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Investments in FinTech development by financial industry are expected to grow over 80% in 2019

1.FinTech investments by financial industry: total investments by financial industry was NT$11.73 billion in 2018, which banking sector invested NT$7.93 billion, securities and futures sectors invested NT$0.82 billion, insurance sector invested NT$2.71 billion and associated organizations invested NT$0.27 billion. According to the forecast, FinTech investments by financial industry in 2019 will reach NT$21.93 billion, which banking sector will invest NT$14.3 billion, securities and futures sectors will invest NT$1.11 billion, insurance sector will invest NT$6.15 billion and associated organizations will invest NT$0.36 billion.
2.The percentage of employees responsible for FinTech-related businesses: in 2018, the number of employees responsible for FinTech-related activities in financial industry accounted for 2.44% of total number of employees, up 0.13% compared with 2017.
3.Cooperation between financial institutions and FinTech enterprises: 107 financial institutions collaborated with FinTech enterprises over FinTech projects in 2018, including 27 banks, 49 securities firms and futures commission merchants, 25 insurance companies and 6 associated organizations. The most of business cooperation types was Big data, followed by information security, AML/KYC, artificial intelligence, cloud services, payment, robo-advisor, others, blockchain, biometrics, RegTech, insurance technology, loans and IoT in order.
4.FinTech patents: 590 applications were submitted in 2018 and 501 of them have been approved. The average approved patents by one FinTech enterprise are 1.68, up from 1.12 in 2017.
Visitor: 329   Update: 2019-09-18