Cathay United Bank plans to use artificial intelligence and big data analysis to learn what customers need and maintain their loyalty, as emerging virtual banks are likely to poach existing establishments’ clients with fancy marketing and rewards, Cathay United Bank president Alan Lee said.

“No bank dares to say that they are not worried about competition from new virtual banks, and neither can we, but our advantage is that we have long relationships with our clients, know them better and can provide financial products to suit their exact preferences,” Lee said on September 23.

For example, the bank has used big data analysis to choose people who have a high demand for funds and might be interested in applying for personal loans, Lee said, adding that Cathay United then sends marketing information to those potential clients.

Among the 5 million clients who use Cathay United Bank’s credit cards, about 60% have applied for its other financial products, such as mortgages, wealth management products or small loans. The bank aims to raise that ratio, Lee said.

Cathay United Bank does not invest in any of the nation’s three virtual banks. The lender had 680,330 digital savings accounts as of the end of June, the second-highest after Taishin International Bank’s Richart service, Financial Supervisory Commission data showed.