Taiwanese citizens are said to live in a world of extreme convenience. Shops in most major cities are open 24 hours a day, 52 weeks a year
After years of prevarication, Taiwan is finally entering the age of digital banking. On July 30, the island’s financial authorities handed its first batch of virtual banking licences to three consortia.
The first, led by local carrier Chunghwa Telecom, will be called Next Commercial Bank. The second, Line Financial Taiwan, is backed by the Japanese app developer Line Group, Standard Chartered and a trio of domestic lenders that includes CTBC Bank and Taipei Fubon Commercial Bank.
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