Investment of 2.7 billion Baht to fortify the status of the Regional Digital Bank <\/h4>\n\n\n\n
Kattiya said that, guided by our regional bank business plan, KBank will focus on development of technologies and manpower, investment in startups and business acquisition in key strategic areas during the next three years. Within a budget of 2.7 billion Baht, KBank will work towards building business networks embedded with the DNA of a \u2018challenger bank\u2019 to deliver services on digital platforms to local users with high agility, while aiming to become the Regional Digital Bank of the new era<\/p>\n\n\n\n
KBank has employed the Asset-Light Digital Banking Strategy to expand its businesses in the AEC+3 market, emphasizing the business partnership format. Through investment in and cooperation with local technology companies and startup businesses, KBank has achieved satisfactory progress in terms of networks and service technologies that are more responsive to users\u2019 requirements. Key strategies that have led KBank\u2019s operations consist of: 1) \u2018Aggressive Play\u2019<\/strong> in lending to corporate customers<\/strong>, including investors and local business operators; 2) \u2018Mass Acquisition Play\u2019<\/strong> in expanding the customer base via cooperation with business partners <\/strong>with focus on provision of transactional banking services via digital channels and achievement of transaction linkage at the regional level as a regional payment platform; and 3) \u2018Disruptive Play\u2019 in developing new patterns of financial services,<\/strong> especially digital lending, with the use of alternative data to reach out to the underbanked group, which constitutes a large customer base in the AEC+3 bloc, and stepping forward to become a Banking-as-a-Service (BaaS) business. <\/p>\n\n\n\n Pipit Aneaknithi, KBank President,<\/strong> said that the Vietnamese economy is poised to record the fastest growth in ASEAN, thanks to its huge potential in attracting investment from around the world. Additionally, Vietnam has emerged unscathed from the COVID-19 crisis, and its public debt is below 60 percent of GDP. Vietnam also exhibits a promising outlook and is set to become a newly industrialized country (NIC) \u2013 with high upper middle-income status \u2013 by 2030, and a developed country by 2045.<\/p>\n\n\n\n The Vietnamese government has the policy of promoting the country to become a new technology hub for Asia. The country has more than 100 million people, and they are relatively young, with a working-age majority. Its middle-class population has grown significantly in recent years. Domestic consumption is projected to grow at 7 percent over the next three years. Additionally, spending via digital channels is prevalent in Vietnam, as evidenced by the fact that more than 50 percent of its consumers shop online.<\/p>\n\n\n\n Pipit said further that KBank aims to be the first foreign bank in Vietnam to offer full-fledged \u2018digital product solutions\u2019 to all customer segments, including local and international investors, particularly those operating trading, services, basic infrastructure and industrial businesses, as well as retail and small business customers via deposit products, personal loans and payment acceptance systems. As a leader in digital and mobile banking services in Thailand, KBank will use its technological capabilities to improve related services for customers in Vietnam. This will include the use of K PLUS Vietnam as a base for creating a digital lifestyle ecosystem for retail customers nationwide, and the offering of digital lending with the launch of KBank Biz Loan to small merchants. We have focused on a direct approach to customers through our partners and local platforms via the investment of KASIKORN VISION, an investment arm of KBank, as well as the establishment of KBTG Vietnam to support technological development for service provision both in Vietnam and region-wide.<\/p>\n\n\n\n Pipit added that KBank has entered the Vietnamese market with the aim of offering digital services connected to customers through banking channels and partner platforms. The move reinforces the Bank\u2019s strategy of becoming the Regional Digital Bank of the new era. As a \u2018challenger bank\u2019 focusing on greater flexibility and using technologies to reach out to consumers, KBank is confident that it will be able to connect banking services to local customers in Vietnam in a broad, convenient, fast and responsive manner. The Bank has set a target of 1.2 million Vietnamese retail customers next year, and plans to continuously expand new products and services.<\/p>\n\n\n\n Presently, KBank has an overseas service network covering the AEC+3 countries and beyond, for 16 countries in all. The newest overseas branch is in Ho Chi Minh City. Aside from more than 84 financial partners worldwide, the Bank has more than 20 startups in which it has invested and partnerships within the region, as well as a regional customer base of more than 1.85 million people.<\/p>\n","protected":false},"excerpt":{"rendered":" KASIKORNBANK (KBank) is pressing ahead to become the Regional Digital Bank of the new era in AEC+3. Guided by the strategy of leveraging its key strengths <\/p>\n","protected":false},"author":8,"featured_media":72443,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[117,13940],"tags":[1858,4199],"class_list":["post-72442","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-en","category-finance","tag-kbank-2","tag-vietnam"],"yoast_head":"\nKBank making greater inroads into Vietnam<\/h4>\n\n\n\n
![\"\"](\"https:\/\/www.thestorythailand.com\/wp-content\/uploads\/2022\/08\/KBank-Vietnamese2.jpg\")
<\/figure>\n\n\n\nBusiness model in Vietnam <\/h4>\n\n\n\n