KBank taps data analytics technology as part of strategy for SMEs
KASIKORNBANK (KBank) has unveils its strategy small and medium-sized enterprises (SMEs) for 2018, drawing on data analytics technology and value chain in its lending.
Loan growth is targeted at 4.6 per cent year on year, based on a “Bank for SME Business” strategy, encompassing four elements to achieve loyalty of SME operators: comprehensive financial service, digital banking service, data analytics technology in credit analysis and ‘beyond-banking’ services, aimed at empowering SME business operations.
Amid a stronger economic recovery, NPLs are expected to decrease.
Suwat Leelataviwat, KBank executive vice president, said the Thai economic growth in 2018 will likely be on par with last year’s pace, at approximately 4 per cent. Construction businesses will benefit from public investment projects with a total budget of around Bt1 trillion. Exports could grow 4.5 per cent year on year, to be supported by global economic recovery, while tourism will rise 6.5-7.5 per centm given a higher number of foreign tourists, in particular those from China.
Meanwhile, SME adjustments are crucial so that they can cope with consumers’ growing preference of online channels. As social media and high technologies have become more important in business undertaking, SMEs will need to develop omni-channel model for their sales, use advanced technologies to maximize their efficiency and design after-sales strategies that will create positive customer experiences, the bank said.