On October 18, CRIF China Credit Information Service, Ltd. (CCIS) organized “Future Trend & Innovative Application of Global Open-banking Issue” forum in Taiwan. Specialists from the industry, government and university were invited to share their thoughts and discuss the global opportunities and challenge of open banking with over 200 guests. In the forum, Jennifer Wang, COO of NCCU GLORIA, Grant K.Y. Huang, Consultant of NCCU Fintech Center and Zhen Rong Chen, CEO of Moneybook shared the industry changes and new business opportunities under the wave of Open Banking. While Xin Chuan Lin, General Manager of DBS Bank Taiwan, Vincent Wu, CSO of Next Bank, Chue Ren-bin, Director of Chunghwa Telecom’s Big Data Department and Dr. Hwa-Ping Chang, CEO of Eureka FinTech Limited discussed how financial institutions could make strategic arrangements and extend their reach to more diversified industrial aspects. 

“By combining CRIF's financial credit information technology and CCIS's strength in credit information, CCIS has started to develop “CredTech” this year, assisting the financial institutions in Taiwan to improve their efficiency, profitability and customer experience on the road to digital transformation. Under the wave of Open Banking, CCIS will enter the personal credit field in the future, and strives to become one of Taiwan’s significant TSP players”, said Alice Kwok, President of CCIS. 

Vincenzo Resta, Regional Executive Director of CRIF – parent company of CCIS, which is among the top 50 of 2019 IDC FinTech Rankings, as well as Silvia Cotta Ramusino, Open Banking & Market Intelligence – Director of CRIF also joined the event. “CRIF already got the AISP licence in 31 European countries through the acquisition of companies in Europe, which enables CRIF to operate in all countries that have implemented PSD2, strengthening its vision of Open Banking as a driver for growth and innovation in its services”, stated Silvia Cotta Ramusino. 

"CRIF has actively acquired information providers in Vietnam, the Philippines, and Singapore in recent years. It has completed 90% of acquisitions in Asia in 2019. It will also focus on actively expanding the Asian territory and providing financial companies and consumers with international fintech and big data credit reporting services through the introduction of fintech. After the acquisition of CCIS in 2016, CRIF is also actively introducing CRIF's fintech solutions, and is committed to assist the banks, financial institutions and telecommunications companies in Taiwan in decision making," commented Vincenzo Resta.