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Last update:2021/07/20

Operations

Taiwan Financial Holdings
​​1.2021 Business Plan

(1)Integrate resources, deepen cooperation

Continue improving the strategy of integrating TFH Group resources; expand product research and development as well as cooperation among Group subsidiaries in sales and marketing; increase the added value of products and channel resources, and spur sales growth and better performance; continue promoting the groupwide shared information operations platform; expand the scope of integration of back office operations; and reap the benefits of complementarity and cost reductions.

(2)Develop forward-looking financial services

Cooperate with the administration's smart government policies and FinTech Development Roadmap; use the InnoLab to integrate forces pushing innovation, build up big data resources and promote open banking; further adopt MyData services; expand the intelligent customer service system; develop intelligent financial services that are diverse and convenient; and create a customer-centered financial service experience.

(3)Improve information security governance

Pursue financial innovation while paying due attention to cybersecurity, closely monitor financial cybersecurity conditions as well as supervisory and legislative developments; review compliance with the Group's guidelines for cybersecurity strategies, management systems, and defense technologies; oversee efforts by Group subsidiaries to improve the collection of cyber intelligence and strengthen cyberdefense mechanisms; assist with the building up of the financial cyber security joint defense system; and strengthen the Group's financial cyberdefense capabilities as well as its cyber incident preparedness.

(4)Cultivate diverse talent

Meet the needs of the digital finance age for talent cultivation and cooperation among Group subsidiaries; use the Group's educational resources as well as its employee exchange and training mechanisms; discover and build up a pool of multi-disciplinary talent capable of carrying out financial management and utilizing digital technologies; and encourage employees to study a diverse range of financial specialties so that they will have the necessary professional expertise to advance with the times.

(5)Strengthen asset allocation management

Institute a stronger mechanism for management of capital allocations; make good use of funds utilization platform meetings; benefit from the sharing of investment research resources; flexibly adjust investment portfolios and optimize positions, act in a timely manner to review earnings logic and trading strategies; and strengthen asset allocation management.

(6)Improve internal control and internal audit systems

Implement risk-based internal auditing; oversee efforts to derive greater benefits from the three lines of defense in internal controls, and spur the exercise of sound internal controls and internal audits; continue to strengthen and improve legal compliance systems as well as the management framework; and oversee efforts by Group subsidiaries to strengthen capital adequacy management, and obtain better benefits from group-wide integrated risk management.

(7)Promote the development of sustainable finance

Comply with the "Corporate Governance 3.0 – Sustainable Development Roadmap" and the competent authority's laws and regulations, deepening a corporate culture of sustainable governance; promote investment in and financing of green and sustainable industry; guide customers to an appreciation of the importance of environmental, social, and governance (ESG) issues; incorporate corporate social responsibility into management policies; put financial expertise to work in support of community service; provide a diverse range of financial products and services; engage in community service work, and promote enterprises' commitment to sustainable development.


​​2.Short-term and Long-term Business Development Plans

(1)Short-term business development plan

Take the following actions in support of government policy: help fight and confront the Covid-19 pandemic, provide economic stimulus, and ensure the availability of relief; strengthen investments in Taiwan and promote investment and financing businesses; develop international financial markets and derive more benefit from overseas business locations; integrate TFH Group resources to reap enhanced business synergies; overhaul the company's philosophy of finance to develop prospection-oriented services; implement internal controls and legal compliance, and uphold universal values; work for an appropriate balance between risks and returns to ensure high asset quality; and concurrently pursue both recruitment and development to cultivate outstanding manpower.

(2)​ Long-term business development plan

​Act in line with 5P (People-centered, Portfolio-sound, Performance-driven, Prospection-oriented and Principle-based) business operating policy and 5S (Scale, Scope, Soundness, Superior Management and Social Responsibility) competitive strategies, accurately identify trends and the direction of government policy; reap the benefits of synergy, further integrate group resources, continue pursuing financial innovation, improve cyber resilience, adopt a risk-focused mentality, strengthen cooperation among the lines of defense in internal control, comply with the Corporate Governance Roadmap, pursue a more sustainable type of corporate development, and build up TFH as the nation's flagship financial holding company.
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3. Cross-Selling

(1)Cross-selling synergies

Further integrate group resources, develop integrated products and services, improve the mechanism for resource sharing and joint business development, make effective use of the highly developed channel resources and high-quality client base of the Group's core banking subsidiary to spur diversification of the business conducted by the Group's life insurance and securities subsidiaries; continue promoting the Plan for Integrated Marketing Among Group Subsidiaries, use a target management system to monitor its implementation, and complement this with a performance evaluation mechanism and jointly implemented incentive measures to strengthen cooperation among group subsidiaries. The Plan for Integrated Marketing among Group Subsidiaries continued covering six principal business lines and carrying out cross-selling of 19 products through integrated marketing. Joint business development efforts by group subsidiaries, and the business results generated thereby, contributed NT$1,774 million to the Group's profits in 2020, thus enabling the Group to reap the benefits of synergy and improving its revenues and profitability.
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(2)Resource integration and cost reductions​​

Effectively integrate and use Group-wide resource, and continue promoting 8 major shared business operations (information operations, education and training, legal affairs, property management, community service promotions, purchasing operations, financial and economic information exchange, and human resource exchange). Our logistics platform reduced measurable operating costs over the course of the year by NT$93.5 million, thus reducing operating costs by tapping into group synergies.​