Krung Thai Bank as a leading commercial bank in the country, recognizes the importance of developing the nation's digital economic infrastructure. The bank is committed to advancing technology and financial innovations to meet the needs of all customer segments in every dimension, helping to reduce disparities in access to financial services. It collaborates with both public and private partners to drive sustainable economic growth, aligning with the Sustainable Development Goals (SDGs).

The bank participated in the BOT Digital Finance Conference 2022 at the Bank of Thailand Learning Center from October 27 to 29, 2022 to showcase its potential in developing comprehensive digital financial innovations and services under the theme “Wings of Digital Finance to the Future” within a booth designed in a symmetrical geometric shape resembling a large bird's wing that embraces the lives of Thai people, divided into three zones.

Zone 1 Financial Innovations for the PublicThe bank has developed digital services that cater to the new lifestyle, including the following applications:

-Krungthai NEXT under the concept “Live Better with One App” offers functionalities beyond banking, adhering to international security standards. It encompasses payment services, investment options, and international money transfers, advancing towards becoming a full-scale digital bank (The Full Scale Digital Banking). It is the first bank in the country to implement a Cloud Native system to enhance stability and speed, accommodating the rapidly increasing number of users, which exceeds 17 million.

-Empowering travel with Krungthai Tranxit Card a debit card that simplifies fare payments for all modes of transportation, including buses, ferries, sky trains, and expressways, all in one card. This aligns with the government's joint ticketing policy and promotes a cashless society.

- Developing Smart University through UApp (University Application) is an application that integrates academic, lifestyle, and spending aspects into one platform, making life on campus convenient for students, faculty, and staff. It connects the university's information system with the bank's comprehensive electronic payment system. Currently, it has been developed and launched in collaboration with 14 universities nationwide.

Zone 2 Financial Innovations for Public Services presenting technologies and innovations to enhance the efficiency of public sector operations, elevating services for the public and businesses to be more convenient, fast, transparent, and verifiable, including:

-Electronic Government Procurement System (e-GP) utilizes digital technology to enhance the government procurement process, making it faster and more transparent, increasing competitiveness for entrepreneurs, especially SMEs, in accessing government procurement. Additionally, the Electronic Know Your Customer (e-KYC) system helps verify the identities of public traders, reducing costs for entrepreneurs during registration and elevating trade transactions with the government to a fully digital format.

-Boosting business confidence with Krungthai e LG electronic guarantee letters that are quick, reliable, and approved within 1 hour. It ensures transparency through Blockchain technology, reducing complexity from documentation processes and quickly connecting electronic guarantee services from the government procurement system (e-GP), ensuring data security and preventing leaks. Over 170 leading companies in the country have adopted this service.

Zone 3 Financial Innovations for Businesses develops a comprehensive digital financial management system to strengthen entrepreneurs, creating opportunities for sustainable business growth, including:

 -PromptBiz  supports digital trade transactions by linking business trade and payment data with financial service providers and government tax systems, addressing the issues of traditional business practices that still rely on paper documents, which are costly and prone to errors, posing barriers to SMEs' access to funding.

-Krungthai Business is a financial management system for businesses that is easy and comprehensive, allowing unlimited free transactions with a starting annual fee of 111 baht.

-The Point Pay project aims to assist small retailers nationwide by allowing partner customers from AIS, KTC, and Bangchak to use reward points as cash in participating stores, which currently number 1.7 million nationwide.

Additionally, the bank enhances financial services for businesses with the Partner Loan Program under the Digital Supply Chain Financing to improve liquidity for business efficiency, offering overdraft loans with special interest rates starting at 0.80% per month without collateral, up to 3 times the purchase amount, with a maximum of 20 million baht. Convenient access to funds is available through online channels, both Krungthai Business and Krungthai NEXT. The bank also offers environmental loans in collaboration with the Environmental Fund for investments in waste treatment systems for sustainable and environmentally friendly businesses, with a fixed interest rate of 3% per year throughout the contract period, with a maximum repayment term of 7 years. Additionally, there are loans for energy conservation and environmental protection for solar panel installations, reducing business costs with clean energy, offering high loan amounts with a maximum repayment term of 10 years and starting interest rates of MRR-1% per year without collateral. Lastly, the Robotic and Automation Loan increases production capacity with automation, starting interest rates of 4% per year and a maximum repayment term of 7 years.

Krung Thai Bank is moving forward to drive the organization with innovation and technology  to enhance the quality of life for Thai people every day, aligning with the mission “Krung Thai, Side by Side with Thailand Towards Sustainability”  For more information, please contact Krung Thai Bank at any branch or Krungthai Contact Center at 02-111-1111 or visit  www.krungthai.com.