• Government Savings Bank re-imagined its branch network by keeping the human aspect in servicing remote areas in Thailand
• The bank and its technology partner implemented comprehensive teller services with process automation and digital identity
• The back-end structure was designed using microservices architecture to allow maximum adaptability  

28 October 2020, Singapore - Government Savings Bank (GSB) and its partner T.N. Incorporation Ltd. were awarded Best Branch Digitisation Implementation at The Asian Banker Financial Technology Innovation Awards 2020.

GSB re-imagined its branch network by keeping the human aspect in servicing remote areas in Thailand

The bank partnered with T.N. Incorporation Ltd. and offered sales and services unit on mobile (SUMO), a tablet-based service with online real-time transactions, account opening, identification, mobile banking and card activation. Instead of replacing tellers with self-service kiosks, SUMO aims to strengthen GSB’s presence in the local community through human interaction and transform the branch tellers into local sales force on the street.

The bank and its technology partner implemented comprehensive teller services with process automation and digital identity

SUMO replaces manual checks with fully automated process from know your customer (KYC) to account setup. It is 100% paperless and fully supports electronic signature. With its face recognition system and online national identification (ID) card validation system, GSB saw time efficiency as time spent on transactions significantly went down by 20 minutes per customer on average and three hours per day for full-time tellers. Errors were reduced by 95% due to automation.

The back-end structure was designed using microservices architecture to allow maximum adaptability

SUMO back-end system was designed for open banking. Every key process, from identification to account opening, is already created with application programming interface (APIs). This will enable the bank to plug-in with other financial technology (fintech) partners in the future to easily enhance customer experience and scale its services.

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The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. Its business revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com.

Visit The Asian Banker Financial Technology Innovation Awards 2020 official page at https://www.asianbankerawards.com/technology/

Click here for the full list of winners

For further information, you may get in touch with:

Mr. Mobasher Zein Kazmi

Head of Research

Tel: (+61) 452 514 145

mkazmi@theasianbanker.com