Growing together towards sustainability in Thailand



Author: Payong Srivanich, President and CEO, Krungthai Bank

December 10, 2021

As a state-owned commercial bank, Krungthai Bank always stands alongside the people and society of Thailand as one of the country’s economic pillars and the government’s strategic partner in the implementation of government policies, reflecting our vision of “growing together for sustainability”.

In order to respond to the drastic changes in customer behavior due to digital disruption, we have decided to pursue a dual strategy in which we improve the efficiency of our traditional banking business and protect it from disruption while launching into new businesses. that focus on leveraging data on digital platforms so that we can interact with our customers in a more efficient and meaningful way. As we believe that digital technology is the key to improving the living conditions of Thais, we have focused on developing our digital infrastructure and on using digital technologies to serve both our customers and the Thai people.

Our open digital platform in Thailand, the Pao Tang mobile app, now has over 33 million users, making it the largest digital banking platform in Thailand. We also serve 13 million users of the Krungthai NEXT mobile banking app, 16 million users of the Krungthai Connext LINE service, and 1.5 million users of the Tung Ngen mobile app for merchants.

We have identified five key ecosystems that are highly relevant to people’s lives and believe that improvements in these areas will ultimately lead to better quality of life and sustainable growth.

1. Government technology
As the government strives to achieve its Thailand 4.0 ambition, we have worked closely with it to lay the groundwork for the country’s digital transformation and digitize government services. Our open digital platform, the Pao Tang mobile app, is the primary platform used to connect people to government services. As a platform provider, we are expanding our customer base and helping Thais to familiarize themselves with digital and financial technologies. The COVID-19 pandemic has accelerated the rate of digital adoption and Pao Tang has become the primary tool used to implement relief programs and provide financial assistance to people, helping people to benefit from government programs and helping government to gain valuable data that can be used to deliver more targeted economic policies and packages in the future.

Millions of people have benefited from various COVID-19 relief and economic recovery programs made available through Pao Tang. Among other things, the 50/50 co-payment system, where the government helps pay half the bill when a registrant makes a payment at a participating merchant using Pao Tang’s G-Wallet, has helped consumers people to reduce their cost of living, boosted domestic consumption and helped small traders survive the economic crisis.
Additionally, we have digitized and upgraded several government departments with blockchain technology. For example, the blockchain-based Thailand VRT mobile app and web app enable tourists and traders to process VAT refunds for tourists in a more convenient, accurate and paperless way.

The e-Court and e-Filing platforms have digitized the court process, making court proceedings faster and more convenient, directly benefiting the people and contributing to Thailand’s ranking in the ease index. to do business.

2. Health and well-being
Krungthai digital health platform was introduced to improve the efficiency of the public health system and enable “smart hospital” to improve people’s medical and health care experiences. We worked with the National Health Security Office (NHSO) to facilitate access to universal health care through Health Wallet on Pao Tang and improved hospital management systems as part of the Universal Health Care program.

In the health wallet, people can make appointments for medical services at nearby hospitals or medical units, view medical service history, use health identification QR codes to verify their identity and perform payments for excess charges that are not covered by universal health care. Pao Tang is also used in COVID-19 management projects; for example, people can request free antigen test kits, and residents of Bangkok can register to be vaccinated in Pao Tang.

We believe that digital technology is the key to improving the lives of Thais

We have also partnered with various hospitals to launch the smart hospital model where healthcare technologies, such as automatic check-in kiosks, AI chatbot for patient screening, telemedicine, and a clearinghouse system. Blockchain-based health information is used to help them better serve their customers. and improve their efficiency. In addition, as we realize that having strong research and development capacity will benefit the country in the long run, we have provided financial support to King Mongkut Institute of Technology in Ladkrabang to help build King Mongkut’s Chaokhun Thahan Hospital and transform it into an innovative center into a hospital and medical research and development center that will improve the country’s healthcare industry and reduce dependence on imported technologies. All of our efforts in the health and wellness ecosystem help to ensure healthy living and promote the well-being of Thais.

3. Educational institutions and students
The bank has partnered with universities under the “Smart University” project to develop a cashless society within the university by providing cash management solutions on the Krungthai digital platform and installing facilities. cashless payment in universities. University-specific mobile applications are developed to help students and staff manage their university-related tasks and activities.

For example, students can view class schedules and recording classes, receive class-related notifications, view an unofficial transcript, use the app as a virtual student card, and make payments. It helps students and staff learn about the digital way of life and prepare them for the digital economy and Thailand 4.0.

4. Transport
Transportation is one of the most important activities in people’s daily lives, which is why we aim to make paying fares and tolls easier, faster and more convenient by making them cashless and creating a common ticketing system that includes different public transport services.

We have installed QR and EDC code payment machines on the buses so that commuters can pay with a credit or debit card, a government welfare card in which low-income people receive financial assistance, a BMTA contactless prepaid card or by scanning a QR code.

We have installed contactless payment terminals on the smart ferries so that the fare payment can be made using a debit or credit card as well as a HOP prepaid card. As for highway tolls, motorists can easily pay tolls with cards and we are currently developing a free flow toll collection system that will significantly reduce congestion at toll booths.

With the aim of creating a common ticketing system that connects trains, buses and ferries, we have developed the ‘Mangmoom Card’, a debit card that can be used to make payment for tickets within the ticketing network. common “Mangmoom”, which currently includes the blue card and purple lines of the MRT trains. The network is expanding and will cover more transit options in the future.

5. Payment
We have upgraded the Krungthai NEXT mobile banking app with cloud native technologies to make the app scalable, stable and secure, making life easier for everyone. The application can handle massive simultaneous transactions while providing a stable and transparent user experience as well as maintaining the highest level of security. One of the main features of Krungthai NEXT is its bill payment service, which covers the largest number of beneficiaries in the public and private sectors, thus covering the payment needs of our customers in a single mobile application.

The Krungthai e-Donation platform was developed to simplify giving for both donors and organizations receiving donations. When a donation is made via QR code payment, the donation file is submitted directly to the revenue department, eliminating red tape and making it easier to claim tax deductions for the donation.

Go local, grow local
Leveraging the bank’s strengths in financial literacy and a strong range of products and services, we, along with expert partners in different fields, engage with local communities to help them develop their local businesses and capacities. , by promoting the sustainability of communities.

Koh Tao, better together
Krungthai Bank has partnered with UNDP Thailand and the Raks Thai Foundation as part of the “Koh Tao, Better Together” campaign to help boat operators in Koh Tao who have been financially affected by the travel ban. due to the pandemic. We used our e-Donation platform, which made the donation process more convenient and improved the transparency of crowdfunding. The money raised was used to hire boat drivers to clean up beaches and pick up debris, which helped Koh Tao nature to recover and promote a harmonious and sustainable life with nature.

We have prepared and prepared ourselves and the country for the next large-scale digital economy by continuously developing financial service platforms across the five ecosystems that meet customer needs and using technology to reduce inequalities and promote social and environmental sustainability. . All of these efforts reflect our continued determination to achieve and stay true to our #GrowingTogetherForSustainability vision.


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