The Financial Supervisory Commission (FSC) released the 2024 results of the Financial Inclusion Indicators for Taiwan on June 24. The indicators describe the state of financial inclusion in Taiwan and the effectiveness of the government’s policy implementation efforts. The FSC also stated that it had adjusted the indicators for 2025 in light of financial developments and achievements made vis-à-vis the 2024 indicators.
According to the 2024 results released by the FSC (see Annex 1), Taiwan outperformed the global average for several indicators. For example, there were on average 17 bank branches, 165 ATMs, and 5.619698 million mobile money transactions per 100,000 adults in Taiwan, exceeding the global averages of 16.2 bank branches, 52.5 ATMs, and 4.719477 million transactions. Moreover, 93.3 percent of adults had a bank account and 81.6 percent used digital payments in Taiwan, which again were higher than the global averages of 76.2 percent and 64 percent. There were 738 life insurance policy holders per 1,000 adults in Taiwan, besting the global average of 337. These results underscore that people in Taiwan enjoy convenient access to financial services and make ample use of financial products.
　In addition, targets were set for 10 indicators in 2024, all of which were met. In 2024, there were 8.32 million insurance policies sold online (target: 6 million); the accumulated number of micro-insurance policyholders reached 1.89 million (target: 1.75 million); the number of valid micro whole life insurance contracts totaled 1.19 million (target: 1.08 million); the number of valid compulsory auto liability insurance policies increased compared to 2023; the number of valid residential earthquake basic insurance policies increased compared to 2023; public satisfaction with financial literacy courses reached 94.5 percent (target: better than 90 percent); 92.3 percent of the public perceived financial literacy courses effective (target: better than 90 percent); 49 financial literacy activities were held for new immigrants and female groups (target: 40); 25 insurance companies participated in insurance blockchain services (target: 24); and 99 percent of all cases were decided or resolved by the Financial Ombudsman Institution within 3 months (target: better than 85 percent).
Data concerning five indicators in 2024 showed significant growth compared to 2023, including encouraging banks to set up bilingual branches, mobile money transactions per 100,000 adults, digital savings accounts per 1,000 adults, the number of insurance policies sold online, and the ratio of concluded cases decided or resolved by the Financial Ombudsman Institution within three months. These results indicate an increasingly bilingual financial service environment, improving access to digital financial services, and stronger protection for financial consumers’ rights. These developments are advantageous to meeting the needs of various groups and demonstrate the effectiveness of promoting financial inclusion.
The FSC adjusts the financial inclusion indicators on a rolling basis to make them more effective. The indicators for 2025 can be found in Annex 2. Having adjusted one observatory indicator, the FSC also added or adjusted target values for certain other performance indicators. Following the adjustments, there are now 23 performance indicators and four observatory indicators. Details are as follows:
1.    Adjustment to an observatory indicator: The original indicator, which had concerned the growth in the proportion of e-transaction volumes in the futures market, has been revised. Given the widespread availability of user-friendly electronic trading services and the fact that most futures traders already use electronic tools, the proportion of e-transaction volumes in the futures market has exceeded 95 percent for the past two years. As electronic trading is now highly prevalent, the indicator has been renamed to read “the proportion of e-transaction volumes in the futures market exceeding 95 percent.”
2. Additional or adjusted target values: The target values for the next three years (2025 to 2027) have been increased for six performance indicators. These include the number of insurance policies sold online, the accumulated number of micro-insurance policyholders, the number of valid micro whole life insurance contracts, growth in the number of valid compulsory auto liability insurance policies, growth in the number of valid residential earthquake basic insurance policies, and the results of promoting insurance blockchain services. Target values for 2025 maintain to be the same as before for four performance indicators: overall public satisfaction with financial literacy courses, percentage of the public perceived financial literacy courses effective, holding financial literacy activities for new immigrants and female groups, and establishing a dispute resolution mechanism.
The FSC stated that this is the fifth year it has released the results of Financial Inclusion Indicators for Taiwan since the initial publication in 2020. Performance for indicators related to access, usage, and quality of financial services has shown continuous progress over the years. In the future, in addition to releasing the results of the indicators annually and adjusting them in response to financial developments, the FSC will continue to enhance financial inclusion policies to meet financial needs across all sectors and groups in society, thereby moving toward inclusive growth goals and underpinning the value of financial inclusion.
Attachments
Annex 1: 2024 Financial Inclusion Indicators for Taiwan
Annex 2: 2025 Financial Inclusion Indicators for Taiwan