CDF Unveils FinTech Applications through CCIA Ecosystem for 2020 Asian Youth Forum Participants

Sep 30, 2020
Press Release

China Development Financial Holding Corporation (“CDF”, TWSE: 2883) sponsored “Asian Youth Forum” to advance financial inclusion awareness among young people this year. The forum engaged nearly one hundred students in a discovery of the many digital innovations rolled out  by CDF Group, including KGI Bank, KGI Securities, China Life and CDIB Capital Group, where values of financial inclusion are embodied in business practice and across all sorts of financial services. Advocacy for financial inclusion and creating access is at the heart of the mandate for pursuing FinTech innovations, said Richard Chang, spokesperson of CDF group, who implores young adults with financial industry aspirations to join the advocates for broadening the reach of FinTech services, and use their best endeavors to achieve financial inclusion by minimizing hurdles barring underprivileged communities and micro enterprises from accessing much-needed services.

Asian Youth Forum is a collaborative project by Fair Winds Foundation and the Leadership Program of National Tsing Hua University, curated for university students of diverse nationalities, such as Taiwan, the US, and Vietnam. During the forum, CDF set the stage by introducing the audience to the CDIB Capital Innovation Accelerator (CCIA) to showcase how CCIA serves as an incubator for start-ups and taps into resources through its ecosystem. To introduce more substance to the context, CCIA invited start-up founders to share first-hand experiences as established entrepreneurs in the FinTech space.

Joanna Yang, a believer of reciprocity as the foundation of crowd-based financing, is the creator of LnB, known as Lend & Borrow, an online peer-to-peer (P2P) lending platform serving the common cause of mutually beneficial value creation and exchange.

Alex Liu is founder and CEO of cryptocurrency trading exchange MaiCoin Group. He is looking to tap into the space of green economy where he’s particularly interested in applying his expertise in innovative financial instruments, such as security token offering (STO), to the carbon credit trading market, which he believes can provide invaluable solutions that benefit investors, corporate sustainability, and the environment.

As a provider of inclusive financial services, CDF is committed to implementing ESG (environment, society, governance) mandates. The group identifies and sets out to solve the “pain points” arising from traditional financial services. KGI Bank offers a diverse and innovative range of services, and extensive access to demographics who are typically denied services at conventional banking channels, and lack the resources to pursue their dreams.

For instance, KGI Bank took the lead in rolling out innovative financial services through “Open API,” where it was able to establish partnerships with a diversity of value-added online service providers, such as LINE, MoneyBook, and Pi Mobile, creating scenarios that bring financial services into everyday life.

While China Life realigns its product strategy to adapt to shifting market dynamics, the government's financial inclusion policy, an aging population coupled with low birth rates, creating options that will hopefully meet the diverse needs of policyholders, particularly for individuals of disadvantaged communities and special-needs groups.

KGI Securities ensures customers with disabilities full access to basic, equal and reasonable financial services. CCIA, part of CDIB Capital Group, builds a one-stop ecosystem for startups, with access to capital, industry connections and resources required for growth, including mentorship, corporate-matching events, and all sorts of workshops.

CDF has been dedicated to linking its businesses with social cause, which explains its presence at the Asian Youth Forum. CDF also has a medium/long-term strategy over a span of three to five years to promote commercial initiatives while advocating equality in education. For over a decade, CDF has extended support to students from rural areas and disadvantaged groups through community investment. By increasing the depth and breadth of involvement, CDF aims to have positive and long-term impact, further maximizing social return on investment. Besides, CDF Foundation, along with KGI Charity Foundation will continue to jointly achieve the SDGs mandates (United Nations’ Sustainable Development Goals), including poverty eradication, zero hunger, good health and well-being, quality education, decent work and economic growth, reduced inequalities, peace, justice, and strong institutions, and partnerships for the goals.