The Asia Responsible Enterprise Awards (AREA) 2023 is pleased to honor 78 outstanding business leaders and enterprises for championing sustainable and responsible business practices. Presented by leading regional NGO Enterprise Asia, the AREA is the most reputable award recognition program recognizing organizational efforts in creating a culture of compassion, integrity, and in being socially responsible corporate citizens. The AREA serves as a badge of excellence to spur further innovation and best-practice sharing for your organization and the world at large.
Taiwan Depository & Clearing Corporation (TDCC) was among the recipients who were conferred with the Green Leadership Award. As a Financial Market Infrastructure (FMI), TDCC offers dematerialized registration, central security depositories, book-entry transfer, and settlement mechanisms for diversified financial products, such as equities, fixed-income securities, futures, mutual funds, etc., and other value-added services.
The paper passbook has been used by financial institutions to record transactions and as an identification tool. However, as digital trends grow, TDCC launched the ePassbook App in 2017 to replace physical passbooks with electronic security passbooks. This offers a more convenient way to carry and manage assets while reducing costs and carbon emissions. The application’s 2.0 version, released in 2018, adds more functions, such as linking to shareholders, e-voting, and fund Information.
In 2021, the company became a third-party service provider of open banking, a provider for investors to access their bank account balances and transaction details by collaborating with banks. TDCC combined its existing asset integration services under one application, creating a diversified platform.
The ePassbook App focuses on the digitization of secure accounts and aims to reduce the negative impact of business activities on the environment. The application provides various financial services, deepening the relationship of its company with society and contributing to global sustainable development.
The launch of the ePassbook App in 2017 has provided more convenient digital services for investors. As of August 15, 2023, the total number of effective accounts and cumulative users has over 4.1 million and is continuously increasing. The application also integrates users’ bank assets through the mechanism of open banking. There are 16 partner banks covering over 90% of the deposit balance of the top 20 banks in Taiwan, with over 400,000 users and an average monthly API sending volume of 1.7 million times.
Besides that, this project has saved TDCC a total of 5.03 million paper security deposit books, reducing the need for over 30 million sheets of paper. It has also reduced over 1,000 working hours for employees of the company and security firms, and reduced physical deposit book delivery distance by over 1.25 million kilometers. In total, it has saved over NTD40 million in market-related operation costs and reduced carbon emissions by over 4,600 tons, effectively reducing the negative impact of the company’s business activities on the environment.
To improve the service quality and customer experience of the ePassbook App, TDCC is also promoting an electronic notification service for shareholder affairs (eNotice) and plans to develop more related functions. Investors will be able to view their dividends and allotments in a visual way and receive push notifications through the application. In the future, TDCC will continue to improve the functionality of the ePassbook App to provide investors with better services.
About Enterprise Asia
Enterprise Asia is a non-governmental organization in pursuit of creating an Asia that is rich in entrepreneurship as an engine toward sustainable and progressive economic and social development within a world of economic equality. Its two pillars of existence are investment in people and responsible entrepreneurship. Enterprise Asia works with governments, NGOs and other organizations to promote competitiveness and entrepreneurial development, in uplifting the economic status of people across Asia and in ensuring a legacy of hope, innovation and courage for the future generation. Please visit https://www.enterpriseasia.org/ for more information.
About Asia Responsible Enterprise Awards (AREA)
The Asia Responsible Enterprise Awards program recognizes and honors Asian businesses for championing sustainable and responsible entrepreneurship in the categories of Green Leadership, Investment in People, Health Promotion, Social Empowerment, Corporate Governance, Circular Economy Leadership, Corporate Sustainability Reporting, and Responsible Business Leadership. For more information, visit: https://enterpriseasia.org/area/.
