Financial services introduced to IT techs in Taiwan

Financial services introduced to IT techs in Taiwan

Finance, Information Technology, Management System, News, Press Release

Cash drew from an ATM without a bank card, and credit for walking in return— Taiwan’s new IT technology services are being presented at FinTech Taipei 2019, which opened Friday. The financial institutions are present.

Visitors were curious to try the new facial recognition service in front of the two ATMs on a booth at Taishin Bank, the leading local bank.

Customers will have to record images of their faces in Taishin Bank’s ATM, then connect their photos to their bank accounts, a bank staff member Shen Chen said.

When they attempt to collect cash from the bank’s ATMs, Shen tells them that they don’t need their bank cards but only have to scan the camera. If guests forget to bring bank cards with them or have full hands, and can not reach their cards, it will be very convenient.

Shen said that the bank had already installed 10 ATMs that offer facial recognition services throughout Taipei and plans to add another 20 machines to the next year. The bank will also work with convenience stores to pay for facial recognition.

Customers connect their facial images to their credit cards through an application on their mobile telephones, allowing them to make payments through facial recognition at Taishin Bank’s partner stores.

SinoPac Holdings also promotes its’ santĂ© ‘ credit service on the trade show which includes mobile applications and intelligent sports gadgets.

The longer they walk or work hard, the more credit they earn, using an application on their mobile phones. The loans enable you to benefit from discounts on fees for financial services or pay your credit cards. This is what Jason Chen, a SinoPac Holdings employee on his stand, said in a statement.

The application can also capture information from intelligent sports gadgets like sports bracelets to help gather more accurate information when people go cycling, running or swimming.

Local banks are also using IT technologies like blockchain-based digital payments, digital payments, and transfers through social networking platforms, and app insurance. The two-day FinTech Taipei took place first in 2018, attracting approximately 240 institutes and this year having 459 stands.