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<\/p>\nThe second session, titled \u201cInfrastructure Development and Regulatory Challenges of Emerging Payment Instruments,\u201d was moderated by Deputy Director Chao-Hung Chen of CIEL. The panel featured Kuo-Liang Lin, Chairperson of the Financial Information Service Co.; Quincy Chen, Chief Digital Officer of Cathay United Bank; and Darren Wang, Founder of the OwlTing Group. Drawing on perspectives from financial market infrastructure, banking practice, and startup experience, the panel examined the institutional challenges and future possibilities arising from innovations in payment systems.<\/p>\n
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Founder Wang shared his experience with cross-border stablecoin applications, noting that while stablecoins offer clear advantages in improving the efficiency and immediacy of cross-border remittances, significant challenges remain, including compliance procedures, anti-money laundering (AML) requirements, cross-chain settlement, and fiat currency conversion. Chairperson Lin observed from a financial infrastructure perspective that the evolution of payment instruments is fundamentally a process of continuous digitalization, and that the potential of stablecoins to enhance settlement speed and efficiency represents a trend that existing systems must directly address. From a banking perspective, CDO Chen emphasized that customers place the highest priority on immediacy, stability, and uninterrupted service\u2014particularly in corporate and cross-border financial contexts. While blockchain and stablecoins offer efficiency gains, he noted that their adoption must proceed cautiously within sound risk management and compliance frameworks.<\/p>\n
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The third session, titled \u201cInfrastructure Development and Regulatory Challenges of AI in Finance,\u201d was moderated by Chief Executive Officer Chung-Chia Huang of CIEL. The panel featured Yi-Chun Shih, Deputy Director of the Department of Development and Innovation, Financial Supervisory Commission; Tzu-Hsiung Wang, Director at the Science and Technology Law Institute; and Shih-Ming Lo, Chief Compliance Officer at HSBC Taiwan. The discussion focused on the practical applications of artificial intelligence in finance, as well as the associated regulatory and institutional challenges.<\/p>\n
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During the discussion, CCO Lo noted that financial institutions currently rely primarily on machine learning, which is widely applied to internal process optimization, customer service and wealth management chatbots, as well as AML and fraud prevention. He emphasized that model explainability and continuous validation remain indispensable. Deputy Director Shih explained that AI is also being applied in areas such as credit analysis, underwriting and claims processing, and investment management. However, due to risks associated with generative AI\u2014including hallucinations, inaccuracies, and personal data protection concerns\u2014its current use is largely limited to internal support functions. Regulators have therefore adopted a guidance-first, risk-based supervisory approach. Director Wang highlighted that financial institutions\u2019 heavy reliance on third-party suppliers for AI development may give rise to concentration and single-point-of-failure risks, underscoring the need for institutional design to balance outsourcing management with operational resilience.<\/p>\n
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Discussions in Sessions II and III concluded successfully, with each session focusing on two critical fintech themes\u2014payment innovation and artificial intelligence\u2014while showcasing diverse perspectives from government, industry, and academia on infrastructure development, regulatory flexibility, and risk governance. Building on the valuable insights shared by the panelists, CIEL will continue to advance its research efforts with the aim of contributing concretely to the future development of legal and regulatory frameworks.<\/p>\n","protected":false},"excerpt":{"rendered":"
The second session, titled \u201cInfrastructure Development and Regulatory Challenges of Emerging Payment Instruments,\u201d was moderated by Deputy Director Chao-Hung Chen of CIEL. The panel featured Kuo-Liang Lin, Chairperson of the Financial Information Service Co.; Quincy Chen, Chief Digital Officer of Cathay United Bank; and Darren Wang, Founder of the OwlTing Group. Drawing on perspectives from […]<\/p>\n","protected":false},"author":2,"featured_media":2313,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[17],"tags":[126,145,250,269,270],"class_list":["post-2742","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-events-en","tag-blockchain","tag-stablecoin","tag-salon","tag-financial-supervision","tag-virtual-currency"],"acf":[],"yoast_head":"\n