KASIKORNBANK has revamped the image of its mobile banking service with the concept, “Change for a Simpler Life!”. Focusing on the state-of-the-art features of comprehensive financial transactions on smartphones, target groups include retail and SME clients. The K-Mobile Banking PLUS application has been renamed, and is now K PLUS; a new K PLUS SME has been introduced for the SME segment. KBank aims to have a total of 7 million customers by the end of this year.
KBank Senior Executive Vice President, Mr. PatcharaSamalapa said more people are now using mobile banking services, as evidenced by the 50-percent increase in the number of user accounts at Thai commercial banks in 2016. This trend affirms that mobile banking will soon become the most popular channel for financial transactions, in line with the lifestyle trend of “digital mobility” wherein people are active, seek a convenient way of life and need to manage everything by themselves on their smartphones. These customers have found that the features of mobile banking are very helpful for their financial matters.
To remain at the forefront in the digital banking market, KBank has continually developed comprehensive digital service innovations. Its mobile banking service is now the most-used channel among customers seeking to conduct financial transactions. For a better customer experience, KBank has recently introduced new, simplified features under the “Change for a Simpler Life!” concept. With this new initiative, customers will find it easier to use this app, and all of their financial needs can be met on a single smartphone. More importantly, a world-class data security system has been adopted.
In the latest development, KBank has rebranded its K-MOBILE BANKING PLUS – the market’s leading mobile app - as K PLUS, to make it easier to remember. In 1Q17, its number of users topped 5 million, growing 65 percent YoY. Of this, 80 percent are regular users. In terms of volume, transactions conducted via this app advanced 102 percent from the same period of last year.
K PLUS is not only more user-friendly, but also offers greater convenience for our customers to conduct financial transactions anywhere, anytime, e.g., applying for K-Debit Card which is then delivered to your home, or buying overseas travel insurance. In addition, KBank plans to introduce new features in K PLUS to allow customers to conduct even more transactions instantly without having to visit our branches. Among them are fund account opening, fund switching, credit card cancellation, overseas money transfer and requests for bank statements of the last two years. With these features, it is expected that the number of our mobile banking customers will increase to 7 million by the end of 2017.
For our SME customers, KBank has introduced K PLUS SME, our first-of-its-kind mobile phone application for this customer segment. This application has been developed to meet the real needs of SMEs, largely in keeping track of account transactions, including money transfers, or cheque deposits and payments. SMEs are particularly concerned about returned cheques because they want to maintain credit with their counterparties. To date, no other application can fulfill these needs.
KBank has thus developed more features for this new application which can be used with individual, joint and corporate accounts. The new features allow customers to add new accounts (up to 25), access data and manage their business themselves with greater convenience in a timely manner. Distinctive features which help business operators in their cash management include account management, cheque status inquiry for both cheque deposit and payment as well as alerts in case of problems, loan reports that provide all data related to O/D, P/N, long-term loans, and letters of guarantee, as well as real-time account movement. All of these functions are designed to simplify our customers’ lives.
Mr. Patchara added that to promote the increased use of electronic channels, Digital Service Officers (DSOs) have been assigned to KBank branches nationwide to offer advice on the use of digital products and services to our customers. As for the role of the 1,100 KBank branches, they will focus on personal or business financial services. Technologies will be introduced at these branches to offer greater convenience for our customers, including e-Application, which will help shorten application processes for various products and services, while allowing the Bank to reduce document storage space.