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BANKING TECHNOLOGY | Tony Chua, Thailand
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Bank of Ayudhya keen on digital banking

The lender’s aims to double the share of internet transactions to 10% by 2013.

Bank of Ayudhya is pursuing more growth in digital banking business to tap new device technology and high potential to earn more revenue from the segment, says executive vice-president Thakorn Piyapan.
Mr Thakorn showsoff the new Krungsri Banking SIM, which allows customers to make transactions with the bank even if their phones do not have internet connectivity. The bank has other mobile applications for mortgages and personal loans, but new applications available by year-end are expected to cover credit cards, auto loans and other retail banking services.

The bank is developing both internet and mobile platforms for Krungsri Online, which has around 400,000 registered users and is expected to have 1.5 million in two years.

The bank's internet transactions now total around 250,000 per month, only 5% of its total, but it aims to double the share to 10% by 2013, he added.

BAY has been developing mobile services through its Krungsri Mobile Application since the third quarter last year. The new channel accounted for consumer loan growth of 300 million baht ($10.05 million) last year.

The service currently is available for mortgages and personal loans only, but new applications available by year-end are expected to cover credit cards, auto loans and other retail banking services.

View the full story in Bangkok Post.

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