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

Wenwen Yeh ()
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Wenwen Yeh: Central Deposit Insurance Corporation

No 14, IADI Fintech Briefs from International Association of Deposit Insurers

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.

Keywords: deposit insurance; bank resolution (search for similar items in EconPapers)
JEL-codes: G21 G33 (search for similar items in EconPapers)
Date: 2023-01
New Economics Papers: this item is included in nep-ban, nep-fdg and nep-pay
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Citations: View citations in EconPapers (2)

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