Friday, 26 April 2024
KBank introduces “Next Banking Experience” as 2016 strategy
KASIKORNBANK successfully increased its retail customer base by 7 percent in 2015, and has adopted the digital technology-based “Next Banking Experience” strategy focused on quick response to customers’ demands, particularly those of the new generation. The Bank will cooperate with major business partners to expand rapid service channels, and expects to grow its retail customer base to 14 million, with lending growth of 5-7 percent within 2016.
According to Ms. Noppawan Jermhansa, KBank Executive Vice President, the Retail Business Division’s 2015 achievement was close to the Bank’s target, thanks to proactive product and service launches in four groups. The first group is those in the digital banking business, where KBank tops the industry with more than 9 million users or 39-percent market share. The second group is banking products introduced for niche markets, which have been warmly received, e.g., the KBank Football Club Debit Card, jointly issued with 48 leading Thai football clubs, under which more than 100,000 new cards have been issued. The third group is products and services that grew fee income to approximately 32 billion Baht, up 17 percent, close to the target, derived mostly from bancassurance and credit card business. The last group is lending products, which boosted total loans by around 5 percent as targeted, to 368.5 billion Baht.
For 2016, KBank aims to increase its customer base by adopting the “Next Banking Experience” strategy, through digital technology enhancement, for customers’ best service experience. Under this strategy, service channels will be diversified, thereby enabling withdrawal, payment, and funds transfer via multiple channels of bank and non-bank service providers, in line with the preferences of customers who use their smartphones for every need. The focus will be on consumers 23-40 years of age, or those with moderate to high income. Enhancements will be carried out in three aspects:
- App features can be adjusted as desired. In the first quarter of this year, new features of K-Mobile Banking PLUS will be introduced for customers’ use or adjustment as preferred via smartphone anywhere, anytime. For instance, K-Mobile Banking PLUS service application is allowed via mobile device, so there is no need to apply via a branch or ATM. K-Personal Loan applications are facilitated via the app, offering special lending rates and customers’ choices of credit limits and repayment terms. In addition, maximum amount changes for funds transfer, withdrawal and payment via debit card, and card suspension in case of loss or theft, can be done by customers through the app, with no need to call the Bank.
- Enhancement of “Functional and Emotional Benefits” is made for greater creativity of service features based on users’ desires. Examples include screen theme changes for K-Mobile Banking PLUS to the animation film, Khun Thong Daeng: The Inspirations, Doraemon and Friends, and other new screen themes that will be launched monthly.
- Business partnerships will be expanded in response to the needs of businesses of every size, both bank and non-bank operators, plus all customer segments. Business growth opportunities and customer access methods are being explored through collaboration with KBank partners. This is aimed at strengthening a business “ecosystem” that combines KBank partners’ business advantages and the Bank’s solid and diverse business networks, as part of business expansion and synergy for new customer access and greater business opportunity.
Ms. Noppawan added that, under the “Next Banking Experience” strategy, KBank aims to boost its retail customer base to 14 million, or an increase of 7 percent, with an emphasis being placed on specific customer segments, namely entrepreneurs, the new generation, cross-border consumers, new markets and new clients in strategic provinces. The Bank aims to maintain its leadership in the digital banking business and boost new customers in this market by 3.4 million to 11.32 million within this year. KBank’s retail customers are expected to grow 5-7 percent in 2016.
Re-disseminated by The Asian Banker
