NEXT BANK IS
A COMMERCIAL BANK IN THE FORM OF PURE ONLINE BANKING, THE FULL NAME OF NEXT BANK CO., LTD., ESTABLISHED IN JANUARY 2022 AND HEADQUARTERED IN TAIPEI, TAIWAN. AS ONE OF THE FIRST THREE BANKS IN TAIWAN TO RECEIVE A PURE ONLINE BANKING LICENSE FROM THE FINANCIAL SUPERVISORY COMMISSION (FSC), NEXT BANK IS COMMITTED TO CREATING UNIQUE DIGITAL BANKING SERVICES WITH INNOVATIVE FINTECH AND USER-FRIENDLY EXPERIENCE AT ITS CORE. Its major shareholder is Chunghwa Telecom (41.9%), and other shareholders include Mega Financial Holdings, KGI Financial Holdings, Shin Kong Group and Baoya Supermarket, demonstrating its strong background in local corporate support. NEXT BANK IS A PRIVATELY HELD, NON-STATE-OWNED BANK, AND PUBLIC INFORMATION DOES NOT SPECIFY WHETHER IT IS LISTED ON THE TAIWAN STOCK EXCHANGE. The bank is regulated by the FSC in Taiwan and follows the Banking Act and related regulations to ensure transparency and compliance in its operations. There have been no major violations or fines in its recent compliance record, demonstrating its robust performance in risk management and compliance.
scope of services
will be as a pure online bank, focusing on online financial services, without physical branches, and covering the whole territory of Taiwan. The bank offers deposits, debit cards, loans and an innovative "N points" points program through mobile apps and online banking platforms to meet the needs of the digital banking community. DUE TO ITS PURELY DIGITAL OPERATING MODEL, NEXT BANK DOES NOT PROVIDE PHYSICAL ATM DISTRIBUTION INFORMATION AND MAY NOT RELY ON TRADITIONAL ATM NETWORKS. Through the cooperation with Chunghwa Telecom, the bank combines the advantages of telecom and fintech to provide customers with a seamless digital financial experience. While the current service is mainly focused on Taiwan, its technology platform supports future expansion into regional markets.
Regulation & ComplianceIn
the future, the bank will be regulated by the Financial Supervisory Commission (FSC) of Taiwan and is one of the first banks in Taiwan to be licensed to operate solely in online banking, demonstrating that it meets strict regulatory standards. TAIWAN'S COMMERCIAL BANKS USUALLY PARTICIPATE IN THE DEPOSIT INSURANCE PROGRAM OF THE CENTRAL DEPOSIT INSURANCE COMPANY (CDIC), WHICH PROTECTS A SINGLE DEPOSITOR UP TO NT$3 MILLION (ABOUT US$90,000), BUT THE SPECIFIC PARTICIPATION OF NEXT BANK IS NOT SPECIFIED IN PUBLIC INFORMATION. Recent compliance records show that the bank has not been involved in any major breaches or fines, reflecting its solid performance in risk management and internal controls. NEXT BANK is also actively involved in FSC's "Bank 3.0" initiative to promote digital financial services in line with regulators' requirements for innovation and customer protection.
FINANCIAL HEALTH,
AS A NEWLY ESTABLISHED PURE ONLINE BANK, NEXT BANK'S FINANCIAL HEALTH INDICATORS (SUCH AS CORE TIER 1 capital adequacy ratio, non-performing loan ratio, and liquidity coverage ratio) are not disclosed in public information. The bank was launched in January 2022 with an initial capital of about NT$10 billion (US$332 million), backed by capital injections from Chunghwa Telecom and other shareholders. Here's an overview of the key financial metrics:
Core Tier 1 Capital Adequacy Ratio (CET1): Undisclosed, expected to meet FSC minimum requirements (above 8%)
Non-performing loan ratio (NPL): Undisclosed, expected to be lower as new banks tend to have better asset quality
LIQUIDITY COVERAGE RATIO (LCR): UNDISCLOSED, EXPECTED TO MEET REGULATORY REQUIREMENTSTOTAL
ASSETS: UNDISCLOSED, MARKET RANKING
UNKNOWNDESPITE THE LACK OF SPECIFIC DATA, NEXT BANK, AS A REGULATED DIGITAL BANK, SHOULD MEET THE FSC'S STRICT STANDARDS AND HAVE A CERTAIN DEGREE OF RISK RESILIENCE.
Deposit & Loan
ProductsDeposits:
NEXT BANK offers demand deposits and time deposit products. With an interest rate of 0.8%, the demand deposit is highly flexible and suitable for day-to-day money management. Fixed deposits support a variety of tenors, with an interest rate of 1.2% for half a year and 1.5% for one year. Details of featured products such as high-yield savings accounts or CDs are not publicly available, but banks may offer similar products to attract customers.
Loans:
NEXT BANK provides loan services, but the interest rates and thresholds of specific products (such as housing loans, car loans, and personal credit loans) are not disclosed in public information. Loan approval is expected to be done through an online platform with a focus on speed and convenience, and may support flexible repayment options, such as no penalty for early repayment, subject to further confirmation.
Features:
NEXT BANK cooperates with Visa to issue debit cards, providing 1% "N points" cash rebate on purchases, which is equivalent to NT$1 per 1 point, which can be used for debit card-related services. This points program provides additional value to customers and enhances their market appeal.
LIST OF COMMON FEES
: NEXT BANK'S FEE STRUCTURE IS NOT DISCLOSED IN DETAIL IN PUBLIC INFORMATION. As a pure online bank, banks may attract customers by offering low fees or waiving some of them. The following is the estimated fee:
account management fee (monthly/annual fee): may be waived or lower, please refer to the official website to confirm the
transfer fee (domestic/cross-border): domestic transfer is expected to be free, cross-border transfer fee is about 20-40 US dollars, please refer to the agreement for details
Overdraft fee, ATM inter-bank withdrawal fee: Since there is no physical ATM, inter-bank withdrawal fee may not apply; Overdraft fee information unknown
hidden fee reminder (such as minimum balance limit): There may be a minimum balance requirement, and the specific terms need to be checked through the official website of the Bank of the Future to experience
the digital service experience
APP and online banking
: NEXT BANK'S DIGITAL SERVICES ARE AVAILABLE THROUGH ITS MOBILE APP, THE FUTURE BANK APP, WHICH ALLOWS CUSTOMERS TO OPEN AN ACCOUNT ONLINE IN LESS THAN 3 MINUTES AND CHOOSE A PERSONALIZED ACCOUNT NUMBER. The app supports features such as facial recognition login, real-time transfers, bill management, and integration with investment tools. User ratings (e.g., App Store/Google Play) are not disclosed, but as an emerging digital bank, its interface design and user experience are expected to be popular with younger customers.
Technological innovation:
NEXT BANK partnered with Temenos to adopt a cloud-native core banking platform that supports rapid time-to-market and efficient scaling. Banks may support AI-powered customer service chatbots, robo-advisors, and open banking APIs, but the specific features need to be further confirmed. Its digital transformation is in line with Taiwan's "Bank 3.0" trend and demonstrates the forward-looking nature of technological innovation.
Customer Service QualityNEXT
BANK provides a 24-hour customer service hotline (+886-2-7718-8866), which supports Chinese and may provide English services to meet cross-border customer needs. Customers can get help via live chat, social media (e.g., Platform X), or official website feedback channels. Information on complaint handling efficiency, average resolution time, and user satisfaction is not disclosed, but as a digital bank, its customer service is expected to focus on rapid response and digital support. USER FEEDBACK ON PLATFORM X SHOWS THAT NEXT BANK HAS RECEIVED POSITIVE REVIEWS FOR ITS INNOVATIVE SERVICES.
SECURITY MEASURESNEXT
BANK'S DEPOSITS MAY BE PROTECTED BY THE TAIWAN CENTRAL DEPOSIT INSURANCE CORPORATION (CDIC) WITH A MAXIMUM PROTECTION AMOUNT OF NT$3 MILLION, BUT THE DETAILS OF PARTICIPATION ARE NOT CLEAR. Banks are expected to use technologies such as real-time transaction monitoring and multi-factor authentication (e.g., facial recognition) to prevent fraud. In terms of data security, NEXT BANK complies with Taiwan's Personal Data Protection Act, but information on whether it is ISO 27001 certified or in the event of a data breach is not provided. As an emerging digital bank, its security standards should be in line with industry standards.
SPECIAL SERVICES AND DIFFERENTIATIONNEXT
BANK HAS LAUNCHED INNOVATIVE SERVICES FOR YOUNG DIGITAL USERS, SUCH AS THE "N POINTS" POINTS PROGRAM, TO ENHANCE CUSTOMER STICKINESS THROUGH CONSUMPTION REBATES. Banks may offer fee-free accounts to attract students or young customers, but the specific products (e.g., senior wealth management or green finance products) are not disclosed. In terms of green finance, banks may support ESG investments, but details are unknown. The threshold for high-net-worth services and private banking is not clear, and customized financial solutions may be provided to meet the needs of high-end customers.
Market Position & HonorNEXT
BANK is one of the first pure online banks in Taiwan, launched in January 2022, with the goal of attracting 100,000 customers within two months, 500,000 by the end of the year, and 1 million within two years. Banks are emerging in Taiwan's digital banking market, but have not yet entered the global or domestic asset size rankings (e.g., "Global Top 50 Banks"). Although no specific award information is available, the partnership with Temenos and the rapid market attention show its potential in the fintech space. Here's an overview of the market target:
Short-term goal: 100,000 customers in 2
monthsMedium-term goal: 500,000 customers by the end of 2022Long-term
goal: 1 million customers in 2 years
