Taipei (Taiwan News) -- To improve the availability and quality of credit information, the Joint Credit Information Center (JCIC) has established two awards since 2007 to honor financial institutions outperforming in the management of credit information security and information quality. This year, a total of 25 institutions were recently selected to receive the two awards and a special awards ceremony was held on Tuesday.
The winning institutions include Bank of Taiwan, Cota Commercial Bank, Mizuho Bank (Taipei Branch), the Hualien 2nd Credit Cooperative, Taichung Farmers’ Association, Changhua Shengang Township Farmers’ Association, Changhua Fishery Association, TransGlobe Life, E.SUN Bank, Hua Nan Bank, Bank of Kaohsiung, Union Bank of Taiwan, Daliao District Farmers’ Association, Yunlin Dounan Township Farmers’ Association, Chiayi Yijhu Township Farmers’ Association, and Chunghwa Post Co.
An awards ceremony was held on Tuesday with the attendance of Financial Supervisory Commission (FSC) Vice Chairman Cheng Cheng-mount, FSC Director General of Banking Bureau Wang Li-chuan and the country’s Bankers Association Chairperson Joseph Lyu Jye-Cherng.
Earlier this year, the World Bank published its “Doing Business 2017” report with Taiwan ranking 11th on the ease of doing business index. Among Taiwan’s outperforming indicators, the depth of credit information index, for which the Joint Credit Information Center (JCIC) is a responsible authority, received the top rating of 8 points for the third year in a row, excelling beyond its peers in East Asian and Asian Pacific countries with average scores of 4.2 points and the whole high-income economies with average scores of 6.5 points.
To improve the availability of individual credit information, the JCIC introduced an online application platform in late 2015, on which people can obtain their credit report free of charge as a promotional offer until December 31, 2017. More than 120,000 people have enjoyed the service as of Tuesday, according to JCIC.