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Increasing the Deposit Business of Commercial Banks by Developing Strategic Alliances with the Funeral Services Industry
Beginning of article
The Statute of Funeral and Interment Management1 was passed in Taiwan on 14 June 2002. The statute establishes the legal basis for the sale of inter vivos contracts by funeral services providers and stipulates that 75% of the fees should be managed by trust agencies. As a corollary, available trust funds of banks are passively increased. This paper considers how, from the perspective of banks, strategic alliances with the funeral services industry may be actively pursued. By combining time deposit business and inter vivos contracts, a mutually interacting relationship between the bank, the funeral services provider and time deposit customer can be constructed. This practice may open up a …
