fofsummit2019
Editorial

Krungsri Bank was awarded Best Productivity, Automation and Efficiency Initiative, Application or Programme at The Asian Banker International Excellence in Retail Financial Services Awards 2019

By The Asian Banker

  • Relative to peers, increases in productivity facilitated Krungsri Bank’s mortgage book to expand significantly
  • The bank uses digitization to speed up workflow processes and make targeted offers to customers
  • The bank has continuously improved and developed its products to improve customer experience

Krungsri Bank was awarded Best Productivity, Automation and Efficiency Initiative, Application or Programme at The Asian Banker International Excellence in Retail Financial Awards 2019. The awards ceremony was held in conjunction with The Excellence in Retail Financial Services Convention 2019 at Conrad Dubai, U.A.E on March 21st, 2019.

Krungsri
In the picture: John Holder, Chief Technologist, Realities Centre; Richard Hartung, Member of the International Advisory Council of Excellence in Retail Financial Services Awards Programme; Tammavit Trakarnluechai and Darissa Boonwathanakul, Senior UX Designer, Krungsri Bank

Productivity has increased and facilitated Krungsri Bank’s mortgage book to expand significantly

Krungsri Bank’s overall mortgage book grew by more than 10% year-on-year, significantly higher than its peers. The bank’s net interest margin also exceeded the industry average, allowing the bank to attain an 11% market share. Productivity has increased through the bank’s digital mortgage application ‘Di-sales’ which increased loan volume via the application by 75%, with half of the customers new to the bank.

The bank uses digitisation to speed up workflow processes and make targeted offers to customers

By semi-digitizing workflow processes such as prospecting, loan application and underwriting, the bank was able to reduce time taken for full approval of mortgage applications from 3 weeks to 5 working days. The bank utilises robotic process automation in underwriting to verify customer information, while data from its sales, branches and external partners is used to make targeted offers to customers. The bank is also working on an API with developers to reduce response times for pricing quotes.

The bank has continuously improved and developed its products to improve customer experience

The bank has continuously improved and updated its ‘Di-sales’ application based on customer feedback, with several releases and over 20 new features introduced since its launch in early 2018. Through the application, agents are able to access customer details and uploaded documents for processing, simplifying the jobs of regulators, appraisers and underwriters, while improving customers’ experience.

The International Excellence in Retail Financial Services programme is one of the most rigorous, prestigious and transparent awards programme for consumer financial services in the world. Covering all of the Asia Pacific, the Middle East and West Africa, the programme was instituted in 2001 to recognise the pursuit of excellence amongst retail financial institutions. The programme evaluates more than 300 banks and non-bank retail financial services players in more than 42 countries, via a rigorous audit-based approach. Detailed evaluation criteria for each category may be found at http://awards.asianbankerforums.com/retailfinancial/criteria-country

About The Asian Banker International

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. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com

You may visit the Excellence in Retail Financial Services Awards gallery at
https://www.facebook.com/pg/TheAsianBanker/photos/?tab=album&album_id=10157080239284804

For further information on the collaterals for winning banks, please contact:

Mr. Alfred Labicassi
The Asian Banker
Email: alabicassi@theasianbanker.com



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