Citibank Taiwan has announced its intention to launch new technology to allow customers to apply for first-time credit cards online using MOICA certificates.
Taiwanese Citizen Digital Certificate (MOICA certificates) holders are being used as a form of identification for Citibank Taiwan customers to apply for credit cards online, shortening the application time to around six minutes.
MOICA certificate holders have now exceeded 5.5 million across Taiwan and its neighbouring nations, reflecting the potential of the new offering. Chinese citizens with a MOICA certificate would also be able to able to file income tax returns, check insurance information and store e-invoices in a private account set up by the Ministry of Finance.
Citi Taiwan would become the first bank to allow online application for credit card users, which would not include having to sign or submit any paper content. Citi Taiwan business manager of global consumer banking, Yunny Lee, said: “Citi is committed to fintech development.”
“We strive to strengthen the capacity of our digital operations and balance information security and customer satisfaction simultaneously.”
Current cardholders had been eligible to apply for additional credit cards online from early 2016, which had accounted for close to half of Citi Taiwan’s online banking services in Q1.