Land Bank of Taiwan (LBOT) is the third local bank in Taiwan after Taipei Fubon Bank and Taishin International Bank to join SWIFTNet Funds fund automation system.

Established in 1945, LBOT is a Taiwan government-appointed real estate and agricultural trust professional Taiwan-based bank chiefly engaging in implementing government policies in residential, agricultural and land issues.

SWIFT, Society for Worldwide Interbank Financial Telecommunication, is a co-operative established by and for the global financial industry in 1973. The society aims to provide secure and standard financial messaging services and interfaces for financial institutions and countries worldwide.

Front-end and back-end processes

LBOT would soon adopt ISO 20022 XML message format provided by Ares International, a SWIFT service partner certified in 2003. This message format is expected to aid the automation of most of the fund investment transaction procedures (including front-end and back-end processes such as purchasing, conversion and redemption) of LBOT against overseas fund agents.