KBANK the role model of business transformation for Asia-Pacific region
In 2021, KASIKORNBANK won 4 major awards from the IDC Future Enterprise Award 2021 global stage, both in the Asia-Pacific region and Thailand.
It also received the “Best in Future of Digital Infrastructure” and “Best in Future of Industry Ecosystem” awards.
From their success as a leader in driving Kasikorn Bank in the past period Ms. Kattiya Indaravijaya, Chief Executive Officer Kasikorn Bank, therefore received the Best CEO in the Financial and Banking Industry award from the Bangkok Post CEO of the Year 2021 stage.
KBank (KASIKORNBANK) is an organization with great potential in developing and implementing the “Digital Transformation” strategy. It overcomes the challenges and disruptions of the digital economy in the changing world. Also showed the flexibility to adapt using the potential of digital technology to meet the key challenges in stepping into the new world.
In the past, Kasikorn Bank or KBank has had well-known digital services such as K PLUS, the number one financial app in Thailand with more than 20 million active customers in the first quarter of 2022, LINE BK, a financial service on LINE application that has been used by 50 million Thais and 3.2 million have opened an account, including Khun Thong, a chatbot in LINE application that helps you calculate money with more than 1 million active users.
The beginning of KBank business transformation started in 2016 with the establishment of KBTG or KASIKORN BUSINESS-TECHNOLOGY GROUP, a technology company that develops innovations and is behind every technology of KBank to separate (Spin-off) from KBank and to develop and coordinate potential technology for the parent company.
Transformer Map (Source: Ethan Than, & Dr.Nattaporn Virunhagarun. (2022). TRANSFORMER PLAYBOOK. www.transformerplaybook.com.)
Business Transformation of KBank
The business model can be divided into 2 parts:
Part 1 Traditional Banking Business (Commercial Bank, Securities Business and Related Businesses)
Part 2 New S-Curve Business
Box 1 and 2:
Current [Core Business] + Current [Market] + New [Market]
KBank drives the traditional banking business (Commercial Bank, Securities Business, and Related Businesses) with digital banking services to maintain a leadership position in payment services on all digital platforms and support all types of payments in the customer ecosystem, serving customers in both individual and SME groups, corporate and overseas business. Well-known services such as K PLUS, K PLUS shop, K PLUS SME, K BIZ, LINE BK, Khun Thong, etc.
Box 3 and 4:
New [Core Business] + Current [Market] + New [Market]
The "strategy" in 2020 that banking becomes a regional is different from the traditional KBank aims to the organization. With the company "Kasikorn X" (KX) business, the technology establishment of KX, which is a new company that will create S-Curve, generates new income for banks under KBTG that has more than 2,000 employees in the company.
Decode KBANK step-by-step business transformation with 9 boxes of Digital Transformation Canvas
