The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site. Please see our Subscription Terms & Conditions.

All material subject to strictly enforced copyright laws. © 2022 Euromoney, a part of the Euromoney Institutional Investor PLC.
AwardsBest Bank Awards

Thailand's best digital bank 2021: Krungthai Bank

Krungthai Bank

Payong Srivanich, Krung Thai Bank.jpg
Payong Srivanich, Krungthai Bank

State-owned Krungthai Bank, Thailand’s third-largest bank by assets, has long been regarded as rather old and crusty, and was all too often eclipsed by nimbler players who set the pace in the fast-changing digital banking landscape.

Not anymore. Krungthai’s president, Payong Srivanich, has fought back in style. In October 2020, the bank took a big step forward with the launch of Infinitas by Krungthai, a digital financial product and development company which fast-tracks innovative business models and shared service platforms as a way of generating revenues.

The Bangkok lender is also implementing robotic process automation and artificial intelligence to cut costs and increase efficiency.

On the mobile banking front, Krungthai has made progress. Its ‘KrungThai Next’ mobile banking application has more than 9 million users and offers a comprehensive range of features, from payment of electricity bills to currency exchange services. Granted, this figure is considerably lower than the 15.5 million users of Kasikornbank’s K Plus mobile banking app, but achieving a chunky number like this in a relatively short time is no mean feat.


We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree