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16 Major Banks in Taiwan Build AI-Based Financial Model to Reduce Global Dependence

Sixteen major banks in Taiwan are reportedly collaborating to develop artificial intelligence models specifically for the financial sector.
This initiative aims to reduce reliance on global AI platforms, which are considered not fully aligned with local regulatory requirements and market conditions.
By building their own systems, these banks can tailor AI models to fit domestic legal frameworks and the characteristics of Taiwanese customers.
This move also reflects concerns over the use of foreign technology in sensitive financial sectors.
Local AI models are expected to improve risk analysis accuracy, regulatory compliance, and operational efficiency.
Additionally, this approach provides greater control over data and system security.
Cross-bank collaboration also demonstrates a collective effort to face digital transformation in the financial industry.
As AI becomes increasingly important in financial services, developing internal technology is a strategy to maintain competitiveness.