Create, share and make a good use of the digital strategy of Far Eastern International Bank

        With the official opening of pure online banks such as Lotte bank, line bank and futurebank, the "digital war" in Taiwan's financial industry is becoming more and more intense. In order to rush new customers and improve market share, banks have launched large-scale advertisements and offered discounts. By the end of March 2022, the three pure online banks have faced the pressure of capital increase, and traditional physical banks have also invested heavily to accelerate digital transformation. On the contrary, Far Eastern International Bank has already laid a niche in the field of digital finance through Bankee social bank. In the future, it will continue to take a different path with its unique advantages!

        In the past, physical branches represented the bank's revenue and assets. With the growing maturity of mobile technology and the impact of the COVID-19, the public's acceptance of digital finance has become higher and higher; On the contrary, opening an entity branch must bear the expenses and costs of NTD1 ~ 300million, so many banks choose to close the entity branch. According to the statistics of the Financial Supervisory Commission, the total number of branches in Taiwan has decreased by 57 in the past seven years. By the end of 2020, the total number of branches of all banks has reached a new low in the past nine years. In order to protect people's rights and interests, many banks have taken the challenge of "bank 3.0: Digitalization of financial services". However, bank 3.0 only digitalizes processes and services and can not really meet people's needs. Therefore, Far Eastern International Bank took the lead in proposing the concept of bank 4.0 three years ago and established the world's first sharing economy bank, Bankee community bank, to develop an innovative business model.

                Turn customer identity into online Branch Manager

        Unlike other banks, Far Eastern International Bank social bank takes "social finance" as the core, uses the power of the community to strengthen the operation and promotion of products, so that everyone can become an online branch manager. For example, before June 30, 2022, customers share recommendation codes with relatives and friends, and only one or more relatives and friends need to successfully open an account. From the next month, The recommender and each recommendee can obtain the preferential interest rate of 2.6% within the ntd50000 limit for 6 months. If the total deposit amount of the social circle of the recommender in the current month reaches different threshold amounts, the recommender can obtain 2.6% preferential interest rate of different lines in the next month according to different levels (13 levels in total), up to 2.6% within the ntd5000000 line. This innovative concept embeds the factor of "co creation, sharing and mutual benefit" in the products, not only realizes the social power through the profit sharing reward system, increases the passive income of customers, but also expands the service scope and strengthens the adhesion of customers. Since its establishment, it has expanded nearly 20000 online branches, of which the number of the largest branch has even exceeded 26000, with a deposit balance of nearly 1.1 billion.

                Maintain two-way interaction and establish long-term partnership

        Breaking away from the one-way relationship between traditional banks and customers, Far Eastern International Bank community bank has carried out two-way interaction with customers. In addition to giving full play to the unique advantages of social power and digital power, allowing customers to operate their own online branches, it has also handed over the dominance of product design and creation to customers, and invited everyone to jointly design Bankee financial card interface, functional interface, and participate in UGC (user generate content) marketing activities, By jointly creating financial products and sharing product profits, we can make products closer to consumers and establish a long-term partnership.

        Expand the alliance of different industries and create a diversified ecosystem

        In view of the fact that consumers' expectations for banks today are not only deposits, remittances and loans, but also connecting all aspects of life, Far Eastern International Bank community bank especially adopts the strategy of open financial platform, connects the financial ecosystem and big data, changes the competitive relationship with new technology companies, and embeds financial services into new technology through the "baas (bank as a service) embedded financial model" A platform for partners to build a diversified ecosystem. For example, the first P2P ecosystem in Taiwan has been established by joining hands with the smart lending matchmaking platform and enterprise fund-raising platform; Cooperate with the human resources system start-up technology company to establish Taiwan's first HR fintech ecosystem; Set up Taiwan's first rental ecosphere, car economy ecosphere, etc. to improve the convenience of consumption and life with diversified financial services.

        Community platform assists catch the eye of the sliding generation

                In addition to promoting Far Eastern International Bank's social bank to meet the people's financial needs, Far Eastern International Bank also makes good use of the social platform, combines commodities with current events, intersperses relaxed topics, maintains interaction with customers, and establishes a high-quality and people-friendly image.

        Observing that audio-visual marketing has become a trend, Far Eastern International Bank specially planned a series of unit films of "small win" series, which were put on youtube and combined with product introduction and marketing activities in a lively way, and were deeply loved by fans! For Facebook (FB), which has the highest usage rate, Far Eastern International Bank has established a "Far Eastern International Bank happy+" fan group and a "Bankee social bank" fan group. The former is mainly used to convey the big and small events of Far Eastern International Bank. The number of fans is up to 440000, and the users cover all ages; The latter is to convey the brand concept of "co creation, sharing and common good" to fans through posts. Because modern people are used to asking questions in private messages of fan groups, the FB fan group of "Bankee social bank" has built a perfect robot Q & A, and updated and optimized the answers to various difficult problems at any time, so that the problems of most netizens can be quickly solved. The community editor also actively interacts with fans, and attracts fans' attention, accumulates resonance, and deepens customers' recognition of the brand through interesting posts such as Q & A, psychological tests, recommendation codes, etc.

        On the other hand, considering that instagram (Ig) has gradually become the most commonly used social app for the skaters, Far Eastern International Bank has specially built the Ig fan specialty of "Bankee community bank". The editors comply with the skaters' preference for soft content and pay attention to visual beauty, match professional knowledge or soul touching posts with beautiful pictures, and actively release time bound news by creating hashtag belonging to Bankee, Attack the market of young people.

        In the face of the outbreak and the competition of pure online banking, Far Eastern International Bank exerts its digital strength, regards customers as partners, and creates a new business model to meet the challenge; At the same time, we also actively use social media to interact with customers through various posts to consolidate fans' loyalty. Far Eastern International Bank is convinced that as long as we work together with our customers, we can achieve the goal of "banking in your hand, anytime, anywhere".

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