Far EasTone telecommunication, together with National Chengchi University, officially steps into open Banking

        Far EasTone Telecommunication actively promotes the development of financial science and technology. On December 11, 2019, it announced collaboration between industry and school with the Financial Science and Technology Research Center of College of Commerce of National Chengchi University and joined the third-party service providers (TSP) of open banking, becoming the first telecom industry in Taiwan to join the open banking.

        Far EasTone Telecommunication leads innovation and reform, and is the first to step into the open banking

        In May 2019, the International Industry and School Alliance of National Chengchi University established the "open banking innovation laboratory" to study the implementation and operation mode of the international Application Programming Interface (API). It also held regular symposiums on open banking policies and regulations to discuss the relevant regulations and safety standards of the domestic open API, and collected needs of banks and TSP operators. Far EasTone Telecommunication is committed to providing consumers with innovative mobile life, and actively looking for a breakthrough to lead the reform. At the member symposium of the International Industry and School Alliance of National Chengchi University on December 9, Wang Liling, chief operating officer of the International Industry and School Alliance of National Chengchi University, formally announced that FET joined the TSP industry of the alliance, and would work together in the future to be engaged in the financial science and technology and promote the development of Taiwan's open banking.

        Combining with the advantages of telecommunication, accelerating the development of financial science and technology

        Financial technology focuses on the development of network-based business, such as third-party payment, P2P lending, insurance, financial management, and financial services. The biggest opportunity of financial technology is to use databases, big data analysis, multi-channel, community scale, and mobile networking to develop related services. Far EasTone Telecommunication takes advantage of the application and technology of telecommunication industry and the identity as a member of the International Industry and School Alliance of National Chengchi University, it will be able to quickly enter the operation of innovative applications in the field of financial science and technology, and quickly connect with the bank members in the alliance; the spirit of open banking is to return the hegemony of financial data to consumers, in order to pursue the maximization of users' interests. Through collaboration between industry and school of open banking with National Chengchi University, Far EasTone Telecommunication will be able to share its financial data, create new business models and services, provide financial services closer to consumer needs, improve users’ experience and enhance adhesion by opening API by making use of alliance members in the future, and truly implement innovative application services of financial technology and make the domestic financial service ecosystem more diversified and stronger.