Web bank offers new rate packagesBUILDING BASE: To mark its one-month anniversary, Rakuten Bank is offering a 50% discount on personal loans and 0.55% interest for a CPBL-linked 66-day fixed depositBy Kao Shih-ching / Staff reporterRakuten International Commercial Bank Co (樂天國際商銀), the nation’s first Web-only bank, aims to attract new clients by offering more attractive lending and deposit rates, but is cautious about funding young borrowers without credit records, the bank said yesterday. The virtual bank allows customers to open accounts and file for loan applications via its mobile app. Rakuten International Commercial Bank chairman Chien Ming-ren, left, and chief executive officer Kazuhiko Saiki show their bank’s app at an event in Taipei yesterday. Photo: Kao Shih-ching, Taipei TimesPeople aged 30 to 50 were the bank’s major group of customers in the past one month, Rakuten Bank chief executive officer Kazuhiko Saiki said. Asked how the bank assesses lending risks and sets interest rates for new customers, Saiki said it has built a model to calculate risks, with factors including age, assets and income.

Source: Taipei Times February 22, 2021 15:56 UTC