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The Use of Fintech in Enhancing the Supervision of Internet-only Banks in Chinese Taipei

Author

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  • Wenwen Yeh

    (Central Deposit Insurance Corporation)

Abstract

The Central Deposit Insurance Corporation (CDIC) has introduced a reporting method for internet-only banks platform to conduct real-time monitoring and generate visualized analytical reports. The tool is based on an application programming interface (API). In alignment with the international Suptech development and acting in accordance with the policy of the Chinese Taipei Financial Supervisory Commission, CDIC established the Internet-only Banking Supervisory System (IBSS). This is an API-based platform, to which internet-only banks must file certain reports periodically and abnormal event notifications in real-time. This new monitoring and supervision fashion is in line with the IADI Core Principle 13 on 'Early Detection and Timely Intervention', which calls for a framework in which deposit insurers and financial authorities can detect potential threats in an early stage and intervene timely. The IBSS triggers an instant message alert to the CDIC and other financial safety net members upon an abnormal event to raise vigilance. In addition, the data collected through IBSS are made available to the relevant financial safety net members for use in supervision and risk monitoring.

Suggested Citation

  • Wenwen Yeh, 2023. "The Use of Fintech in Enhancing the Supervision of Internet-only Banks in Chinese Taipei," IADI Fintech Briefs 14, International Association of Deposit Insurers.
    • Handle: RePEc:awl:finbri:14
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    File URL: https://bit.ly/IADI_FB14
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    Cited by:

    1. Bert Van Roosebeke & Ryan Defina, 2023. "Deposit Insurance in 2023: Global Trends and Key Issues," IADI Research Papers 23-02, International Association of Deposit Insurers.

    More about this item

    Keywords

    deposit insurance; bank resolution;

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G33 - Financial Economics - - Corporate Finance and Governance - - - Bankruptcy; Liquidation

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