SinoPac Bank Upgrades Corporate Finance Platform to Address Sustainability Pain Points

(CNA, Taipei, May 21, by reporter Lu Yen-tzu) To solve the pain points for small and medium-sized enterprises (SMEs) and startups in aligning with sustainability, SinoPac Bank announced today the upgrade of its "DA BOSS Ecosystem Platform." The move aims to deepen corporate financial services and involves collaboration with carbon credit experts and greenhouse gas inventory verifiers to help businesses prepare in advance. In 2024, SinoPac Bank originally launched the DA BOSS platform, exclusively for SMEs and startups, integrating services such as finance, sales channels, logistics, HR management, cash flow management, advertising, and consulting to help businesses reduce operational costs. To further enhance its services, SinoPac Bank held a press conference today to launch the "DA BOSS Corporate Membership" and upgrade the "DA BOSS Ecosystem Platform." In addition to providing fee waivers for withdrawals and transfers, the platform will also assist businesses in meeting international carbon reduction standards and joining global supply chains. SinoPac Bank Chairman Tsao Wei-shih stated that, according to statistics, Taiwan has over 1.71 million SMEs, employing 80% of the workforce and representing the lifeblood of Taiwan's economy. He recalled that when the bank planned to launch the platform a few years ago, there was significant internal opposition, with questions like, "Will this be profitable?" However, he believes a bank should not operate solely for profit but should also contribute to the national economy. Tsao observed that SMEs and startups often face shortages of manpower and resources. He hopes the platform can help connect them with resources and contacts such as supply chains and partners, enabling them to quickly bring their products and ideas to market. He also noted that sustainability has shifted from an "option" to a "necessity" in recent years. Businesses must consider issues like carbon emissions, sustainable packaging, and using ERP (Enterprise Resource Planning) systems for energy saving and carbon reduction. If SMEs prepare early and incorporate a sustainability mindset into their operations, they will progress faster and more smoothly in the future. According to SinoPac Bank's statistics, new preparatory office accounts under the platform increased by 17% year-over-year last year, and the market share of these accounts converting to corporate accounts grew by 14% year-over-year. Tsao ambitiously stated that while the bank's SME lending has maintained a growth momentum of 5% to 10% in recent years, he hopes the platform's services will drive it to a double-digit growth target. Additionally, regarding the merger progress with King's Town Bank, Tsao explained that communication is smooth due to similar corporate cultures, and the process will proceed peacefully, with the merger expected to be completed around the end of this year.