Krungsri Finnovate announces its investment in
Choco CRM, a Thai startup and a leading provider of customer relationship management (CRM) and point of sale (POS) platform and services. Choco’s customers include restaurants, gadgets, fashion stores as well as other businesses. This collaboration opens up a significant access to financial products and services for platform users, as it delivers superior customer journey to all POS users and their customers. Moreover, Choco CRM platform users will be offered with greater access to financial services from Krungsri’s Information-based Lending segment as well as the convenience of QR code payment channel.
Mr. Sam Tanskul, Managing Director, Krungsri Finnovate Co., Ltd., said “Krungsri saw the potential and expertise of Choco CRM, especially POS and data analytics since Choco CRM joined the Krungsri RISE batch 3 program. Its efficient and systematic data management benefits greatly to CRM of SMEs businesses. Its outstanding performance landed the company with the Rising Star award of the program. Currently, Choco CRM is the third startup that Krungsri Finnovate decided to select as its startup investment, which will bring about the synergy in various aspects. The goal of this investment is to strengthen SMEs operators by means of delivering superior financial services and; to facilitate them to achieve business management efficiency and to have access to enhanced financial services, including Information-based Lending platform of Krungsri. Moreover, Krungsri plans to include products and service of Choco CRM platform users in the point redemption program of Krungsri credit card and Krungsri First Choice as well as introduce them to Krungsri customers in other segments.”
“Krungsri will be the key driver for development of payment gateway for Choco’s POS users, which will result in a faster, more accurate, and more convenient payment powered by QR code system. Furthermore, Krungsri’s digital platform with large customer base i.e. KMA and UCHOOSE with over 2.5 million users each, will significantly augment business opportunity of Choco CRM users” Mr. Sam added.
Mr. Sirasit Suriyapattanapong, Founder and Chief Executive Officer (CEO), Choco Card Enterprise Co., Ltd. said “In the early phase, our target is to build the customer base for SMEs operators and increase their active clients. Our system consists of three main channels to communicate with end-users i.e. member card, telephone numbers, and application. Customers can collect points, buy coupons and packages, and other items on the platform while merchants will be provided with mechanism to collect customer data and manage their promotions with reference to such information, which is the key to success as business owners can learn more about customer persona of their regulars and why they continue or stop buying. Data analytics of Choco CRM will be processed and simplified to facilitate understanding of SMEs owners. SMS, emails, and updates via application will be communicated to end users in a form of targeted promotions to stimulate repeated purchases. The collaboration between Krungsri and Choco CRM will strengthen Choco’s platform for future expansion of its presence in the SMEs market. At the same time, Krungsri’s financial technology such as QR code system can enhance core competency of merchants while broadening their access to funding capital.”
Krungsri Finnovate is confident that the investment in Choco CRM will enable SME customers to access Krungsri’s products and services available while Krungsri’s retail customers will enjoy more privileges.