BAY to upgrade system to maintain e-business
Bank of Ayudhya will spend Bt2 billion over three years on information technology, especially customer intelligence, to reinforce its e-business including Krungsri Mobile Application.
President Philip Tan said yesterday that the bank had used about Bt2 billion in the past two years to build a base for e-business to ensure content delivery to target customers this year.
Content delivery, however, has to improve, so the bank will develop a system to analyse customer behaviour regarding financial transactions and lifestyles before planning activities for each market segment.
Technology on mobile phones is part of the daily lives of consumers. Thailand has 75 million mobile subscribers, exceeding its population of 64 million, and 17.8 million use the Internet.
The bank wants to offer simple transactions via the mobile channel and encourage customers to become familiar with Krungsri Mobile Application.
Simple transactions should move to e-business, including mobile devices, while complicated transactions should remain with bank branches.
Krungsri expects its e-business transactions to grow to 50 million this year from 36 million last year, its customer base to expand to 3.4 million users from 1.7 million and downloads to about 500,000 from 100,000.
Transaction volume is projected to grow by 200 per cent from Bt200 billion.
Income is expected to reach Bt180 million.
Non-customers can use Krungsri Mobile Application to check financial products or foreign exchange rates, while Krungsri customers with accounts at the bank can access more services such as statement inquiry, investment portfolio, financial products, financial reminder, bill payment and fund transfers, and transactions for mutual funds, credit cards and savings deposits. Cash transfers via the app are limited to Bt500,000 per day.
The bank plans to develop transaction modules for Krungsri Auto and Krungsri Securities in the second phase, Tan said.