Dr. Benjarong Suwankiri, Chief Executive Officer of ME by TMB, revealed that over the past 7 years, ME by TMB has been a true digital banking solution for the digital age, showing continuous positive growth. Currently, there are over 360,000 customer accounts, with the ME SAVE account growing at an average of 22% per year. In total, ME has paid out 4.49 billion baht in interest to customers over these 7 years.

Recently, ME has developed products and services to meet the needs of digital customers through three main offerings. First is the ME SAVE account, a digital savings account that offers interest rates up to 4.5 times higher than regular savings accounts, or 1.7% per year. In October of last year, ME unlocked the ability to open ME SAVE accounts through the EKYC (Electronic Know Your Customer) system, providing customers with the convenience of verifying their identity via the ME application anytime, anywhere, without needing to visit a branch. In mid-2018, ME launched the ME MOVE account for spending, featuring a Balance Sweep function that automatically transfers unused funds to ME SAVE to earn higher interest. This product received an excellent response, with 48,000 accounts opened, exceeding the target of 40,000 accounts, and resulting in a 70% increase in transactions compared to 2017. Additionally, at the end of last year, ME introduced ME SURE, the first life insurance purchase option through an application in Thailand.

This year, we have divided our strategy to reach target groups through a Personalize approach, analyzing customer needs to align with their lifestyles while offering comprehensive services to provide a Digital Experience across three target groups:

  1. ME Love You: This group consists of customers who regularly use ME, showing account activity or depositing more than withdrawing, including those with all three ME products. We will offer products and services along with privileges that match this group's lifestyle to foster a strong relationship between the ME brand and its customers, encouraging future referrals.
  2. ME Miss You: This group includes customers who have lost contact with ME. We aim to encourage them to reactivate their accounts by presenting new experiences that make using their accounts more convenient, helping them integrate ME into their digital lifestyle.
  3. ME Need You: This group targets new customers, aiming for 20% of our current customer base this year. We are focusing on Gen D and gig workers or freelancers, as research shows that Gen D has digital experiences as a core part of their lifestyle, enjoys using social media daily, and prioritizes two major issues: managing spending for saving and managing investment portfolios according to risk appetite.

 

 

Currently, 80% of ME's customer base consists of young to working-age individuals who value convenience and prefer to manage their transactions online for better returns, avoiding branch visits. Over 73% of these customers are located in Bangkok and its surrounding areas, with 27% in other provinces.

Dr. Benjarong further stated that this year, ME is committed to developing new products and services to consistently provide more for customers, encouraging them to use ME services through the application more frequently. Currently, about 70% of customers use the app, with a goal to increase this to 80% of the total customer base. ME is currently in the sandbox phase or Phase 2 of development towards Full EKYC, allowing account openings using national ID cards and smartphones on both Android and iOS, expected to be operational by the second quarter. This will enable everyone to become ME customers through a single application in real-time, anytime, anywhere, without needing to verify their identity at a branch.

We are confident that the bank will help customers achieve more, such as saving more with the Balance Sweep feature of the ME MOVE account, which transfers unused funds to earn high interest with ME SAVE. Spending will be more convenient with the QR payment feature of the ME MOVE account, and customers can achieve higher returns through new investment accounts designed for high yields, allowing their money to grow. Additionally, customers can save money with increased protection through ME SURE, purchasing insurance via the application with immediate coverage and returns deposited back into the ME SAVE account to earn interest, helping customers reach their financial goals faster with new features and innovations that are easier to use, providing ME customers with a full Digital Experience.