Thailand’s largest bank by revenue, Kasikornbank Pcl, has unveiled that it is planning to introduce a new FinTech platform by the end of the year as it attempts to prevent fee income from its rival banks.
In a report from Bloomberg, Kattiya Indaravijaya, one of the four presidents at the Bangkok-based company, said that the goal was to produce faster, easier and lower-cost online banking transactions. There are also talks with overseas companies to create the digital payments platform. According to information from the Bank of Thailand, Thai mobile and Internet banking transactions increased by 26 percent between April and September in 2016. Warut Siwasariyanon, head of research at Asia Wealth Securities Co. in Bangkok, said: