Gaining followers by mobile phones,attractive innovation, advance deployment of FEIB Bankee digital transformation

        In novel coronavirus pneumonia, the "social distance" caused the interaction between people and people, but it accelerated the development of "contactless service". Take the financial industry as an example. People can't go out of the house, but they have to deal with financial transactions, so they have to embrace Internet banking and mobile banking. Dai Songzhi, vice president of digital finance business group of Far Eastern International Bank, is specially invited to share with us how far Eastern International Bank community bank has achieved its goal of "banking in your hand, anytime, anywhere" with innovative thinking and business model.

        The rise of digital

        During the anti epidemic period of the new coronavirus, people began to think about and adjust the financial transaction mode. According to the observation of vice president Dai, the following two data reflect the growth of digital finance in this epidemic situation: "one is the withdrawal rate often mentioned in the past, Far Eastern International Bank From 83% in 2017, it has gradually broken through 90% and even reached 93% at the peak of the epidemic. Among them, the most frequently used types of financial services include: transfer (including app transfer, QR code, and cash gift package), fund transaction, foreign currency exchange, etc., which shows that people have realized that many banking businesses can be completed online without temporary counter. "

        The other indicator is the "digital customer acquisition rate", which is the proportion of new customers obtained through digital channels. In the past, most of the banks applied for business through physical channels, such as opening a deposit account at the counter, lending through Ao loan officers, filling in application forms and applying for credit cards Etc. Deputy general manager Dai found that the digital customer rate of Far Eastern International Bank in the above three businesses has reached 37% this year. "In particular, the temporary account opening of deposit business has to go through a lot of SOP processes, which takes an average of 40 minutes to complete. By contrast, most cases of digital pipeline can be completed through mobile phones within 10 minutes, which is more efficient. Although the bidding time is short, it does not mean that the examination of several banks is rather careless. Vice president Dai stressed, "we still strictly abide by the financial supervision commission According to the regulations, only the data will be sent automatically by the system background, and the suspicious parts will be manually noted. Moreover, the digital pipeline can further detect whether there are duplicate / large number of applications in IP or e-mail, which can prevent the unworthy from using the head application. "

        Moreover, breaking regional restrictions is another advantage of digital access. Vice president Dai said, "at first, Far Eastern International Bank had no branches in the East and outer islands, which could not attract local customers. Since the launch of Bankee, it has accumulated many loyal fans in Jinma or the eastern region. In the week of the most severe epidemic, 79% of customers opened deposit accounts with mobile phones, and only 21% of users chose to handle it on the counter. This shows that the rate of physical and digital customers has been completely reversed. "

                Open platform for mutual benefit and win-win

        The rise of digital has driven the wave of open banking. Far Eastern International Bank is the first digital bank in Taiwan to put forward the concept of open banking. Vice president Dai said, "digital transformation is not just about digitizing banking processes. Bankee uses open API creates an open platform, which not only provides personal deposit financing services, but also cooperates with new companies and other platforms to explore more possibilities. "

        At present, almost all banks launch sub brands or digital brands, and offer special preferential programs to attract customers. However, vice president Dai believes that "short-term or one-off concessions can not cultivate long-term loyal customers. In order to avoid the loss of customers at the end of the event, Bankee social bank directly designs the customer retention secret technology into its products. Bankee social bank uses the recommendation mechanism "circle powder" to let circle owners operate their own community circle to obtain rewards. The larger the community, or the higher the amount of consumption and deposit, the higher the feedback, so as to deepen the adhesion of fans to the platform. In particular, novel coronavirus pneumonia affected the financial market this year, and banks cut down deposit rates. The interest rate of large deposits dropped to 0.11% to 0.24%, Far Eastern International Bank. The operation of social bank against the current situation has launched the policy of "holding two or more members together. Since the next month, both the recommender and the recommender can get a high interest rate of 2.6% (with a limit of RMB 50000) from Bankee's digital deposit account within half a year; deposits over RMB 50000 will still enjoy a living deposit interest rate of 0.6% (no upper limit of limit)", which is rated as the bank with the highest interest rate for large deposits in the market. Deputy general manager Dai found that "during the epidemic period, the number of people applying for the bid increased several times every day, and many large households deposited tens of millions or even hundreds of millions of yuan at a time! "

        After making a good reputation, in March this year, Far Eastern International Bank and affiliated enterprise far EasTone telecommunication jointly launched the first "serial bank account" deposit plan app "Friday 57" in Taiwan, using open API links customer information to provide financial solutions more suitable for the needs of young people in the form of "2.6% annual living deposit interest rate".

        Vice President Dai frankly said that the planning of new products is closely related to the pure online banking structure. "The addition of pure online banking is a major change in Taiwan's financial market. Far Eastern International Bank is also optimistic. In particular, Far Eastern International Bank has not only a physical banking license, but also a far eastern group If the advantages of diversified industries can be applied properly, they will definitely bring into play greater benefits. "Friday57 not only lays out financial technology, but also has the experimental significance of diversion and the spirit of comprehensive cooperation of the group. Vice president Dai explained," far EasTone telecommunications has more than 300 self operated stores. Customers apply for far eastern international bank accounts by scanning QR codes in far EasTone telecommunication stores, just like Far Eastern International Bank More than 300 physical stores have been added. "Friday57 launched the wallet function in the early stage of online mutual guidance mode; in June, it launched a high value feedback action plan, and the public through far EasTone telecommunication The newly applied / code carrying "parent-child baby 298 scheme" will give back 15% of the monthly Telecom rental fee to Bankee digital deposit account every month, hoping to achieve the goal of "offline on-line", so as to create a win-win situation among consumers, banks and telecom operators.

        In addition to the mutual diversion with far EasTone telecommunication users, vice president Dai also predicted that Bankee social bank would cooperate with etc in the near future, "at present, etc has about 7 million users, but only 2 million people have applied for account If the value-added service of link can be deducted from Bankee account via mobile phone in the future, plus the preferential living deposit rate of 2.6%, I believe that it can attract more road users to apply for the service, adding another example for the comprehensive effect of the group. "

                Financial department stores innovate financial management

        Vice President Dai is well aware that in the rapidly changing digital era, we should not only rely on the existing banking business, but also constantly bring out more eye-catching products and maximize the possibility of deposit accounts. Therefore, he took advantage of the force to introduce the living water, with baap (bank as a platform) as the core concept, in Bankee The "financial department store" zone is set up in the app to link the innovation investment scattered on different platforms to Bankee social bank through API. On the one hand, it solves the pain points of financial technology companies and investors in dealing with cash flow, on the other hand, it also provides diversified innovative investment commodities with different risks and rewards for the public to choose freely.

        "Baap model is the future trend. Bankee community bank is a pioneer in Taiwan. Therefore, many new companies are attracted to seek cooperation. I believe that the next battlefield of finance is these new products and services. Vice President Dai analyzed. Last year, Bankee app's "financial department store" first launched the "stockgo" fund exchange supervision sandbox case, using blockchain technology to allow investors to trade and exchange mutual funds in real time. At the beginning of this year, it aimed at the emerging financial technology market of person to business (person to business), and joined hands with Taiwan United financial technology company bznk, which was established by far Eastern International Bank Social bank provides four major financial services: check protection, fund custody, API cross flow and customer guidance. It not only helps bznk to open the bill market, but also indirectly supports healthy small and medium-sized enterprises to raise funds from the mass market, and creates a safer, friendly and faster investment environment for the public.

        In addition to the P2b market, Bankee social bank is also actively striving for P2P (person to person). Recently, it has closely cooperated with Yuanbao Financial Technology Co., Ltd., which is invested by far EasTone telecommunication, to make online investment and loans easier for customers through mobile phones. "This is not only a combination of mobile communication and financial technology application services, but also a result of innovation and comprehensive effect. Vice President Dai pointed out, "first of all, far EasTone telecommunication transforms big data into a risk control model. For example, from customer mobile data, it is concluded that users who move frequently at night belong to high-risk; those who move from nine to five belong to low-risk office workers, and then the risk monitoring data is used as the judgment principle for lending business. In other words, the join smart lending platform not only matches investors and borrowers, but also provides a telecom big data check. In addition to the general self financing investment options, it also provides the market's first "backer" scheme. If the borrower fails to repay the money, the investor can still get full compensation, making the investment more secure. Not only that, vice president Dai also revealed, "the future includes: stocks, bonds, virtual currency, mobile phone pawnshop And other financial products, may appear in Bankee financial department store. "

        As a digital brand of physical banks, Bankee social bank is responsible for leading the digital transformation of Far Eastern International Bank. The "advanced deployment" is not so much to meet the digital needs of customers in the new financial era than to meet the pure online banking to be opened soon. It is believed that by integrating and connecting various industries of the group, Far Eastern International Bank will continue to expand the distribution of financial technology and create a refreshing financial ecosystem!