Smart Finance

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Smart Financial Innovations

● Smart Financial Innovation Promotion Strategies

SinoPac Holdings implemented the Digital Transformation Plan in 2020. SinoPac Holdings upholds two major strategies "Context Management" and "AI," and is actively developing financial innovations. The former responds to the competent authority's open banking policy, and uses a standard Open API combined with the existing Partner API mechanism to create diverse scenarios, expanding the scope of SinoPac's financial services. The latter strengthens financial services through AI and uses big data to analyze online advisory and services for customers, in order to get a clearer picture of customers and gain a precise understanding of their needs.

● Industry-academia Collaboration in Smart Finance

SinoPac Holdings continues to communicate with the IT and R&D teams in practices to accelerate transformation, and actively cultivates new generation FinTech talent through industry-academia collaboration. The Company began phase one collaboration with National Cheng Kung University in 2017 and engaged in research on credit rating reports, precision marketing, product recommendations, and blockchain technologies. SinoPac Holdings invested another NT$80 million in phase two starting in 2020 and extended the collaboration in new technologies, new frameworks, and new business models. SinoPac Securities worked with external business partner StockFeel in a variety of topics, including investment knowledge, Taiwan stock market, US stock market, and investing in ETFs, allowing investors to place orders on StockFeel linked to the API of SinoPac Securities, helping reduce investment risks and optimize the order process for StockFeel's users.

Smart Financial Innovation Services

● Integrated Digital Account "DAWHO"

SinoPac Holdings implemented the Digital Transformation Plan in 2020. SinoPac Holdings upholds two major strategies "Context Management" and "AI," and is actively developing financial innovations. The former responds to the competent authority's open banking policy, and uses a standard Open API combined with the existing Partner API mechanism to create diverse scenarios, expanding the scope of SinoPac's financial services. The latter strengthens financial services through AI and uses big data to analyze online advisory and services for customers, in order to get a clearer picture of customers and gain a precise understanding of their needs.

● Digital investment account – DAWHO TOU

Following the trend of Banking 3.0, SinoPac Securities and Bank SinoPac jointly launched the digital trading account "DAWHO x DAWHO TOU." Investing has become growingly popular due to epidemic prevention and monetary easing by countries around the world to save their economies in 2020. The number of young investors from the Internet era has significantly increased, and overseas sub-brokerage transaction volume has significantly increased. To meet the demand on investing in Taiwan and overseas stock markets, the Bank further upgraded DAWHO TOU digital trading accounts and allow accounts to be opened for Taiwan's stock market and overseas sub-brokerages. The completely paperless, convenient, and rapid process not only drove significant growth in digital accounts and attracted young investors, but also won the "Most Popular Brand -DAWHO TOU" award in the "17th National Brand Yushan Award” in 2020. and the "Top 10 Outstanding Commodities – DAWHO TOU" in the "20th Golden Peak Award," showing our ambition and achievement in digital banking innovations.

● Open Banking Partner APIs

In response to the Financial Supervisory Commission's open banking policy, Bank SinoPac released the Partner APIs (Application Programming Interfaces), and shared financial innovations with startups and third-party service providers (TSP), providing extension applications in "consumption payments," "daily life payments," "identity verification," and "open banking," which extend financial service scenarios to increase financial inclusion. As of the end of 2020, consumer payments reached 3.29 million transactions, and amount reached NT$9.424 billion. Daily life payments and transactions exceeded 150,000, and the amount was nearly NT$1.6 billion. Monthly usage of identity verification exceeded 60,000 times.
SinoPac Securities introduced the innovative smart service "Python API," and provides quotations, orders, report, and historical price data services for domestic and overseas securities, futures, and options markets. It is the first domestic securities firm to deploy API on GitHub.

● Highlight Products and Services of SinoPac Holdings' Smart financial Innovation Services