Thai Credit Bank Public Company Limited (CREDIT) received the 'Outstanding Innovative Company Award' from the Stock Exchange of Thailand and Money & Banking Magazine for the Micro Pay e-Wallet (Micro Pay) in the Business Excellence Award group at the SET Awards 2024, reflecting the bank's commitment to jointly creating work quality, creating changes for society, helping to raise standards, and fostering long term sustainable growth in economic and social.
Micro Pay is an innovation that allows customers to save money electronically without a necessity for bank account book to use for transferring, payment of products or services and other financial transactions. Customers can use financial services via smart phone at anywhere and anytime, focusing on providing loan services to merchants, also known as nanofinance or microfinance customers, as the majority of this group are unable to access available financial services in the system and have to rely on loan sharks.
Currently, the amount of financial transactions through Internet and Mobile Banking has been significantly increased, resulting in various benefits for the bank's operations such as an improvement in operational efficiency, risk reduction in frauds from cash collection, and lower management costs, as well as helping to improve efficiency in customers' money management, which improves customers' convenience and quality of life.
Mr. Roy Agustinus Gunara, Chief Executive Officer of Thai Credit Bank Public Company Limited, said, "With the development of this unique digital channel, Thai Credit Bank has become a highly efficient financial institution. This includes consecutive years of decreasing in the operating expenses to total income ratio and is considered as one of the lowest cost to income ratio (CIR) in the industry. In the next phase, the bank intends to develop an application that can compete with the competitors in the market and will expand to general customers to create an ecosystem or e-commerce platform for customer groups related to the bank in the future."