KASIKORN Business - Technology Group (KBTG) is capitalizing on the era of "Human First, Universe of Technology" with the aim of fostering the future of the financial realm in order to create benefits for all and empower the society. Towards this goal, KBTG has prioritized personnel and technological development while also bolstering its innovative capabilities through KBTG Labs. Along with this, it has expanded its infrastructure to accommodate the anticipated increase in banking transaction volume within the AEC+3 region. Determined to maintain its status as a leading technology organization in Thailand, KBTG also aims to emerge as Southeast Asia's top tech organization by 2025.
Mr. Ruangroj Poonpol, Group Chairman - KBTG, said, "The world is now grappling with numerous economic challenges. However, the technology industry - especially fintech companies - remains relatively resilient, as seen from investment in technology firms in Southeast Asia, which has experienced satisfactory growth. KBTG has thus far enjoyed great performance, as evident by the large number of users of our leading products. For instance, the number of K PLUS users is presently more than 18.6 million; over 850,000 people are using the KhunThong social chatbot, and more than 400,000 users have signed up for MAKE by KBank application. What's more, KBTG has pioneered multiple businesses. Notable endeavors include the launch of Kubix - an ICO portal which recently announced its first success with DESTINY TOKEN; and the introduction of 'Coral' - Thailand's leading NFT marketplace platform, developed by KASIKORN X.
Going forward, KBTG will take further action in creating a new era, which will be known as the Human First, Universe of Technology. Endowed with KBTG staff's expertise and creativity, a multitude of financial innovations will be driven to empower the users, partners and society. As Thailand's leading technology organization, KBTG seeks to enhance its preparedness and expand its capabilities to serve customers, who require the services of a standard bank in their familiar formats, while also responding to new desires amid the rapid changes of a digital world. To become the best technology organization of Southeast Asia, KBTG is undertaking three aspects of development, as follows:
KBTG Labs took this opportunity to introduce two of their latest technologies: Smart checkout, which provides a much simpler user experience, place-check-go, ending checkout via barcode scanning, and smart retail, an online product testing simulation technology that comes with virtual assistants. Regarding research, KBTG has partnered with various universities in Thailand and collaborated with MIT Media Lab, a world-class research lab.
Ms. Voranuch Dejakaisaya, Executive Chairman - KBTG, added, "KBTG's primary missions are to support KBank to achieve its goal of becoming the best bank and develop solutions with KBTG's partners in various ecosystems. Therefore, KBTG strives to become the best technology organization in order to brace for constant changes in technologies, consumer behavior and surrounding conditions. This is needed to support KBank's businesses in the AEC+3 region during the new era. KBTG has developed infrastructure and adjusted its operations, as follows:
Expanding KBTG's system to accommodate growth in KBank's transaction volume: KBTG aims to upgrade its system, with the aim of facilitating current transactions conducted by more than 21 million customers of KBank and those expected to increase from growth in KBank's new businesses such as digital lending. This is to ensure that KBank can provide services more smoothly. Additionally, KBTG is scheduled to improve the capacity of K PLUS so that it can accommodate the expansion of KBank's businesses within the AEC+3. The number of K PLUS users is projected to reach 40 million in 2027.
Expanding KBTG's team to support KBank's regional business: KBTG currently provides IT support in terms of core banking, products (ATM, e-Wallet, Internet Banking), infrastructure and IT security to KBank's business network including China, Laos, Myanmar, Cambodia, Vietnam, Hong Kong and Indonesia. Additionally, KBTG has set up tech companies in two countries, namely K-TECH in China, with its major role in IT capability enhancement; and KBTG Vietnam, with its prominent effort in K PLUS Vietnam app development, while also aiming to reach a target of 200 Vietnamese employees in 2022.
Reimagining operating model: KBTG has established a new 'OneKBTG Operating Model' which focuses on a more integrated collaboration within the organization. Also, the company plans a roadmap to develop new applications in terms of traditional banking, regional banking and banking as a service (BaaS), as well as designing solutions together with its partners to accommodate banking business at the regional level.
Mr. Ruangroj noted in closing, "KBTG will further develop service technologies in response to customers' preferred formats and greater convenience, while also initiating new services for the new world of finance and investment, to serve users in Thailand and within the AEC+3 region. With our personnel, technology and innovative capabilities, plus our new operating model ready to accommodate any future changes and new reliable S-Curve businesses developed by KASIKORN X, KBTG is confident that we will be able to achieve the goal of becoming a top tech organization in Southeast Asia by 2025."