KBank uses digital for Asean retail
Kasikornbank (KBank) looks set to use digital banking to make inroads into the regional retail market, tapping higher-yield business.
With digital technology, costs for individual customer acquisition have declined significantly, meaning regional retail banking contributes better yields than regional wholesale banking, said co-president Pipit Aneknithi.
"We plan to offer a full range of retail digital banking services, spanning from deposits and lending to investment products," he said. "The bank will unveil its mobile banking app K Plus in neighbouring markets. This sector represents new S-curve growth."
But available financial services and products in the regional markets will be different from those in Thailand, depending on opportunity, customer demand and each country's development level in terms of financial markets and digital technology, Mr Pipit said.
Partnership is another key strategy for overseas digital banking business, with progress expected in China, Indonesia, Myanmar and Vietnam this year.