ITRI recommends use of AI to improve Taiwan’s financial services｜Taiwan News

Taiwan’s Industrial Technology Research Institute and a partnering company on Friday unveiled a white paper recommending innovative ways for Taiwan’s financial institutions to improve the experiences of their clients using high tech. Customer loyalty in Taiwan’s banking industry can be increased. ITRI hopes to change that using AI.

Taiwan’s Industrial Technology Research Institute and a technology consultancy company published a 2024 white paper recommending how to improve the net promoter scores or NPS of Taiwan’s financial institutions using AI technology.

Stephen Su
ITRI senior vice president
For instance, using interactive AI to help with training personnel and smart customer service.

A net promoter score measures customer loyalty by looking at the likelihood they’ll recommend a business. According to the ITRI white paper, the average NPS of several banking services and products in Taiwan are all negative. It’s on average -2.7% for deposits and withdrawals, -5.1% for credit cards, -9.7% for wealth management and -11.7% for life insurance. The negative averages mean that banks in Taiwan still have room for improvement.

Jeff Lin
ITRI vice president
Though the average scores are negative overall, they’re still all very close to becoming positive. But because the scores of leading international institutions are positive, Taiwan’s finance industry has room for improvement.

Jason Chen
beBit TECH CEO
In Taiwan, there are some leading financial institutions that have already adopted the NPS client management metric as an indicator of the quality of their operations. I believe that in the future, as Taiwan embraces the trends for fair access and digital transfomation, the NPS metric will continue to be used and promoted in the financial industry. That way for clients on the other end, they’ll also enjoy a better client experience.

The symposium where ITRI introduced the white paper also had keynote speeches by industry leaders. Over 100 participants from banking, securities and insurance industries attended the event. ITRI is committed to helping Taiwan’s financial institutions improve and undertake digital transformation.

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