Kasikornbank recognised for its bundled cash management product solutions as it wins Best Cash Management Bank in Thailand at The Asian Banker Transaction Awards 2019
- Strategy to become Customer’s Life Platform of Choice drives steady growth for its cash business
- A total solution of structured package covering Payment, Collection and Liquidity Management
- Innovative solutions based on customers’ forward-looking goals
Bangkok, May 30th, 2019 — Kasikornbank received the award for Best Cash Management Bank in Thailand at The Asian Banker Transaction Awards 2019. The award ceremony was held in conjunction with the prestigious Future of Finance Summit 2019, the foremost annual meeting for decision makers in the financial services industry in the Asia Pacific region, held at the Shangri-La Hotel, Bangkok, Thailand.
In the picture: Mathew Welch and Bill Chua; International Resource Directors, Siddharth Chandani, Researcher; The Asian Banker with Silawat Santivisat; Head of Transaction Banking, Lalita Borisut; Head of Cash Product Management and Sooksant Wattanayakorn; Co-Department Head- Cash Management; Kasikornbank
Strategy to become Customer’s Life Platform of Choice drives steady growth for its cash business
The bank’s cash management franchise is built around four key elements that encompass it to become one of Customer’s Life Platform for Choice. First- to position itself as main operating bank for corporates, second- embrace digitalisation and disruptive trends, thirdincrease process efficiency & service excellence and fourth- build advisory competencies. Driven by its unique ability to bundle products/solutions that create stickiness and gives clients an edge and continued collaboration with fintech community helped the bank realise a steady growth for its cash business. Volumes for its transaction business rose 24% while average corporate deposit balances strengthened by 10%.
A total solution of structured package covering Payment, Collection and Liquidity Management
Winning overall more than 15,000 mandates for its cash business across FI, corporate and SME business, the bank rolled out a total solution of structured package covering Payment, Collection and Liquidity Management Product and services for a well-established shopping complex in Bangkok. The mandate contributes substantially to bank’s CASA. Leveraging machine learning and data analytics, the bank’s extensive network and channel infrastructure facilitates collection and payment services for the client.
Innovative solutions based on customers’ forward-looking goals
The bank partnered with a top vending machine company in Thailand to co-develop necessary infrastructure which drives automated reconciliation for it. For a seamless payment experience delivered to bank’s all customers, it integrated its mobile banking feature Pay with KPlus on Facebook Messenger. This allows them to pay instantly on Facebook messenger without the need to key in an account number. Notably, the bank’s transaction value is in excess of 50% of country’s transactions undertaken on social commerce platform.
The Asian Banker Transaction Awards Programme, refereed by prominent global bankers, IT consultants and academics, is the most prestigious of its kind in Asia Pacific. Recipients of these awards are honoured in a gala event that recognises their efforts in bringing superior products and services to their customers. A stringent and comprehensive evaluation process determines the awardees. For specific details relating to description of the awards, evaluation criteria and process, kindly visit http://www.asianbankerawards.com/transactionawards/index.php.
About The Asian Banker
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The company is headquartered in Singapore, with offices in Manila, Malaysia, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services, and forums.
To view the Business Achievement Awards 2019 gallery, please visit https://bit.ly/2WcifTO.
For further information on the collaterals for winning banks, please contact:
Mr. Alfred Labicassi
The Asian Banker