Inclusive Financial Products and Services

Inclusive finance is an important corporate social responsibility of financial institutions, SinoPac Holdings bears the expectations of policy and society and focuses on creating a financial environment with equality, providing suitable financial products and services to underprivileged social groups, who have difficulty accessing financial services, and improving the financial literacy of the underprivileged to help them make wise financial decisions that will give them a chance to change their future.

SinoPac Holdings dedicates its efforts to provide convenient and suitable financial services and financial support for SMEs and financially underprivileged social groups to create a positive impact on society. The Company organizes events and seminars to improve the financial literacy of underprivileged social groups, and that individuals and companies from different backgrounds can access suitable financial services based on openness, equality, and diversity. SinoPac Holdings hopes to use core business to reduce inequality, drive economic growth, create employment opportunities, and drive social development, thereby realizing the vision for inclusive finance.

The Board of Directors of SinoPac Holdings approved the "Inclusive Finance Policy" on July 21, 2023 as the highest guiding principle for inclusive finance businesses. All business units amended related management guidelines on this basis to implement financial inclusion and provide different communities with access to affordable financial products and services that meet their needs.

SinoPac Holdings "Inclusive Finance Policy"

The Smart Wholesale Market Transaction Facilitation Platform

In view of the time-consuming payment process of traditional wholesale markets and the public security risk of carrying cash, Bank SinoPac continued to communicate with the market management unit and merchants and investigated their transaction system and operating procedures. Bank SinoPac created the “Smart Wholesale Market Transaction Facilitation Platform” in 2016 and issued multi-functional merchant cards and distributor cards for agricultural products along with a credit limit. It links the cash flow in merchants' accounts to the wholesale market's electronic settlement system, automatically settles accounts and controls the manages the transaction limits of the wholesalers. Bank SinoPac's efforts to promote the transformation of how markets operate has made it the best partner for agricultural product transactions.
The “Smart Wholesale Market Transaction Facilitation Platform” not only drives the development of agriculture in Taiwan, but also realizes the vision for financial inclusion. It provides high-quality financial services to elderly customers or wholesalers who are accustomed to cash transactions and rarely transact with banks. This responds to SDG1 No Poverty by improving the lives of farmers and fishermen and jointly developing sustainable agriculture. The platform was implemented in 8 wholesale markets in 4 counties/cities, and cooperation modes were established with fruits and vegetables, fishery products, meats, and flower merchants. Bank SinoPac further expanded financial services to upstream suppliers and offered the Agroecology Promotion Credit Card exclusively for farmers. Bank SinoPac implemented the small farmers support program to provide advancement payment custody services. It provides farmers and consumers with convenient and secure innovative financial services.
To determine the social impact of Bank SinoPac in wholesale markets, SinoPac implemented a Social Return on Investment (SROI) evaluation project in New Taipei City Fruit and Vegetable Market, the first market the Company worked with, in 2020. The project found that "Every NT$1 invested by Bank SinoPac can generate NT$6.17 in social value." For the calculation of SROI.

Together, a better life.

Together, a better life.