The Taiwan Banker

With the guidance of the Financial Supervisory Commission (FSC), “FinTech Taipei 2024” co-organized by Taiwan Financial Services Roundtable (TFSR) and Taiwan Academy of Banking and Finance (TABF) will make its grand debut at Taipei World Trade Center Exhibition Hall 1, on November 1st and 2nd. The event is going to build Taiwan's largest international platform for presenting and exchanging fintech innovation achievements, by integrating resources from domestic and foreign financial industries, technology industries, fintech startups, government agencies, research institutions, and academia. FinTech Taipei 2024 will focus on “More than FinTech, Intelligent Finance Creates Sustainable Future.” The design of the exhibition will allow the public to explore and experience digital financial services, and to further experience the trust, convenience, diversity, sustainability and personalized services brought by fintech. Balancing the two crucial requirements of development and safety, the event aims to become a world-class stage for creative and innovative discussions on fintech to be held. 11 Large Financial Holding Companies Planning on Expanding Exhibition Space for Achievements in Intelligent Finance and Sustainable Future In response to the theme of the exhibition “More than FinTech, Intelligent Finance Creates Sustainable Future,” 11 large financial holding companies from Taiwan are planning to expand their exhibition space to display their achievements in intelligent finance and a sustainable future. In recent years, ESG and sustainable finance have been the development priorities in the financial industry, and breakthroughs in the development of generative AI have also been witnessed by the industry and fintech startups. Therefore, the companies decided to integrate new technologies with the concept of sustainable finance, and focus on displaying and sharing ideas on AI-driven and technology-based innovative financial services and transformation achievements that also convey the value of financial services that are intelligent and sustainable. FinTech Taipei has not only been a platform to display, but also a platform for interaction and communication. The exhibition allows participants to experience the latest fintech products and services in person and to learn about the latest technology applications and market trends. By providing opportunities for experts from different fields to share their ideas and experiences, the exhibition sparks inspiration for more innovation. The multi-faceted interactions and communications help promote the overall development of the fintech industry and boost Taiwan's competitiveness in the international fintech field and financial innovation. International FinTech Summit Forums Strongly Correspond to “Train AI in Accordance with Industrial Requirements and Implement AI Technology into Industries” by President Lai The International FinTech Summit Forums will also be one of the highlights of FinTech Taipei 2024. It is jointly organized by the Fintech Innovation Department and the Financial Research Institute of Taiwan Academy of Banking and Finance (TABF). There are three primary themes, AI transformation, AI governance and AI implementation, in response to the idea of “Train AI in Accordance with Industrial Requirements and Implement AI Technology into Industries” proposed by Taiwan’s President Lai Ching-te. AI transformation: The topic discusses the importance and core purpose of introducing AI technology into the financial industry. Automated and AI-driven solutions are changing the financial industry’s traditional methods of operation. Financial AI is now being applied to a wide range of services internationally, from investment assistance and risk management to customer service. To look back on how it all started, international experts will be invited to discuss the purpose of introducing AI into the industry and to share their successful cases and other development trends in AI applications. AI governance: Finding ways to effectively supervise and manage the use of AI is the key to keeping up with the rapid development of AI technology. The forum plans to discuss policy guidelines and governance measures in the application of AI technology, especially in terms of risk control and data privacy protection, as well as ways of establishing a safe, transparent, and sustainable environment for AI applications. AI implementation: The implementation of AI technology will be an important driving force for the development of financial technology, therefore the forum will introduce how to use AI technology to make financial services smarter, as well as discussing how to make good use of AI to achieve a sustainable future. Through case analysis and sharing of practical experience, participants will have a deeper understanding of the practical application of AI technology in the financial field. “Technology Prevents Fraud, Finance Comes Along” Financial Policy Achievement Theme Pavilion Raises Public Awareness of Fraud In recent years, fraud and scams have occurred frequently in Taiwan. Thus, developing solutions to effectively protect people from fraud has become an important task for the government and financial industry. FinTech Taipei seeks to emphasize the importance of fraud prevention, inviting financial institutions and technology startups to participate in fraud prevention planning. Successful experiences and practices in fraud prevention will be showcased to help the public increase their awareness of fraud prevention and further improve their financial literacy. This year, FinTech Taipei also plans to build a financial policy achievement theme pavilion on “Technology Prevents Fraud, Finance Comes Along.” Solutions in response to the government’s important policies, such as anti-money laundering technology and AI applications, will be displayed, highlighting the importance of information security and collaborative cyber defense. The policy theme pavilion will feature: 1. Money laundering prevention: The latest technologies and mechanisms, as well as how financial institutions and related departments use them to effectively prevent money laundering and other fraudulent activities, will be demonstrated. 2. AI fraud detection and identity recognition: There will be introductions on how to use AI and other advanced technology for fraud prevention and detection, as well as the latest technology for financial identity recognition and enhancement. 3. Financial data security: The latest financial security technologies and solutions will be displayed with emphasis on the importance of information security. 4. Fraud prevention promotion and more inclusive education: Various forms of promotion will be shown to help raise public awareness of fraud prevention and financial literacy. Gather Global Finance Companies and Startups in 4 Exhibition Zones to Draw Up Fintech Development Blueprint The four major exhibition zones of FinTech Taipei are the “Important Fintech Policy Achievement Exhibition Zone,” the “Financial Business Innovative Service Exhibition Zone,” the “Fintech Innovation Exchange Exhibition Zone,” and the “Financial Talent Campus Experiment Exhibition Zone.” By having domestic and foreign companies, government departments, research institutions, and the academic sector all in one place, the exhibition will create a grand event integrating innovation, communication, and education. Countless resources are expected to be brought together to boost the overall progress of fintech and to contribute to achieving the dual goals of development and safety. FinTech Taipei 2024 strives to bring new opportunities and challenges to Taiwan's fintech industry.