Taishin Bank’s evolving transaction services ecosystem

Taishin Bank’s evolving transaction services ecosystem

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A one-stop solutions for all transaction services, Taishin Bank (TSB) caters to all customers right from small enterprises to the large corporates. Across all the solutions that it provides, customers primarily look for the services related to cash management and trade finance. A majority of the bank’s clientele consists of large corporates who have operations across the country and the neighboring countries. As a result, TSB launched its state-of-art solution – GB2B, a highly modularized and parameterized corporate internet banking platform and an app which provides a flexible and seamless transaction banking experience to its clients. GB2B is a single platform where both domestic and international conglomerates can access integrated services across liquidity, cash management and trade finance.

A solution-oriented approach

As customers become more tech-savvy and sophisticated, Taishin Bank noted that, customers are far more open to offerings from new entrants and while they expect improved and enhanced services from traditional banks. This served as an impetus for TSB ‘to adopt a solution-oriented marketing approach coupled with their banking experience by integrating the plural financial products and resources’ across their transaction services. The bank stepped up to offer physical and virtual channels to its customers across all lines of the transaction business. However, its diversified clientele enabled the bank to also cater to requests related to trade finance. In trade finance, the bank offers diversified products such as import and export OA loan, letter of credit finance, factoring and so on.

With iHub, the bank’s corporate clients and third-party service providers can seamlessly augment their complementary specialties and offerings to the end customer.

Catering to a diverse clientele via iHub

Staying ahead of the curve, Taishin Bank created a Direct Link API platform – iHub dedicated to help serve its clients’ requirements. With iHub, the bank’s corporate clients and third-party service providers can seamlessly augment their complementary specialties and offerings to the end customer. Keeping in mind diversity of its clients who come from various industries such as insurance, securities firms, e-commerce, Electronic Payment Institutions, manufacturing, food service and leasing, iHub increased the bank’s interoperability through products and services such as interest and FX rate enquiry, account information enquiry, multi-channel payment, multi-channel collection, investment and financial management, SME credit guarantee fund automated application, and so on. Not neglecting the upcoming start-ups and SMEs, the bank created API modules to enable fintechs, ERPs and convenience stores to easily connect to the bank’s ecosystem.

With a first-mover advantage, the iHub platform was quick to create a rich and diverse experience adding great value to the end customer. In addition to its own capabilities, Taishin holds a positive attitude to collaborating with Fintechs/TSPs to drive innovation. TSB partnered with a leading cross-border settlement network in Asia, a start-up which was also accepted in Taiwan’s Regulatory Sandbox, to offer cross-border remittance services for migrant workers in Taiwan. As a key player in the region, Taishin Bank has facilitated interoperability and adapted its operations to encompass the evolving banking ecosystem.

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