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Digital and Innovative Finance

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Digital and Innovative Finance

Facing the trend and challenges caused by Fintech, SKFH takes "digital roots and driving transformation" as its strategic goal in 2022. We will lay the foundation for sustainable development by implementing the foundation in four aspects: "Customer-centric experience strategy", "Accelerating Operational Innovation with Technology", "Data value chain to deepen the value customer base" and "Empowering employees to transform their thinking". In 2022, the Group's digital customers have exceeded 2.77 million, and the digital service promotion has achieved outstanding results.

In 2022, SKFH joined force with its subsidiaries, ecosystem partners, and start-ups to accelerate the introduction of innovative technologies through its "Technology Co-creation Platform" with five key focuses - ABCDE - as the blueprint for its tech development.




 

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 2022 are as follows:

  
 
左右滑動閱覽完整表格
Strategy Solution Achievements in 2022
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, 960,000 members.
  • Annual Transaction Volume: over 770,000 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.
  • Mobile authorized transfer service: Already used 95,000 times.
  • Mobile Phone Code Verification application rate: 78.3%.
  • 452 Quick ID Verifications.
Mobile app innovative 
  • “Mobile app” Digital aids for business.
  • The "Shin Kong Life APP" combines various business services with insurance customer health management, etc.
  • Mobile e-visit, e-insurance, e-payment, e-contract change and e-claim have been launched and are available for use.
  • Shin Kong Life app: 546,000 downloads.
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 108 thousand times.
  • Smart reminder service: Provided services 5,700 times.
  • Shin's Smart Customer Services 2.0 has served 320,000 customers.
Claims risk screening system
  • Claims risk analysis system.
  • Quick claims advanced risk analysis 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. When the inspection rate drops and the case detection rate increases, the system will come into play, thereby improving the overall investigation performance and preventing fraudulent claims.
  1. The claim inspection rate(Note 1) dropped to 2.0% compared to last year.
  2. The claim detection rate(Note 2) rose to 34.8% from last year.
  • Quick claims advanced risk analysis system: Quantify the risk of claims and improve the accuracy of case classification.
  1. The average processing days of normal cases is 1.3 days.
  2. Average monthly number of reviewed cases per person: 406.
Official LINE Account － as your Pocket Service Center
  • Personalized insurance policy notices.
  • Transaction remittance result notification.
  • Insurance policy inquiries.
  • Dedicated service staff inquiry.
  • Policy loan/repayment inquiry.
  • Investment Insurance Policies transactions.
  • Designated outward transfer account number.
  • Simple contract changes.
  • FamilyMart barcode payment.
  • Online payments.
  • Credit card expiration date change.
  • Electronic notifications.
  • Location Search.
  • Number of users exceeded 4.26 million.
  • Total click and use rate of all service has accumulated nearly 770,000 times.
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.
  • Revamped report format with unique digital characters exclusive to the Company.
  • Served approximately 420,000 customers.
  • Made approximately 650,000 plans.
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.
  • Obtained a new patent - "Address Correction System".
Significant overhaul of the sales representative website
  • Revamped UI interface with new content.
  • Enhanced customer personal data protection measures.
  • Responsive Web Design (RWD) for optimal user experience across different devices.
  • Transformation of five pain points into highlight features to precisely support for business expansion.
  1. 83% overall satisfaction of sales representatives.
  2. Strengthened customer personal data protection measures with a completion rate of 100% for 66 permission control functions.
  3. Responsive Web Design (RWD) enhances user experience across different devices, resulting in a 5% increase in NPS satisfaction since the redesign.
  4. Transformed the five pain points into highlight features to precisely support for business expansion, reducing monthly Agent080(Note 3) calls by 20%.
  5. Transformed highlight features that meet sales representatives' habits: user-friendly login page, intuitive interface, website quick search function, single-page browsing feature, and permission management.
 

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.
Note 3:    Agent080 is a customer service hotline for prompt issue resolutions for sales representatives

Shin Kong Bank (SKB)

SKB actively promotes digital finance with innovative thinking and upholds the value proposition of “being part of life and be there for customers”. SKB invested NT$113.994 million in 2022 and promoted multiple digital financial measures including:
  

 
左右滑動閱覽完整表格
Strategy Solution Content Achievements in 2022
Prioritize mobile applications Mobile payment Payment for various services or goods through mobile devices makes payments more convenient. SKB’s debit cards, credit cards, and accounts currently support connection with Taiwan Pay, Google Pay, Apple Pay, LINE pay, JKOPAY, Gama Pay, icash Pay, Easy Wallet, ezPay and other mobile payment tools. Achievements since the provision of various mobile payment services:
  • A total of 545,592 connected credit cards.
  • A total of 271,586 connected accounts.
  • The accumulated amount of credit card spending is about NT$8.44362 billion.
  • The accumulated transaction amount is about NT$3.72521billion.
  • The accumulated amount of stored value consumption is about NT$62.14254 billion.
Mobile banking App Enhance user experience in mobile banking to meet customer demand for financial services anytime, anywhere.
  • Over 850,000 mobile banking customer applications.
  • Added features including surveys, sorting capabilities for transaction and fixed deposit details, reminders for same-day NTD transfers with the same account and amount, checks for duplicate emails with reasons, and smart overview of wealth management investments.
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 1.16 million.
  • The number of active digital users has grown by 13.3% compared to last year.
  • Digital and automated transactions account for a significant 88.95% 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 16,000 customers applied
  • Local transactions amounted to NT$2,803.1 billion.
Cloud service counter A 24/7 online service counter that provides online applications for digital account opening, loans, credit cards, and other wealth management services.
  • Over 320,000 people have been sereved.
  • Rolled out an online loan calculator for micro-enterprises.
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 70 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 93%.
Cardless withdrawal service Provide more convenient withdrawal services and reduce the inconvenience of carrying a physical bank card.
  • Approximately 8,090 users.
Diverse payment services Connected with everyday services to introduce diverse payment services.
  • In addition to existing payment services such as fees, traffic fines, phone and internet bills, water bills, and tuition fees, new electronic payment options have been added.
  • The introduction of the "iCash Life Payment" service has accumulated a total of 4.3 million transactions in the six major electronic payment platforms throughout the year.
eACH payment collection service Use the Global e-Banking network to initiate 24/7 operations for real-time payments by batch, so that the transaction time is no longer limited by individual batches and helps bring great convenience to customers and enterprises.
  • The transaction amount is approximately NT$7.33 billion.
Diverse digital marketing Continuously provide general digital services through cross-industry collaboration. Partners include: FamilyMart, HiLife, KFC, Pizza Hut, Momo shopping network, Sky Films, GaragePlay, Dodo Home, Uber Eats, Foodpanda, Asia-Pacific Telecom, FarEasTone friDay Music, and Lukang MazuTemple. The contents of cooperation include music experience, dining discounts, movie redemption, shopping discounts, pacifying Taisui online and other services.
  • We have added a total of 16 new partners, including 7-Eleven convenience stores.
Digital consumer building Community management “Shin Kong Bank Facebook Fan Page” provides customers with better services with a convenient communication channel.
  • Over 145,000 fans
  • Online sentiment volume exceeding 1,935 articles.
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 12 devices have been installed, providing 24/7 automated services to passengers, with a cumulative number of more than 1,290 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.
 
  • We have newly introduced the verification channel at 7-Eleven, in addition to the existing channels at FamilyMart and Hi-Life. With these verification channels in place, the total number of transactions has exceeded 153,000.
 

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.

  
 
左右滑動閱覽完整表格
Strategy Solution Content Achievements in 2022
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.
  • New features such as "Intraday Odd-lot Conditional Orders" and "Better Price Setting" have been introduced.
  • The accumulated trading volume for the year exceeds NT$3.4 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.
  • The "Capital Market Account for New Account" feature has been added to facilitate customer account opening and fund management.
  • Online account openings accounted for over 70% of the total number of accounts opened of the year.
Masterlink Mobile Trader app We have been continuously optimizing the mobile platform, expanding mobile trading, and introducing convenient online inquiries for investment capabilities/credit lines to electronic trading customers, assisting in obtaining trading overviews.
  • Mobile trading accounted for over 50% of the Company's total electronic trading amount for the year.
Integration with the digital strategy alliance for ordering Integration with well-known industry apps for ordering and other functions such as trading reports and account search, enhancing the convenience of customer trading.
  • We integrated with the Mitake Stock Market app in 2021 and with the SysJust XQ app in 2022 for order placements.
  • The total accumulated trading amount exceeded NT$13.6 billion for the year.
Consumer building Petty bourgeoisie Promote small-scale investments to attract young customers and small capital investors. Utilize the MasterLink Small Capital Odd-lot platform for stock holding, enabling disciplined investment plans.
  • Annual trading volume exceeds NT$1.5 billion.
Major accounts and VIP accounts Provide customized trading platforms for major and VIP customer groups to satisfy their trading requirements.
  • Annual trading volume exceeds NT$697.6 billion.
Independent wealth management customers We built the "Smart Win Win Go" fund management platform, which utilizes big data and algorithms to create personalized investment portfolios based on investors' risk profiles. We are the only securities firm to offer "fully automated rebalancing" smart wealth management.
  • The "Smart Financing Win Win go" app is now released.
  • Won "Best Video Marketing" at the Wealth Management Award.
LINE official account We continue to expand personalized push notifications through MLS's official LINE account. By providing thoughtful exclusive reminders and offering diverse promotions, we aim to create interactive values for our customers.
  • Number of friends of the official LINE account increased by 25% compared to 2021, with a 24% growth in connected accounts.
Digital financial services Periodical investment in the US stock market Established a dedicated section for periodical US stock investment, allowing customers to view their fractional share inventory and place trading orders through various electronic trading systems.
  • Reaching nearly 1,000 investment accounts at year end since its launch in July.
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.
  • We introduced the industry's first "Alert Stock Prediction" feature, utilizing AI analysis to help customers to avoid risks in advance conveniently.
  • The Smart stock selection app has reached over 90,000 downloads in 2022.
Real-time quotes on the US stock To meet global investment needs, we have built a real-time US stock monitoring service, providing customers with a more comprehensive wealth management platform. This enables them to stay updated with investment information and trend analysis in financial markets.
  • Customer demands has seen a surge in the number of multi-account openings. Throughout the year, over 90% of customers have chosen to open both online securities accounts and multi-account trading (securities + derivatives).
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.
  • The "First-time Password Module" has been granted a national patent for its innovative design.
  • The usage of our smart customer service has grown by nearly 20% compared to 2021.
Intraday odd-stock fixed stock We launched the market's first intraday odd-lot periodic investment system, allowing customers to choose the trading date and price for their investments. This provides customers with a diversified approach to stock accumulation.
  • Over 24,000 transactions throughout the year.
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.
  • With around 700 listings, covering short-term, medium-term, and long-term corporate bonds, financial bonds, corporate bonds, and international bonds.
Stock-Based Funds We have introduced the online "Sell Stock for Repayment" feature and also launched "T+0 Flexi-Funds" to shorten the time it takes for customers to receive payment for selling stocks, meeting their needs for flexible fund utilization.
  • We are the first brokerage firm in the market to offer "T+0 Flexi-Funds" for same-day liquidity upon selling stocks.
Online Securities Limit Adjustment Financial proof is exempted from the online application for securities trading limit adjustments under certain conditions as it is integrated with the account balance and sub-account balance data of Shin Kong Bank, eliminating the need for in-person application and enhancing the digital experience.
  • We are leading the industry by introducing online applications that allow adjustments to daily trading limits without being subject to the NT$4.99M restriction.
Financial Education/Digital Platform Video Section We regularly hold online investment talks and create informative videos about online account opening and investment platforms. These videos are distributed through digital platforms such as YouTube, expanding the avenues for customers to learn about investment and become familiar with MasterLink's digital products.
  • Over 200 videos on MasterLink's official YouTube channel.


 
 

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