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Taiwan's JCIC honors institutions excelling in credit information management

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Taiwan's JCIC honors institutions excelling in credit information management

Taipei (Taiwan News) -- To improve the availability, accuracy 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 24 institutions were selected to receive the two awards and were honored in a ceremony on Friday.

The event was attended and celebrated by Financial Supervisory Commission (FSC) chairman Wellington Koo (顧立雄), FSC Banking Bureau Deputy Director-General Jean Chiu (邱淑貞), Chief Director of the Bankers Association Lu Chu-cheng (呂桔誠), and Bureau of Agricultural Finance Director Hsu Wei-wen (許維文).

Koo said that in order to improve service to the public, next year the JCIC would introduce the looking up of credit information with one's smartphone or other mobile devices.

The winning institutions for excellent management of information security controls include Bank of Taiwan, Taichung Commercial Bank, Cota Commercial Bank, Mizuho Bank (Taipei Branch), the Keelung 1st Credit Cooperative, the Taichung Farmers' Association, Hualien Guanfeng District Farmers' Association, Tainan Xuejia District Farmers' Association, Cathay Life Insurance, and Rakuten's credit card business.

And the winning institutions for excellent management of credit information include Bank of Taiwan, Land Bank of Taiwan, E.SUN Bank, Bank of Kaohsiung, Sunny Bank, Agricultural Bank of Taiwan, Tamshui First Credit Bank, Tainan City Yong Kang District Farmer's Association, Kaohsiung Daliao District Farmers' Association, Chiayi Yijhu Township Farmers' Association, and Chunghwa Post Co.

Rakuten's credit card business, ANZ Taiwan, and Cathay United Bank are three credit card issuers awarded for excellent management of credit card information.

Earlier this year, the World Bank published its “Doing Business 2018” report with Taiwan ranking 15th on its 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 competent authority, received the top rating of 8 points for the fourth year in a row, far surpassing the 4.2 point average score of its peers in East Asian and Asian Pacific countries and the 6.6 point average score of high-income economies.