Cathay United Bank and Taiwan Futures Exchange Honored as Red Hat Innovation Awards APAC 2018 Winners in Taiwan

Recognized for their strategic use of open source innovation


Red Hat, Inc. (NYSE: RHT), the world's leading provider of open source solutions, today announced the winners of Red Hat Innovation Awards APAC 2018 for Taiwan. Cathay United Bank and Taiwan Futures Exchange were recognized at the Red Hat Forum in Taipei, Taiwan on Nov. 2, 2018, for their outstanding and innovative usage of Red Hat solutions.

Inspired by the theme of the Red Hat Forum APAC 2018, “Ideas Worth Exploring,” the Red Hat Innovation Awards APAC recognize organizations that are modernizing and optimizing their IT infrastructure using open source to be more efficient, flexible and agile. Winners were selected based on the business value and impact delivered by their Red Hat deployments.

Categories: Enterprise Integration and Digital Transformation

Winner: Cathay United Bank (CUB)

CUB is one of the largest commercial banks in Taiwan, with market leadership in securities service delivery, core banking, credit card and wealth management solutions. Through continuous innovation, quality customer service, in-depth understanding in asset management and a vast network of online service touchpoints, it has received several awards for outstanding performance in the consumer finance industry.

As fintech becomes more prevalent, CUB embarked on a digital transformation plan to help keep abreast of foreseeable disruption in the financial industry. Following its rigorous evaluation process, CUB adopted Red Hat OpenShift Container Platform and Red Hat Fuse to implement a Platform-as-a-Service (PaaS) for its banking services, together with Red Hat Satellite and Red Hat JBoss Enterprise Application Platform (JBoss EAP). With its new platform, CUB finds that it now has capabilities that enable it to compete with fintech providers, including improved time to market for its digital services. The platform has also reduced the total cost of ownership and improved the team’s flexibility in resource management.

The Enterprise Integration category recognizes organizations that best represent the value of agile integration.

Categories: IT Optimization and Digital Transformation

Winner: Taiwan Futures Exchange (TAIFEX)

TAIFEX has been committed to the development of Taiwan's futures market since its establishment in 1997. Faced with changing market demands and increasing globalization, TAIFEX has embraced agile development and deployment processes to better address the evolving market. In order to enhance system efficiency, break free from vendor lock-in and improve its competitive edge, TAIFEX migrated from its legacy UNIX system to an open source platform based on Red Hat Enterprise Linux and Red Hat Satellite, successfully launching its new trading system in 2016.

The migration to its Red Hat-based platform enabled TAIFEX to launch new asset classes, cut latency by 75 percent, improve performance consistency, and launch after-hour trading sessions.

The IT Optimization category recognizes outstanding transition from legacy IT to becoming a self-service leader and business partner in the digital world. The Digital Transformation category recognizes organizations that have successfully addressed IT challenges and delivered business value to effectively compete as a digital enterprise.

As part of the 11-stop Red Hat Forum APAC event series, winners for the Red Hat Innovation Awards APAC 2018 will be announced at each stop. Each event will recognize a maximum of two winning projects, with both enterprise and government organizations encouraged to participate.

Supporting Quotes

Dirk-Peter van Leeuwen, senior vice president and general manager, APAC, Red Hat

“Open source is used by organizations across the Asia Pacific region to help address challenges in the digital age. The Red Hat Innovation Awards APAC celebrate organizations that have successfully transformed their IT infrastructure to address new customer demands, accelerate innovation, and drive business results. Congratulations to this year’s winners; we look forward to continuing to help enterprises innovate the open source way.”

Chris Wang, executive vice president, Cathay United Bank

“Looking back at how far we have come today, it would not have been achievable with our previous monolith architecture. Red Hat has been very proactive in working with us to create a solution that fits our needs and helps us future-proof our system from evolving business demands and industry competition. Cathay United Bank will continue to innovate and provide better service to our customers, together with Red Hat to help guide us on this journey.”

Chien-Wan Lai, vice president, Taiwan Futures Exchange

“Working with Red Hat has exposed us to open source culture and kept us up-to-date on emerging technology and a new chapter in our system. The new system has given us the competitive advantage to help keep our trading platform at the leading edge and give the team global recognition. Thank you Red Hat for recognizing our efforts and achievements.”

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