KBank expands its ‘super ecosystem’ with business partners in seven industries
KASIKORNBANK (KBank) has earnestly adopted technology to bolster its service capabilities through synergy with leading partners in seven industries. The collaborative efforts aim to expand its network within a “super ecosystem” that connects services, both online and offline, in response to customers’ lifestyle needs in the hybrid era. Currently, more than 20 million customers can use KBank services at more than 830 branches and 10,970 K-ATM/K-CDM, over 220,000 KBank Service points across the country as well as K PLUS – a full-fledged platform for comprehensive daily transactions. This success has been recognized with 20 prestigious global awards granted to KBank, including “Most Selected Main Retail Bank” (among the top 10 banks in the Asia-Pacific region and number one in Thailand, voted by customers as the country’s topmost bank). KBank has also been named “Best Retail Bank in Thailand” for the 13th consecutive year.
Mr. Pipatpong Poshyanonda, KBank President, said that KBank is determined to bolster its financial service capabilities through omni-channel solutions to ensure a seamless customer experience that is aligned with the clients’ needs anytime, anywhere. The Bank has prioritized synergy with various partners in order to create a “super ecosystem” that allows customers to use financial services and beyond with enhanced convenience, speed and security. The Bank also aims to extend its reach to low-income retail customers to ensure their improved access to financial services.
The business partners with which KBank has expanded its financial service networks include seven groups: 1) e-commerce and payment, e.g., Shopee, Blue CONNECT; 2) social media, e.g., social banking services via LINE BK; 3) financial service providers, e.g., KBank Service for financial transactions via KBank’s partners with networks that cover daily lifestyles of customers; 4) education, e.g., CU NEX application of Chulalongkorn University; 5) public health, joining hands in developing healthcare digital platforms for public hospitals to enhance the service potential of advanced medical technologies by providing extensive access to service users and creating linkages with payment systems and financial services, such as King Chulalongkorn Memorial Hospital, Thammasat University Hospital, Rajavithi Hospital, Chonburi Hospital, Neurological Institute of Thailand and the “BMA Doctor” application; 6) clean energy, e.g., cooperation with partners for EV bike rentals via K+ market, cooperation with automobile companies for lending with preferential interest rates to EV car buyers, and cooperation with residential projects and innovation companies for lending to customers and business operators for solar panel installation; and 7) tourism, i.e., cooperation with Thai Digital Platform for Social Enterprise Co., Ltd., and Tourism Authority of Thailand to develop TAGTHAi – a tourism service platform.
Mr. Pipatpong said that KBank now has more than 20 million customers, who may use services at more than 830 branches and 10,970 K-ATM/K-CDM as well as over 220,000 KBank Service points across Thailand within the service areas of KBank’s partners having nationwide branch networks, for example, Thailand Post, Big C, Boonterm kiosks, CJ Express and 7-Eleven, among others. Customers can conduct transactions including deposit, withdrawal, bill payment and identity authentication to open electronic savings accounts – K-eSavings – anytime, anywhere, without having to visit a KBank branch.
Concurrently, KBank wants to engineer K PLUS to become part of a ‘Digital Lifestyle Ecosystem’, which is not only limited to using various features on K PLUS itself, but is also a full-fledged open banking platform that seamlessly links KBank’s services with the applications of our strategic partners. Consequently, customers will be able to spend via various applications on K PLUS with no need to switch between applications. They will be able to use the Authentication with K PLUS service to apply for a wide array of services and products of our strategic partners, as well.
Such collaboration is imperative in promoting KBank to become a financial service provider, with modern, world-class technology capabilities. Recently, KBank garnered two awards from The Asian Banker, namely “Most Selected Main Retail Bank” (among the top 10 banks in the Asia-Pacific region, and number one in Thailand, voted by customers as the country’s number one bank), and “Best Retail Bank in Thailand” for the 13th consecutive year. During the first 7 months of 2022, KBank received 20 distinguished awards from four international organizations, for example;
“Best Retail Bank for Digital CX-Thailand” from The Digital Banker
“Best Service Provider-Transaction Bank” from The Asset Triple A
“Best Digital Collaboration” for LINE BK from The Asset Triple A
“Highly Commended- Excellence in Omni-Channel Integration” for K CHECK ID from Retail Banker International
“Highly Commended- Trailblazing Use of AI or Machine Learning in Financial Services” for LINE BK as well as the digital commercial loan project for Shopee’s merchants from Retail Banker International.
