FEIB gains open banking approval
By Crystal Hsu / Staff reporter
Far Eastern International Bank (FEIB, 遠東國際商銀) yesterday became the nation’s first lender to gain regulatory approval to offer open banking services.
The medium-sized lender said it had been given the go-ahead by the Financial Supervisory Commission on Thursday to launch an account integration app, a new service provided in conjunction with affiliate Far EasTone Telecommunications Co (遠傳電信).
The move makes FEIB the nation’s first third-party service provider, as technology is reshaping the banking industry and more customers prefer online transactions, FEIB digital banking division head Simon Tai (戴松志) said.
A smartphone displaying Far Eastern International Bank’s open banking app is pictured in an undated photograph.