CDF offering clients online financial services amid coronavirus (COVID-19) outbreak

Feb 11, 2020
Press Release

Amid the novel coronavirus (officially known as COVID-19) outbreak, China Development Financial (hereinafter referred to as CDF; TWSE: 2883) said today that CDF Group, including KGI Bank, KGI Securities and China Life, have all provided clients with various digital financial services such as online loan application, investment/trading order placement and customer-caring measures for the insured. China Life, in particular, leads the pack to offer its insured frontline medical professionals consolation money of NT$50,000 or a doubled daily hospitalization allowance (whichever is higher) if they are diagnosed with COVID-19 while treating patients at medical facilities.

KGI Bank says that demand for its online “Personalized Currency Rate Alert” and “Digital Loans” are growing. The former allows customers to preset desired exchange rates for thirteen currencies. Once a desired exchange rate is reached, customers will be notified through real-time APP feeds and email sent from the banking system. In order to overcome time zone difference, customers can call the service center in advance to set the desired exchange rate. When the rate is reached, the trading can be completed anytime,  anywhere.

As the back-to-school season approaches, customers who are in need of education expenses for children can apply online for a personal loan via their cellphone number on condition they are Chunghwa Telecom customers who have used the cellphone for six months with payments being current. It takes just three minutes on average to complete the application procedure. Upon receipt of the bank’s notification by email, the applicant can agree to sign the loan agreement online, immediately obtaining details such as the loan amount and preferential interest rates without having to visit the bank’s premises in person for identity verification and drawdown.

KGI Bank has also recently allied with LINE to launch a new version of its payment account, allowing customers to pay water bills or make donations through LINE as long as they hold credit cards issued by the 29 designated banks. All bills can be preset for automatic notification. As such, customers can pay bills anytime, anywhere.

KGI Securities is a pioneer in rolling out LINE personalized wealth management services, providing trading reminders for Taiwanese stocks, mutual funds and foreign stocks. For Taiwanese stocks, customers can input stock tickers via LINE to check the K line and quotes. The platform can rapidly link to the online trading system to provide seamless transaction.

KGI Securities’ online trading platform provides customers with information to adjust asset allocations, allowing timely optimization of investment portfolios to meet their needs and wealth management goals. Other online financial services include stock loans, featuring fast approval and fast disbursement online, all-purpose loans, securities lending trust and depository securities lending.

China Life offers a consolation sum of NT$50,000 or a doubled daily hospitalization allowance (whichever is higher) to insured medical professionals immediately after they are diagnosed with COVID-19 due to undertaking COVID-19-prevention tasks or treating patients at medical facilities. In addition, China Life has taken seven customer-care measures: “Claim Relaxation”, “Fast Claim”, “Advance Payment for Hospitalization”, “Travel Insurance Adjustment”, “One-Stop Customer Services”, “Grace Period for Premium Payment” and “Mortgage Rescue.” More information can be found at

Due to the COVID-19 epidemic, consumers may change travel plans. China Life provides a travel insurance adjustment service. If a customer postpones or cancels travel plans due to the epidemic, he/ she can, within ten days of the start day of the epidemic impact, apply for cancellation of or an extension to the travel insurance contract. A one-stop customer service toll-free number 0800-098-889 has been established for cancellation of contract, policy loan, maturity payment, principal repayment and annuity payment services.

Considering the epidemic outbreak, CDF encourages consumers to use digital financial services at home. The CDF Group has also set up an infrared body temperature detector at the entrance of its Taipei headquarters building as a precaution against COVID-19, which allows control over access to the building if employees, visitors or delivery people show a fever. In addition, employees are regulated to use conference calls, video conferencing or emails to replace recent business travel to China. 

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