The digital banking and social media leader Kasikornbank has launched askKBank.com, a search engine that is dedicated to answering queries on different financial matters.
Thai consumers are using social media more and more with 38% of Thais use the internet to look for information and social networking. Also, there was a 30% increase in the number of mobile users who connects to the internet using their mobile phones.
KBank is a leader in innovation when it comes to digital banking on mobile phones and other online banking services and now with the launch of askKbank.com makes them a clear provider of financial and lifestyle information. Additionally the search site also contains advice for spending, savings and investments as well as other economic information and reports.
KBank became a leader in mobile banking and internet banking because the company spends about THB 100 million to keep technologies up to date and find new ways to secure their mobile and internet banking services.
As of the latest count, the bank has more than 1.4 million users with 400,000 active users per month that take advantage of their internet banking services. The bank also has more than 1.2 million users with about 500,000 active users per month that use the bank’s mobile banking service.
It is estimated that about 30% of their customers use mobile and internet banking or about 2.7 million customers. By the end of 2012, KBank aims to increase the number of users to 3 million.
The bigger picture for KBank is that they have 50% of the market share when it comes to e-transactions over internet and mobile.
- 38% of Thai consumers use the internet to search for information
- 30% on the number of consumers that use their mobile phones to connect to the internet
- KasikornBank spends THB 100 million to upgrade their technologies and security for mobile and internet banking
- KBank’s internet banking users: 1.4 million and 400,000 users per month
- KBank’s mobile banking users: 1.5 million and 500,000 users per month
- 30% or 2.7 million of KBank’s total customer base use mobile and internet banking
Wiwan Tharahirunchote, Chairperson of Kasikorn Research Center Co., Ltd: “Thai consumers are tending to spend more time using online media, as the latest study showed that at least 38 percent of Thai people are using the internet for information searches and social networking. Additionally, there was a 30-percent increase in the number of mobile phone users who surfed the net via their mobile phone, compared to last year.”
Art Wichiencharoen, First Senior Vice President of KASIKORNBANK: “KBank aims to maintain its number-one position in the digital banking market with three business strategies, including providing a channel for convenient and safe transactions, a channel for diverse payment types and a channel for access to useful information. The user-friendly askKBank.com is a search engine innovation which is part of the bank’s digital banking strategy to satisfy customers’ needs in various financial matters, particularly through in-depth information from Kasikorn Research Center and other KGroup companies.”
We invite you to watch this promotional video (in Thai) of AskKBank.com.
For the last couple of years, my team has closely followed Kasikornbank’s activity in the social media space: the Thai bank has pushed the digital engagement envelope -via their dedicated ‘KBank’ brand- with successful initiatives on facebook like the ‘CIMB YOUth app‘ or the ‘Battle of the Bands‘ contest. The bank is also leading our Twitter Top 10 EMEA. And Kasikornbank promotes its social media activity in traditional media.
Launching ‘askKBank.com‘ is a clever way for the bank to create some buzz online, and build another web domain displaying a number of ad banners promoting their products and services.
Having said that, unarguably, search is broken on most financial institutions’ websites. And contrary to European or US banks which usually offer content in just a couple of languages, here Kasikornbank offers content in no less than four languages including three complex -non roman- ones: Thai, Chinese and Japanese.
The platform also provides a better -more intuitive- customer experience and a much improved visualisation of the content flagged by language, financial area and create date.
If this service is not technically innovative, this is a smart move from KBank, don’t you think?
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