Press Release
Financial Institutions Investment in Fintech continues to reach a record high
2021-09-28
Since 2018, the FSC has annually commissioned the Taiwan Financial Services Roundtable (TFSR) to survey fintech investments by the domestic financial industry during the preceding year. This year’s survey of 2020 fintech investments was conducted through financial industry associations (for banks, bills finance houses, securities firms, futures commission merchants, investment trust and investment consulting firms, life insurers, and non-life insurers) as well as financial industry self-regulatory organizations such as the Taiwan Stock Exchange, the Taiwan Futures Exchange, the Taipei Exchange, the Taiwan Depository & Clearing Corporation, the Financial Information Service Co., the National Credit Card Center, and the Joint Credit Information Center. There were a total of 301 survey respondents. Key findings include the following:
Operating funds allocated to fintech: Total of NT$18.21 billion in 2020, and an estimated NT$23.5 billion in 2021 (estimated growth of 29%).
Number of employees engaged in fintech tasks: Total of 10,145 persons in 2020, or 3.23% of all employees in 2020 (up by 2.87% from 2019).
Cooperation between financial institutions and fintech firms: In 2020, 111 financial institutions engaged in business cooperation with fintech firms, mostly involving operations in “Cybersecurity”, followed by payments, big data, robo-advisory wealth management, AI, AML/KYC, cloud services, blockchain, biometric identification, compliance technology, insurtech, lending, and IoT.
Fintech patents: A total of 984 fintech patent applications were filed in 2020 and 817 were approved. This works out to an average of 3.27 fintech patent applications per financial institution, up from 2.82 per institution in 2019. The average of 2.71 fintech patent approvals per institution in 2020, up from 2.01 approvals per institution in 2019.
Contact: Financial Technology Development and Innovation Center
Telephone: (02)8968-0897
If you have any questions, please send an email to:FSCmail
Operating funds allocated to fintech: Total of NT$18.21 billion in 2020, and an estimated NT$23.5 billion in 2021 (estimated growth of 29%).
Number of employees engaged in fintech tasks: Total of 10,145 persons in 2020, or 3.23% of all employees in 2020 (up by 2.87% from 2019).
Cooperation between financial institutions and fintech firms: In 2020, 111 financial institutions engaged in business cooperation with fintech firms, mostly involving operations in “Cybersecurity”, followed by payments, big data, robo-advisory wealth management, AI, AML/KYC, cloud services, blockchain, biometric identification, compliance technology, insurtech, lending, and IoT.
Fintech patents: A total of 984 fintech patent applications were filed in 2020 and 817 were approved. This works out to an average of 3.27 fintech patent applications per financial institution, up from 2.82 per institution in 2019. The average of 2.71 fintech patent approvals per institution in 2020, up from 2.01 approvals per institution in 2019.
Contact: Financial Technology Development and Innovation Center
Telephone: (02)8968-0897
If you have any questions, please send an email to:FSCmail
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- Update: 2021-10-01