Taiwan Banking Bureau Unveils Smart Finance Blueprint Focused on AI, Open Banking

Taiwan’s Financial Supervisory Commission is advancing a smart-finance agenda aimed at modernizing banking while making financial services more accessible and inclusive. The Banking Bureau has organized the effort around four policy goals: promoting innovation, deepening inclusion, strengthening consumer protection and improving resilience. The framework matters as banks expand their use of artificial intelligence and data-sharing services while facing closer scrutiny over cybersecurity, algorithmic fairness and customer rights.

Banking Bureau Director-General Cheng-Chang Tong said in a recent forum speech that the FSC is guiding the transition through its guidelines on AI use in the financial industry, the continued rollout of open banking and broader regulatory trials for new business models. The next phase will emphasize practical AI applications and inter-institutional data connectivity, allowing banks to test and scale customer-friendly services while keeping operational, security and fairness risks under control.