CTBC Bank bags two wins at ABF Fintech Awards 2024

It redefines banking with strategic collaborations and tailored financial services.

Digital banking company CTBC Bank took home two major accolades at the exclusive ABF FinTech Awards 2024 for its remarkable achievements and quantifiable success in the past year, including the development of a strategy for hyper-personalised marketing to address customer demands for financial products and reduce time for outreach.

Amongst the recent wins of the bank is its usage of artificial intelligence to personalise marketing and services, as well as the digitalisation of processes through Robotic Process Automation (RPA), which minimises wait times and eliminates repetitive tasks. This has empowered staff for higher-value tasks, with over 740 completed RPA projects streamlining the bank’s operations.

It has also seamlessly integrated its channels and services, whilst incentivising transactions through reward points in its digital payment ecosystem. It has issued over 5.8 million CTBC Bank LINE Pay Cards, 1.3 million CPC co-branded cards, 225,000 Hotai co-branded cards, and 120,000 ALL ME cards.

Meanwhile, CTBC Bank has also collaborated with 16 partners for digital loan and mortgage ecosystems, resulting in a 25% increase in leads compared to 2022. As part of this undertaking, the bank has implemented a paperless workflow in the digital mortgage ecosystem that has reduced application times by 50%. 

It has also leveraged technology and data to enhance customer experience and financial security.

As part of this enhancement, it has developed a 5R strategy through advanced data analytical techniques. This strategy features the right customer, the right product, the right channel, the right time, and the right campaign. It applies a diverse source of big data to understand customers better, including digital footprints and a comprehensive 360-degree customer view to improve its understanding of customers and deliver more personalised services.

The 5R strategy enables businesses to make swift and accurate data-driven decisions. This approach not only enhances the precision of targeting potential customers but also optimises the overall sales funnel, leading to higher conversion rates.

The bank received the Customer Experience Solution Award - Taiwan and the Digital Banking Award - Taiwan during the prestigious event.

ABF Fintech Awards recognises the outstanding achievements of companies, ranging from innovative start-ups to established fintech entities and disruptive technological leaders, who are driving impactful advancements in the financial sector.

The ABF Fintech Awards is presented by Asian Banking & Finance Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for your company's impactful contributions to the fintech industry through pioneering solutions and successful deployments, please contact Julie Anne Nuñez at [email protected].