General information

Population

23.1M

Online population

21.7M

Currency

TWD

Market overview

Population - 23.1M

[At the start](https://datareportal.com/reports/digital-2024-taiwan#:~:text=Population of Taiwan in 2024,of the population is male.) of 2024, 80.2% of Taiwan’s population lived in urban centres, while 19.8% lived in rural areas.

Internet penetration - [90.7%](https://datareportal.com/reports/digital-2024-taiwan#:~:text=Population of Taiwan in 2024,of the population is male.)

There [were](https://datareportal.com/reports/digital-2024-taiwan#:~:text=Population of Taiwan in 2024,of the population is male.) 21.7M internet users in Taiwan at the start of 2024

FinTech Outlook: Trends, Insight & Technology

Taiwan’s FinTech startup ecosystem remains small with just a little over 40 startups operating across insurtech, lending, payment, and robo-advisory. Nevertheless, among these, several ventures have gained prominence, recording substantial growth and garnering investor attention.

Through strategic policies like the ‘5+2 Industrial Innovation Plan’ and the ‘Three Major Plans,’ the Taiwanese government has highlighted FinTech's core position in local development. These policies provide financial support for FinTech innovation and guide the digital transformation of banks and financial institutions. The ‘AI Utilization Guidelines for the Financial Industry’ issued by Taiwan’s Financial Supervisory Commission (FSC) provides a clear regulatory framework for financial institutions to use AI technology, ensuring fintech's healthy and safe development

Banks

Taiwan has a highly competitive banking landscape with 39 domestic banks and 31 local branches of foreign and Mainland Chinese banks.

Digital banks