KASIKORNBANK (KBank) onboarded two million new users on its K PLUS online banking app in 2022, more than a million of them were new to the bank itself.
The surging use of its digital platforms with 98% of all KBank’s transactions now being conducted online follows the launch of its challenger bank programme six months ago.
The programme aimed to boost access to loans and services among Thailand’s approximately 30 million unbanked and underbanked population.
The transactions on K PLUS had also grown rapidly and reached almost Baht 10 trillion in 2022. KBank said that it recorded more money transfers in its K PLUS digital banking app compared to all of its other channels combined, including the physical branches, e-machines, and banking agents.
Moving forward, KBank will be enhancing its security features for the K PLUS app as well as increasing its ability to detect and prevent unusual transactions.
Kattiya Indaravijaya, Chief Executive Officer, KASIKORNBANK said,
“The number of online transactions has increased with a million more transactions being conducted every hour. That adds up to a stunning 11 billion more transactions during 2022 than in the previous year.
This places huge responsibility on us to stay at the forefront of technology to ensure that users get access to banking products and services like never before, and, of course, with outstanding system stability, because our vision extends beyond Thailand and our goal is to be the leader in providing digital banking services, regionally.”
