Taiwan

Taiwan’s Digital Banks Will Struggle to Turn a Profit, Says Consulting Firm

Despite showing potential to address market needs and foster innovation in the banking sector, Taiwan’s new digital banks still have a long road ahead to reach profitability amid a saturated retail banking market and limitations in the services they are

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LINE Bank Taiwan Clocks More Than 1 Million Users Within First Year of Launch

LINE Bank Taiwan announced that it has already exceeded 1.1 million customers in the first year of its operations. The neobank was among the three entities to receive a virtual banking license from Taiwan’s Financial Supervisory Commission in June 2019.

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A Conversation With Victoria Huang, Marketing Campaign Manager at OPSWAT

OPSWAT is a global leader in IT, OT and ICS critical infrastructure cybersecurity solutions and Deep Content Disarm and Reconstruction (CDR), protecting the world’s mission-critical organizations from malware and zero-day attacks. More than 1,500 organizations worldwide trust OPSWAT to secure

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Taiwanese Fintech Sector Poised for Growth Amid Booming Startup Ecosystem

Taiwan’s booming startup ecosystem and recent fintech developments could be hinting at further growth in the local fintech sector. A leading global supplier of hardware, Taiwan has a vibrant startup ecosystem and is on track to grow into a global

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LINE Bank Set to Launch Virtual Bank Soon to Its 21 Million Users in Taiwan

LINE Bank announced that it has been granted an operational license by Taiwan’s Financial Supervisory Commission to launch a virtual bank. LINE Bank has been working with the regulatory authorities on the due diligence process after being one of the

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Taiwan Furthers Open Banking Ambitions

Taiwan is moving forward with its plan to embrace open banking. The country’s Financial Supervisory Commission (FSC) recently granted approval to seven banks to enter the second stage of open banking, Regulation Asia reported earlier. The second phase of open

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Rakuten Officially the First Digital Bank to Launch in Taiwan

Rakuten International Commercial Bank (RICB) announced that it has officially launched operations making it the first digital bank in Taiwan. Established in May 2020, Rakuten Bank holds 50% of ownership while IBF Holdings owns 49% and the remaining 1% is

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Taiwan’s First Virtual Banks: The Progress So Far

In July 2019, the Financial Supervisory Commission of Taiwan (FSC) gave its approval for the establishment of three virtual banks, though none of them have launched yet. Line Bank, a consortium led by Japan’s Line, was amongst the three companies

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Temenos Bags Taiwan’s Virtual Bank as a Customer

Temenos, the banking software company, announced that Next Commercial Bank (Next Bank), has selected Temenos Transact to power its launch as one of Taiwan’s first virtual bank. Cloud-native, cloud-agnostic they said that Temenos Transact will deliver rich, pre-configured banking functionality

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CoolBitX Raises $16.75M In Series B Funding Led By SBI Holdings

CoolBitX, has successfully secured $16.75 million in a Series B funding round. According to their statement, the funding will help provide FATF-compliant solutions to virtual asset service providers (VASPs) around the world through their service, Sygna. The funding round, led

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