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UPDATE 1-Taiwan issues island's first virtual bank licences [Reuters (UK)]

Chunghwa Telecom Co., Ltd. (CHT) 
US:NYSE Investor Relations: cht.com.tw/en/ir/stockit-earningsit.html
Company Research Source: Reuters
Taiwan issues island's first virtual bank licences - Reuters 2 Min Read TAIPEI (Reuters) - Taiwan issued its first virtual banking licences to three consortiums consisting of Taiwan and Japanese investors, its financial authorities said on Tuesday, following moves by regulators in other Asian markets to issue such licences. Asia’s internet firms are challenging the region’s traditional banks for consumer finances, hoping to increase competition and drive innovation in their markets, while non-banking companies are keen to challenge traditional banks by leveraging their technology and user databases. The island’s Financial Supervisory Commission said the digital banking licences were granted to LINE Financial Taiwan, which was led by Japanese app operator LINE Group, and Next Commercial Bank, led by Taiwan telecom operator Chunghwa Telecom. Another licence was granted to Rakuten International Commercial Bank, which was operated by Japanese e-commerce firm Rakuten Inc and Taiwan’s IBF F Show less Read more
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