Krungsri launches roadmap toward becoming digital banking leader

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  • New KMA platform: A mobile banking breakthrough under the more fabulous, easier, faster and more complete concept
  • Technologies to be deployed by this year-end: AI, robo advisor, digital lending and mobile payment

Krungsri (Bank of Ayudhya PCL) revealed its digital banking and innovation plan, while introducing newly-modified Krungsri Mobile Application (KMA), a user-friendly, rapid and all-in-one app designed to make it compatible with cutting-edge technologies and innovations to be gradually deployed by this year-end, namely artificial intelligence (AI), robo advisor, digital banking and end-to-end digitalization. The move reinforces the Bank’s Make Life Simple concept.

Mr. Thakorn Piyapan, Krungsri Head of Krungsri Consumer Group and Head of Digital Banking and Innovation Division, said “Under our vision to become a digital banking and innovation leader, we never rest in getting the most from digital advancements. Among latest developments include the newly-modified KMA platform, which is intended to offer user-friendly service, easy data access and complete selection of services. Providing users freedom to make choices based on a customized and personalized platform, the new KMA allows users to easily organize app feature icons by moving them in and out of the app screen per their preference. Thus, we’re confident that KMA will be a key platform for the Bank to consistently channel fresh financial technologies and innovations to our customers. Krungsri expects active KMA users to rise to 1.5 million by the end of 2017 and 2.5 million by the end of 2018.”

Equipped with AI and machine learning, the KMA platform will soon serve as a chatbot answering customer queries through text and voice responses. The Robo advisor technology has been adopted to boost customer service efficiency particularly investment advisory service. Appropriate investment advisory service based on solutions provided by this innovation will be used for greater staff efficiency in offering this service. The end-to-end digital lending, set to launch in the fourth quarter of this year through KMA, will offer customer convenience in loan application, loan follow-ups, money or virtual card receiving,  as well as statement request, on a real-time basis.

To embrace the National e-Payment policy, Krungsri has developed the QR Code system for its payment service, with a QR code reader embedded as a feature of the KMA menu. The Bank is currently developing a mobile app to enable payment and funds transfer for merchants through a common QR code standard. Other app features will also be included in response to merchants’ demand.

Since early this year, Krungsri placed a great emphasis on digital banking and innovations to enhance customer experience under the Bank’s seven pillars, namely Multi-channel and Omni-channel; Branch Transformation; Process Digitization; Digital Marketing and Social Media; Innovation Culture; StartUp/FinTech Experiments; and National e-Payment.


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