FinTech, we have incorporated AI and MLS's exclusive research reports to offer investors a diverse stock selection strategy. This enables them to quickly screen potential targets and stay informed about market fluctuations.
  • Total downloads reached 98,679.
SKIT Image recognition Improved account opening efficiency through document image recognition.
  • Launched by the end of December.





 

Digital Finance Applications

Shin Kong Life Insurance (SKL)

Being customer-oriented, SKL dedicates to designing various products and services. In response to the trend of digital finance, we are going forward to attain the goal of providing one-stop financial services. Our achievements in 2023 are as follows:

  
 
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Strategy Solution Contents Achievements in 2023
Service experience enhancement Optimize customer experience in the member area Brand-new member section as well as simple and intuitive operating interface are deeply praised by customers.
  • Membership Count: accumulative 1,060,000 members.
  • Annual Transaction Volume: over 828,000 transactions.
Mobile experience and convenient life Mobile version of authorized electronic funds transfer service.

Mobile Phone Code Verification" for applying for online insurance services.

Combine with SKB’s “Code Verification” service, allowing customers to perform identity verification and apply for services in Mart.

Provided eACH online loans instant payment service, allowing policyholders to flexibly manage funds by transferring funds from SKB to eACH partner banks immediately.
  • Mobile authorized transfer service: already used 150,000 times.
  • Mobile Phone Code Verification application rate: 79%.
  • 417 Quick ID Verifications.
  • The online service processed 41,372 transactions with a loan amount of NT$1.13 billion.
FIDO identity verification service Replaced passwords with biometric identification to address password forgetfulness.

FIDO verification utilizes encrypted public-private key authentication, offering enhanced security compared to traditional login methods.

Designed for cross-screen verification, adhering to the principles of fair treatment and inclusive finance.
  • The first in the life insurance industry to launch the service. 
  • FIDO usage accounted for 40% of app logins after its launch.
Digital sales support Mobile experience and convenient life Utilized digital sales support tools to integrate various business services with policyholder health management.
  • Shin Kong Life app: Totaling 664,000 downloads.
  • Mobile e-Payment: Processed 56,360 payments, with a utilization rate of 92.7%.
Smart Insurance Medical Examination
Utilizing Optical Character Recognition (OCR) technology, the policy contents can be instantly recognized through a camera lens.

Introducing a new protection indicator to quickly reveal coverage gaps.
  • Served approximately 1,170,000 customers.
  • Made approximately 1,180,000 plans.
Technological process applications Claims risk screening system Claims risks analysis system: The architecture of the analysis system and the analysis information platform are constructed to improve the hit rate during an investigation, thereby improving the overall investigation performance and preventing fraudulent claims.

Quick claims advanced risk analysis system: Quantify claim risks to improve the accuracy of case classification and improve claims processing efficiency.
  • Claims risks analysis system:
  • The claim inspection rate (Note 1) dropped to 1.7% compared to last year.
  • The claim detection rate (Note 2) rose to 31.6% from last year.
  • Quick claims advanced risk analysis system:
  • The average processing time for normal cases was reduced to 1.1 days, a decrease of 0.2 days compared to the previous year, indicating improved processing speed.
  • The average monthly review cases per person increased to 438 cases, up by 32 cases from the previous year, indicating improved productivity per person.
Patent achievements CIS customer data integration system In line with the FSC's "Friendly Financial Innovation" policy, we became the first life insurance company to utilize internal big data. Within the system, we introduced the "Friendly Care Tagging" feature, enabling service personnel to identify "vulnerable customers" and provide timely care to protect their policy rights, fulfilling our social responsibility.
  • Awarded the patent for the "Friendly Care Tagging Customer Service Assistance System".
  • Customer service and counter staff rated various functionalities of the CIS system with a satisfaction rating of 4.6 stars (maximum 5 stars).
 

Note 1:    Claim investigation rate = number of cases investigated / number of cases concluded; “Investigation” refers to the procedures that investigators assist in reviewing medical records or data, checking accidents or current situations, etc., to assist in the case review.
Note 2:    Claim detection rate = number of cases solved / number of cases investigated.

   

Shin Kong Bank (SKB)

The SKB driven by innovative thinking, actively embraces digital finance, and upholds the value proposition of "being close to life and putting customers first. Our achievements in 2023 are as follows:

  
 
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Strategy Solution Contents Achievements in 2023
Prioritize mobile applications Mobile payment Payment for various services or goods through mobile devices makes payments more convenient.
  • A total of 685,691 connected credit cards.
  • A total of 360,669 connected accounts.
  • Accumulated transaction amount is about NT$ 32.58 billion.
  • Accumulated amount of stored value consumption is about NT$170.73 billion.
Mobile banking app Enhance user experience in mobile banking to meet customer demand for financial services anytime, anywhere.
  • Over 990,000 mobile banking customer applications.
  • Upgraded device binding for enhanced security and added a feature for overviewing promotions to ensure customers don't miss out on any offers.
  • Added features such as non-designated account for the same ID, large-scale currency exchange, and password reset.
Credit card app By enhancing the digital journey for customers' card usage, we aim to meet their needs in terms of accessing personal credit card rewards, managing transactions, and ensuring security. This will optimize the quality of credit card services and foster customer loyalty.
  • Added 162,467 new downloads throughout the year.
  • Average monthly login users approximately 33,674.
  • Average monthly usage per person approximately 6 times.
Digital Ecosphere Internet banking Features include responsive web pages, multi-browser support, graphic financial analyses, and an intuitive trading interface.
  • The number of online banking customers has surpassed 1.3 million.
  • The number of active digital users has grown by 14.7% compared to last year.
  • Digital and automated transactions account for a significant 89.41% of total transactions.
Global e-Banking Corporate customers’ cross-region online banking services feature diversified payment methods, customized authorization control, and integrated real-time account information.
  • More than 13,000 customers applied.
  • Local transactions amounted to NT$2,363 billion.
Cloud service counter Provides online applications for digital account opening, loans, credit cards, and other wealth management services.
  • Over 750,000 people have been served.
OMNI-U digital deposit account Provide customers with financial account 24-hour real-time online application services, and such accounts can be used to conduct general financial transactions, foreign exchange, fund purchase, securities investment, etc., as well as irregular various preferential activities.
  • Over 250 thousand OMNI-U digital deposit account customers.
Interactive electronic statements Integrated billing information, notifications regarding consumer interests, and a wide variety of offers and other information.
  • The electronic billing ratio is as high as 95.61%
Branch digitalization New Taiwan Dollar currency exchange machine Provide passengers with automated services so that they can convert foreign currency cash to NTD cash, convert NTD to foreign currency cash, and use an NTD ATM/debit card to withdraw foreign currencies.
  • A total of 13 devices have been installed, providing 24/7 automated services to passengers, with a cumulative number of more than 5,179 currency exchange transactions.
Innovative technologies Quick ID Verification We collaborated with the Stock Exchange and FamilyMart convenience stores to introduce our innovative "Quick ID Verification" service. This service allows consumers to use authorized QR codes to insert their chip-enabled debit cards or citizen digital certificates into the FamilyMart FamiPort machine. Users can open accounts, apply for household registration copies, request ID replaecment, and perform various payment transactions, such as deductions and payments.
  • Accumulated transactions since inception: 227,841
Patent achievements Enterprise Credit Guarantee Fund Automatic Subrogation Tracking System Used for tracking compliance with the credit guarantee fund's non-subrogation criteria, including modules for data search, download, storage, processing, and message generation.
  • Obtained a new patent for the "Enterprise Credit Guarantee Fund Automatic Subrogation Tracking System".
Business Opportunity Customer Analysis Sorting System Used for sorting business opportunities, considering factors such as branch distance, negative information, industry classification, and industrial and commercial registration data.
  • 「Obtained a new patent for the "Business Opportunity Customer Analysis Sorting System".
Enterprise Opportunity Map Analysis System Utilizes web crawling modules to search for each enterprise customer's tax, and industrial and commercial registration data while integrating the results of the Business Opportunity Customer Analysis Sorting System to design a visual service interface.
  • Obtained a new patent for the "Enterprise Opportunity Map Analysis System".
 

MasterLink Securities(MLS)

MLS adopts “digital and innovative experience” as its motto and pays particular attention to the investor’s digital service experience. It hopes the personal experience can help investors truly experience the new digital services made possible by Fintech. Our achievements in 2023 are as follows:

  
 
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Strategy Solution Contents Achievements in 2023
Prioritize mobile applications Cloud-based trade orders We offer a composite dynamic conditional ordering, which follows profit-locking strategies based on stock price fluctuations. This assists clients in identifying investment opportunities and increasing turnover.
  • Introduced "Day Trading Conditional Orders" feature.
  • Total trading volume accumulated throughout the year exceeded NT$7 billion.
Online account opening One of few on the market that supports duo app/web platforms for account opening. Process automation accelerates the workflow and expands the range of account types and multi-account opening services.
  • Introducing "OU Wealth Investment (Joint Account for Banking and Securities)".
  • New feature "One-time Opening for Three Accounts (securities/sub-brokerage/wealth management)" added.
  • Online account openings accounted for over 80% of the total number of accounts opened of the year.
MLS OU Wealth Investment app Launched the self-developed "OU Wealth Investment" app, offering innovative and differentiated one-click lazy investment services.
  • "MLS OU Wealth Investment" app scheduled to launch in October.
Consumer building Petty bourgeoisie Promoting investment concepts such as stock saving through customizable mechanisms for Taiwan/US stocks, regular purchases/shares, etc. while continuously developing innovative and user-friendly features.
  • Introduced the "Save Wealth" platform for stock saving, integrating Taiwan/US stock interfaces and diverse customizable stock trading features.
Day trading customers Introduced the industry's first automated order placement feature for day trading strategies. available on both the "Masterlink Mobile Trader" and the "MLS OU Wealth Investment" apps. The newly added feature "Strategic Day Trading" enables automatic trading based on predefined strategies, offering selected targets and providing customers with prompts for profit-taking and stop-loss prices for reference.
  • Added "Strategic Day Trading" feature.
Programmatic trading customers Offering a 24/7 Application Programming Interface(API) online application service, including: comprehensive API tutorials, market data retrieval features, indicator components, and more, simplifying client program development and trading.
  • Introduced "Digital API Online Application Zone".
  • Introduced the industry-leading "Simulation Exchange" feature, which incorporates real-time market data simulation matching mechanisms.
Digital financial services Real-time sell-out of fractional share inventory in US stocks Established a new feature for real-time sell-out of fractional share inventory in US stocks (using FIX protocol; Financial Information Exchange protocol) to expedite the process of selling fractional share in US stocks.
  • Introduced real-time online sell-out functionality for fractional shares.
Instant notification of abnormal patterns Added a feature for instant notification of abnormal patterns to customers, including: certificate application, password error lockout, password change/reissue, 24-hour overseas login, and basic information change.
  • Added "Instant Notification of Abnormal Patterns to Customers" feature.
ETF IPO Online subscription Offering online subscription for ETF IPOs (Initial Public Offerings), allowing customers to subscribe online and have automatic deductions made directly from their designated accounts, eliminating the need for customers to subscribe at counters.
  • The wealth management electronic trading system (Wealth Management app and Bewealthy.tw) has introduced the "ETF IPO" feature.
  • Through this trading channel, a total of 16 products have completed IPOs, with a combined subscription amount reaching NT$4.967 billion.
Electronic transactions of international bonds Bewealthy.tw has added the "Electronic transactions of international bonds" feature, providing real-time market quotes and order placement services for new products.
  • The Wealth Management App has added features for overseas bond product quotations, trading, and account management.
Patent achievements The Stock One-Page Account Overview Display System This system offers a simplified one-page display for stock-related financial matters, improving the previously cumbersome and inconvenient operational methods.
  • Awarded the "Stock One-Page Account Overview Display System" patent.
The Sliding Quote Display System for Stock Order Boxes Designed for the order interface, this system presents sliding quote information in a user-friendly and concise manner, optimizing the quoting and ordering experience.
  • Awarded the "Sliding Quote Display System for Stock Order Boxes" patent.
 



Shin Kong Investment Trust (SKIT)

SKIT actively invests in the development of the digital finance field and pays attention to the convenience for investors, and continues to develop financial services and promote digital services.
Our achievements in 2023 are as follows:

  
 
左右滑動閱覽完整表格
Strategy Solution Contents Achievements in 2023
Prioritize mobile applications Electronic trading website The new version of the SKIT online trading system uses the RWD technology to build a trading website that can be used on mobile devices, at the same time optimizes the customer's mobile experience.
  • Over 24,952 electronic transaction inquiries.
The SKIT Website
  • 622,678 views
  • 205,932 users
  • Average user page views: 3.02
Consumer building Online Account Opening Provide new customers with full online account opening and authorized debit services. Customers no longer need to send back the paper account opening form and wait for verification. Through online account opening, customers can achieve a high-quality service experience of opening an account today and placing an order tomorrow.
  • 150 new account openings.
  • Electronic transactions account for 30% of the total number of transactions.
Finance and wealth management EDM Provide investors with free e-newsletter service to help investors to quickly grasp the market pulse and investment trends, and improve customer satisfaction.
  • We send a weekly themed financial EDM (Electronic Direct Mail).
  • The recipients include SKIT beneficiaries and newsletter subscribers, totaling over 16,500 individuals.

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