Krungsri Bank to launch new e-Marketplace, eyes 5.5 million users

TUESDAY, November 05, 2019

Bank of Ayudhya (also known as Krungsri) will unveil its newest service called KMA e-Marketplace this month, said Thakorn Piyapan, head of the bank’s Consumer Group, Digital Banking and Innovation department.

“KMA is our mobile banking platform built with our business partners including Major Group, McDonald’s, The Pizza Company and more to sell products and services via the mobile application,” he said.
“The KMA e-Marketplace app will connect consumers to various products and services, such as buying travel insurance, digital lending, and auto leasing.”
Thakorn explained that KMA will employ the latest technologies such as an application programming interface, artificial intelligence and big data management to bring the bank’s products and services closer to customers’ needs.
“These technologies will help us get to know our customers better – for example, what are their preferences, interests and tendencies to invest in the future. This data can be further analysed to create a more efficient business plan. In the future, mobile banking will not only mean making a transaction via your phone, but will also be a full-fledged marketing platform for banks and business partners,” he said.
Bank of Ayudhya serves around 3.8 million customers annually via its mobile platform, a 52 per cent increase from last year’s 2.5 million users, which shows the strong potential of the online channel.
“After the new e-marketplace is launched, the number of users is expected to hit 5.5 million, while the number of active customers who use our app regularly should be around 4 million people per year,” he said.
Thakorn added that 87 per cent of the bank’s current transactions are carried out via mobile banking, while only 11 per cent are done through ATMs, and only 2 per cent in person at the bank’s branches.