TDCC has performed a two-phase optimization of its Online Query System (hereinafter referred to as the system), making it easier for users to apply for online access to their securities account statement, given the policy objective of the Financial Supervisory Commission (FSC) to promote contactless financial services, as well as the latest financial technology (FinTech) trends and COVID-19 safety guidelines.

The phase one optimization enables online access applications via a mobile device, such as iPad or an Android tablet, other than a PC. The optimized system also allows parents to access account information on behalf of their underage children, and heirs to access the account of the decedent. Applicants only need to upload an electronic household registration transcript or inheritance case registration transcript, both available on the website of the Ministry of Interior for verification of legal relationships to complete the application process. The new feature was launched on January 4, 2021, and in that year, the number of online queries made to TDCC increased by more than 500% from 2020.

The phase two optimization provides new options for ID and legal relationship verifications. TDCC is aware of the fact that the majority of people do not have a natural person certificate or trading certificate issued by a securities brokerage. As such, starting November 1, 2021, users may log in the query system via a mobile device that carries TW FidO, a biometric ID verification mechanism certified by the Ministry of Interior. From January 4, 2022, users can also log in via a PC with IC cards issued by 21 local banks.

In order to streamline the application process for parents to access the account information on behalf of their underage children, TDCC undertakes the operations of the National Development Council’s MyData platform, which, upon the authorization of applicants (parents), may request kinship information from the Ministry of Interior to complete the application process. This one-stop service is fast and more convenient, and can save applicants the trouble of applying for e-household registration transcript from the Ministry of Interior and then uploading the transcript to TDCC's database.

TDCC President Han-Chiang Chu said IC bank cards are common in Taiwan, so using them as a new ID verification option in conjunction with the data transfer service of the MyData platform is what TDCC can do to cater to the needs of investors. The optimized query system affords users much more convenience and this contactless service pattern is also in line with the COVID safety guidelines. Investors who want to view their securities account statements are encouraged to apply online.