Taiwan Depository & Clearing Corporation

To enhance convenience for investors, Taiwan Depository & Clearing Corporation (TDCC) announced that, starting June 29, it will partner with Taiwan Clearing House (TCH) to expand its mutual fund payment authorization services. Going forward, investors who open accounts and set up payment authorization online through fund transaction platforms such as FundRich will be able to choose from 26 banks for debiting payments, double the current number of 13, significantly improving the efficiency of digital mutual fund investment services.

In the past, when investors opened mutual fund accounts online, they often encountered difficulties if their banks did not support online payment authorization through internet banking, or if the process required IC ATM Card authentication, making the experience less convenient. As a result, many investors had to resort to mailing paper authorization forms, which was time-consuming and cumbersome. To address these pain points, TDCC has continued to optimize back-office fund payment operations. Through its collaboration with TCH, TDCC is broadening the scope of mutual fund payment authorization services and offering investors more convenient, diversified, and efficient authorization options.

TDCC President Daniel Chen noted that, as part of its efforts to enhance the convenience of digital financial services, TDCC has further integrated electronic direct debit authorization (eDDA) services. Newly supported banks for online payment authorization include CTBC Bank, Cathay United Bank, E.SUN Bank, Bank SinoPac, Shanghai Commercial & Savings Bank, KGI Bank, and Bank of Taiwan, among others. In addition to providing investors with a wider selection of banks, another highlight of this service upgrade is that the mobile apps of E.SUN Bank and KGI Bank will allow investors to complete identity verification and payment authorization with just one tap, delivering a smoother digital experience.

Following the launch of the new mutual fund payment authorization service, fund distributors including FundRich, Anuefund, Ezfunds, FundSwap, SinoAm SITE, Nomura Asset Management Taiwan, and PineBridge Investments Taiwan will also adjust their systems and gradually introduce the service.

TDCC stated that by connecting with more banks and mobile applications, the service will substantially shorten the time required for investors to complete payment authorization. Looking ahead, TDCC will continue to work with financial industry partners to build an automated back-office operating environment for mutual funds, providing more efficient, flexible, and accessible digital financial services while advancing financial inclusion.