AfE 2024
Cathay United Bank improved its digital customer service last year and employed artificial intelligence and big data tools to better understand its customers’ credit metrics. This resulted in record digital growth for the bank, with digital user penetration up by nearly 50% over 2022.
The bank launched its online mortgage in 2023, with customers able to complete the entire process digitally. The credit analysis system allows for automated reviews and by the end of 2023 over 75% of mortgages could be automatically approved.
The bank upgraded its customer service systems; and it has also invested in upgrading its risk control systems by optimizing its revenue and risk prediction platform.
Digital user penetration increased by 42% over the year and customers performing digital transactions grew by 28%. Digital income grew by 36% and its digital customer acquisition rate increased by 394%.