Kiatnakin touts ‘alternative distribution’ success
KIATNAKIN BANK, a member of the Kiatnakin Phatra Financial Group, is accelerating its credit-house business in order to expand lending through its “alternative distribution channel” (ADC) group.
Pattarapong Raktabutr, head of that channel, said previously that the bank had emphasised lending through car dealers and bank branches, but was now shifting its tactics by placing more emphasis on proactive engagement of clients, as well as by expanding the amount of products tailored towards individual borrowers. Hence the ADC group was created in February last year.
This unit services retail borrowers by providing personal loans, home mortgages and the “KK SME Car 3x” loan. Kiatnakin says this was an important move to facilitate efficient disbursal of retail loans and gear the bank up as a quality credit house. This new channel gives the bank quick, far-reaching and convenient opportunities to access individual borrowers and offer them its services.
Experienced marketing representatives who are well acquainted with the products are used.
The ADC’s performance since its establishment has exceeded its working target, Pattarapong said. It has been able to generate growth quickly in each loan category, with the total amount of new lending provided through the ADC valued at Bt5 billion.
Kiatnakin Bank’s functional group on marketing channels and customer development has been designed for the purpose of optimising management and administration. Emphasis is placed on sustainably expanding business via the utilisation of a “4+1” structure. That involves four support functions and a sales-administration function that plays the key role in market penetration.
Among the four support functions, “sales strategic planning” analyses data, lays down tactics, develops the business and determines marketing and sales policies in accordance with the business plan.
The second support function manages the database on marketing representatives, provides support to work flow, and manages sales results.
The “sales governance and service delivery” function ensures marketing representatives’ compliance with regulations and manages risk.
“Sales development and support” procures manpower and develops personnel’s work expertise.
Last, the sales-force function currently includes some 600 marketing representatives.
