UK bank opens Taipei digital flagship branch

The China Post news staff and CNA

TAIPEI, Taiwan — Standard Chartered Bank on Tuesday opened its first Asia-Pacific digital flagship branch in Taipei, staffed with a professional team to upgrade the bank’s digital services in Taiwan. John Tan (陳銘僑), CEO of Standard Chartered Bank Taiwan, said Taiwan is one of the markets the U.K.-based banking group is aiming to develop in the region and is as important as the neighboring Hong Kong and Singapore markets. The bank said it plans to invest US$1.5 billion in Taiwan over three years to develop its global digital banking services by applying innovative financial technology (FinTech) to better serve its customers. As part of the global digital banking development plan, Standard Chartered has launched its “iWealth” digital flagship branch in Taipei, which represents a milestone in the bank’s operations in the country and also a concrete action plan to expand in the Taiwan market, Tan said. Tan said the iWealth service will be extended to other cities in Taiwan, starting with Taichung in central Taiwan in the first half of next year. Kate Lin (林素真), head of Retail Banking Standard Chartered Bank Taiwan, said the new iWealth branch in Taipei is staffed with wealth management specialists who can offer tailored products for customers and will ensure quick and secure services. Standard Chartered is investing US$2 million to develop its digital banking services in Taiwan, according to local media reports.

The iWealth digital flagship branch features six key services: 1. Digital booking system allowing customers to make reservations for wealth management consultations within 30 days 2. Tea-tasting room featuring limited-edition Standard Chartered Bank Rose Black Tea and other characteristic Taiwanese teas 3. Online banking experience area 4. iPad experience area featuring tablet devices preloaded with information such as financial information, tea introduction and over 100 online magazines on the iMagazine app. 5. Digital wealth management consultation 6. VIP Room