15 October 2021
Bangkok (15 October 2021) –
Krungsri (Bank of Ayudhya PCL) launches an innovative international money transfer service for juristic persons via Krungsri Biz Online (KBOL) digital platform. International transfer transactions can be made easily at any time 24/7, minimizing branch visits during the COVID-19 pandemic and no need for supporting documentation submission. Recipients in destinations like the United Kingdom and Singapore will get the transferred amount on a real-time basis while recipients in other destinations, namely the United States of America, Australia, and most European countries will receive the money faster than before. Moreover, real-time status checking is enabled via the online platform. The newly launched service offers SME operators greater flexibility in making international transactions, reaffirming the Bank’s position as a ‘Regional Bank’ for juristic persons.
Mr. Sayam Prasitsirigul, Krungsri Chief Information and Digital Officer, said, “Krungsri has always emphasized financial technology development. This time we use both the Blockchain and Application Programming Interface (API) innovations to develop the international money transfer service to provide a better international money transfer experience for business customers through Krungsri Biz Online digital platform. It enables customers to make more convenient, faster, and more secure transfer transactions. The innovation can match the name of the recipient bank and its code to minimize any human errors. Currently, the destination countries can receive money in real-time. Krungsri has connected its transaction networks with Ripple and Nium, the global payment infrastructure platforms, and the Bank and MUFG’s alliances. Such service is under the regulatory sandbox of the Bank of Thailand (BOT). In the first phase, the service covers 13 major countries and will further expand to other countries following the Bank’s strategic directions of developing financial innovations that help improve the business opportunities of international transactions.”
Ms. Yingluk Kongkasai, Krungsri Head of Transaction Banking Group, said, “The international money transfer service via Krungsri Biz Online was designed to meet the needs of SME operators both individual and juristic persons, especially the importers of goods and raw materials. The service covers 13 destination countries, namely, the United Kingdom, the United States of America, Singapore, France, Germany, Italy, Spain, the Netherlands, Ireland, Austria, Belgian, Portuguese, and Australia; and supports 5 major currencies: USD, EUR, GBP, SGD, and AUD. Customers can transfer money easily anywhere and anytime around the clock while the recipients will receive the full transferred amount. The status of the money transfer can be checked in real-time. Boasting all these qualifications, such service is offered at a fee of 599 Baht per transaction without any other additional fees charged from the source or destination banks. We believe that these will be the key factors that help promote greater flexibility for our business customers.”
Customers can request further information or apply for the service of Krungsri Biz Online at
https://bit.ly/2YRNRFj or Tel.
02 6262626