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In accordance with the Banking Act and its relevant regulations, before providing credit-related information and records to financial institutions for credit investigations, entities must first receive approval from the FSC. Currently, only JCIC is authorised by the FSC to offer such services. Banks typically employ the data provided by JCIC to assess an individual seeking a loan or other form of credit.¹

An entity that does not provide such services does not need FSC approval, but will still be subject to the Personal Data Protection Act (PDPA) regarding the collection and use of personal information.¹

Under Taiwan's Civil Code, any receivable is assignable unless:

• The nature of the receivable does not permit the transfer
• The parties to the loan have agreed that the receivable shall not be transferred
• The receivable, in nature, is not legally attachable ¹

Receivables under loans, subject to (b), above, are generally transferable; however, a bank is subject to stricter rules specifying that, in general, loans that continue to perform cannot be transferred by a bank except for limited exceptions (such as for the purpose of securitisation). As a result, Taiwan does not have an active secondary loan market at the moment.¹

Payment services in Taiwan

Fintech in Taiwan

Fintech in other countries

Notes

1. https://thelawreviews.co.uk/title/the-financial-technology-law-review/taiwan