Richart, from Taishin Bank
Taishin Bank has worked hard to craft a new digital offering tailored to the next generation of spenders, investors, savers, homebuyers and young entrepreneurs. Its brainchild can feel a bit hit-and-miss at times. Do young users of Richart really enjoy logging on to a website that features an endearing but irritatingly omnipresent cartoon dog?
But this is a quibble, as the overall look, design, feel and sensibility of this project should not be dismissed. Knowing that young people shy away from visiting physical branches, Taishin launched this product in April 2016 as a new digital bank for a brave new digital era, aimed squarely at customers aged 25 to 40.
It has been a hit: 90,000 people with an average age of 35 applied for a Richart savings account within the first 11 months, 70% of which were new customers to Taishin.
The parent describes it as the island’s “first and biggest pure-digital bank”, designed specifically to be used by the young, busy and above all mobile customer.
Richart acts as a financial channel under senior vice-president Christy Shyy, suggesting deposit services, credit cards and investment options to young clients, and giving them handy tips on how to save for the future. It also educates, helping newcomers to understand financial terms. Richart’s overseers promise to listen to the customers, holding regular seminars and workshops.
If this is the future, it isn’t half bad.