Shanghai Commercial and Savings Bank Formalises Data and Technology Partnership with Bloomberg

Leading private bank in Taiwan to adopt Bloomberg’s trading and risk solutions to automate its workflow and support the diversification of its business lines

Taiwan – The Shanghai Commercial & Savings Bank, Ltd. (“SCSB”) and Bloomberg announced a long-term strategic technology partnership to further accelerate the private bank’s business growth and internationalisation. Bloomberg’s data and technology solutions will help SCSB consolidate its financial market trading workflow, automate clients’ private wealth management needs and increase the bank’s overall operational efficiency.

To achieve this, SCSB will be turning to a number of Bloomberg’s solutions including its Trade Order Management Solutions (TOMS), Multi-Asset Risk System (MARS) Collateral Management, Multi-Asset Risk System (MARS) Front Office, Multi-Asset Risk System (MARS) Market Risk, Bloomberg Cash and OTC Derivatives Valuation (BVAL and BVAL OTC) and Portfolio and Risk Analytics (PORT Enterprise).

In addition, SCSB will explore using Bloomberg’s traditional datasets (including static and real-time) and alternative datasets (including ESG) to help enrich its security master and pricing data to further enhance its treasury operations. And to further expand the reach of its distribution, SCSB will make available to Bloomberg Terminal users its proprietary USDTWD Spot data and related products, including interest rate derivatives and options.

“We’re pleased to be partnering with Bloomberg as we streamline our technology stack,” said Alex Lin, President at Shanghai Commercial and Savings Bank. “In order to diversify our product offerings and attract new customers globally, we felt it’s best to communicate using the same tools and datasets the market is already familiar with using. Bloomberg’s broad range of market leading pricing tools, risk management solutions and community will not only help us today, but as we scale our business and ready our foundation for a stronger, more global and efficient private banking business.”

“We are excited to support SCSB on its journey to modernize its technology and bring further efficiencies to their trading workflow,” said Bing Li, Head of Asia-Pacific at Bloomberg. “Our scalable technology solutions have enabled many firms across the region to stay compliant, trade efficiently and automate their processes even as technologies and regulations evolve. And with SCSB contributing its data, we are thrilled they are not only growing their market reach but enhancing price efficiency for our entire TWD FX community.”

Bloomberg provides private banks with end-to-end solutions, world-class data, award-winning news, sophisticated analytics and an extensive community of financial professionals and business experts. To find out more about how we support private banks, please visit our website here.

About Shanghai Commercial and Savings Bank

The Shanghai Commercial & Savings Bank, Ltd. (SCSB) was established by Mr. K.P. Chen in Shanghai in 1915 with the aspiration “to serve society, to support industry, and to promote international trade.” We are constantly seeking to innovate and improve, in order to keep pace with the times, based on the philosophy of “integrity, service, innovation, and efficiency.” As a result of these efforts, we have developed innovative products and services to meet customers’ needs, such as only requiring $1 to open a savings account, one-stop teller services, small-sum credit loans, and railway negotiations. These financial products and services have enabled us to become a leading bank, and our business has continued to grow as a result of being customer-centric. SCSB has become the only private bank in China to reopen in Taiwan in 1965.

For more information please visit https://www.scsb.com.tw/content/econtent/about.jsp.

About Bloomberg

Bloomberg is a global leader in business and financial information, delivering trusted data, news, and insights that bring transparency, efficiency, and fairness to markets. The company helps connect influential communities across the global financial ecosystem via reliable technology solutions that enable our customers to make more informed decisions and foster better collaboration.

For more information, visit Bloomberg.com/company or request a demo.

Media Contacts

Bloomberg – Robert Koh, +852-2977-6000, rkoh22@bloomberg.net