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In response to the high demand for retirement planning in Taiwan's aging society, First Bank launched the "e-First smart wealth management" service in October 2020. The iLEO app was downloaded over 234,000 times in 2020 which was a 117% increase from 2019. More than 570,000 iLEO Digital Accounts have been opened since its launch and First Bank ranked fourth among domestic banks in 2021 Q1 in terms of the number of new digital accounts. For instance, the online loan platform "iLEO Bucket of Gold" provides rapid year-round online credit loan applications and drawdown services for loans from NT$30,000 to NT$3,000,000 to continue to enhance services and broaden the product range. It also created innovative functions such as horoscope investment, credit loan, and dream come true account for iLEO's digital account customers. ILEO launched the innovative patented swipe transfer function and the popular brand-new interface.
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First Bank became the first bank to offer a full range of online account opening services for adults, minors and sole proprietors. To expand the use of iLEO digital accounts, First Bank launched the "iLEO Sole Proprietorship Digital Account" to provide busy sole proprietors with a more convenient way to open accounts and support the development of micro and small businesses. The account opening can be completed after the legal representative completes identity verification. Applications are not confined by time or space and parents are only required to help their minor children enter the application information online. To increase the penetration rate of young customers, the Bank officially allowed minors above the age of 7 with ID cards to apply for account opening online starting from 2020.
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Customers are only required to complete the online account opening application and download the exclusive "iLEO app" to gain access to a comprehensive digital financial account with multiple functions such as NTD and foreign currency deposits, funds and wealth management, and credit card services. The average age of current users is 36, with women accounting for 57% of the total. In terms of customer base composition, office workers between the ages of 20 and 44 account for the largest share. The account target digital natives.įirst Bank leads digital trends and attracts new customers. Optimize service procedures on digital channelsįirst Bank independently developed the "iLEO Digital Account" which upholds the core values of "simplicity, innovation, and thoughtfulness".
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