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KBank launches 'instant' loans

Kasikornbank (KBank) said it has introduced an innovative SME financing service, based on a smart model created by artificial intelligence to analyse customers' financial behaviour and requirements, and pioneers mobile SME lending to assist its customers in accessing financial facilities in a timely fashion. Without any collateral or documents required, customers can obtain loans of up to Bt1 mil

This year, KBank expects to extend Bt3 billion of loans for independent businesses via this platform.
Surat Leelataviwat, KBank vice president, said: "We always emphasise the support of SME customers who are a major contributor to KBank and a key driver for the Thai economy. 
"However, most SME operators have faced difficulties in gaining access to funding due to the unavailability of financial data for loan approval, lack of collateral and no financial planning, resulting in business interruption and lost opportunities."

Published : June 22, 2018

By : The Nation