1. Services
The corporate e-banking site of Bank of Taiwan offers a unitary entry for companies. The site has strict security control scheme, processing and transmitting all data encrypted. Simply through the Internet, the company can quickly obtain all cash flow services offered by the Bank, including bank account management (similar functions to Internet banking for corporations), XML asset management (similar functions to EDI services under Web structure), corporate on-line foreign exchange services, electronic account management, simple financing for suppliers, purchase of account receivables, electronic bills, and electronic bid bond, etc. That is, once logged in, the authorized corporate users can use the e-banking service to manage account, allocate fund, financing, open L/C and remit payment. For the purpose of internal control, companies can apply for multiple users with different levels of authorization. The system will randomly generate a set of passwords to every new user. Based on their authorized rights, different corporate users can access different levels of functions, such as inquiry, establishing archives, approval, and passage, etc.
2. Target Customers
The system is designed to meet the requirements of large, middle and small sized enterprises. Companies can choose the relative functions based on their specific requirements and degree of electronization. No matter whether it is complicated supply chain information system inter-connection or simple manual on-line operation, all customers will enjoy the heartful services offered by the Bank. The corporate e-banking site provides low-cost, fast, and secure services, which are very suitable for the needs of all types of enterprises or traditional industries. The e-banking also paves the way for the success of e-corporation in the future.
3. System Structure
The corporate e-banking site offers full-scale e-cash flow services to the companies, assists the companies to establish a set of complete and highly efficient operational system, and will achieve the winning situation for all four parties of the transaction, including company headquarters, customer, supplier, and the Bank. Besides saving money and time, improving financial efficiency, and achieving a high level of electronization, the e-banking site will help the company to connect with the international e-commerce environment and improve corporate competitiveness. The corporate e-banking site has the following functions:
(1) Bank account management: provide e-banking functions to the Bank’s corporate customers, such as account transfer/repayment (for contracted users), transfer and payment of taxes and fees, inquiry of foreign exchanges, public bonds, interest rates, exchange rates, and fund, etc.
(2) XML asset management: based on their internal control requirements, customers can arrange the account transfer procedure with the Bank, such as editing, approval, and passage, etc. Through the corporate e-banking site, customers can proceed with capital allocation, payment and account inquiries, etc.
(3) Corporate on-line foreign exchange services: provide on-line services of applying for opening overseas L/C, remittance in and out, export negotiations, D/A and D/P import collections, etc., fulfilling the corporate requirement for foreign exchange services.
(4) Domestic electronic L/C: in cooperation with China Steel, the Bank issued the first “domestic electronic L/C” on May 18, 2004. Since then, a new era of paperless L/C has started, offering the benefits of shortened purchasing procedure, and enhanced logistics and cash flow efficiency between suppliers and their customers.
(5) Consolidated services of electronic account: the Bank establishes specialized electronic account management platform for each company, providing account payables, account receivables, notes payables, and salary transfer management. The company’s upper-stream suppliers or lower-stream buyers can also log into the site to inquire about payment details. The service eliminates the complicated account operations for the companies, such as opening invoice, affixing seal, notifying, mailing, answering inquiries, exchanging, write-offs, and receiving or paying out money, etc. The benefits achieved include simplified account processing, improved efficiency and lowered processing cost.
(6) Simple financing for suppliers: the Bank provides simple on-line accounts receivable financing and notes financing services to suppliers that have received the payment notification or notes payables from well-performed customers,
(7) Purchase of accounts receivables: through corporate e-banking site, the Bank offers account management and accounts receivables collection services to companies that sell the products or provide labor services. When the company has financing requirement, the Bank can provide fund, or purchase the accounts receivables on non-recourse basis, under with situation the credit risk of the buyer will be undertaken by the Bank.
(8) Electronic bid bond: in cooperation with the “government electronic procurement system” promoted by the Public Construction Commission of the Executive Yuan, the Bank provides customers electronic bid bond services to simplify the related procedure.
(9) Electronic notes and bills: in cooperation with the “electronic check promotion plan” of the Central Bank, the Bank offers customers electronic check services to meet the diversified transaction requirements of the companies.
4. Valuation of the Services
(1) Provide full-scale financial services to companies through a unitary entry site.
(2) Provide comprehensive services of identity confirmation, authorization and security control.
a. Generate a personalized menu for each corporate user.
b. Modify the previous shortcomings of multi-system, multi-account and multi-password.
c. Provide a consistent method of authorization for each sub-system which is convenient for administration.
d. Provide a consistent and user-friendly operational interface.
(3) Benefits to the companies
1. Provide corporate users with full-scale, unitary entry, and one-stop electronic financial services, which help to enhance the corporate competitiveness.
2. The instant Internet processing will significantly reduce the transmission time and cost, and break the barrier of regional distance.
3. Use electronic signature technology for security control to ensure safe transaction.
4. Offer multiple level authorization to meet the customers’ requirement for internal control.
5. Offer simple and user-friendly operational interface.