“Vietnam has tremendous purchasing power thanks to its huge tech-savvy, working-age group, which comprises 60 percent of its total population of 100 million. Given this abounding opportunity, KBank aims to take a digital-first strategy to emerge in Vietnam market.”, Ms. Kattiya Indaravijaya, KBank’s Chief Executive Officer, said at the bank’s grand opening ceremony in HCMC.
KASIKORNBANK (KBank), has recently inaugurated its tenth and newest overseas branch in HCMC. The bank also announced a series of new digital solutions available to its customers in Vietnam.
Following SBV’s policy to improve its payment acceptance system via digital means, KBank invested towards a cashless society, KBank has capitalized on its technological capabilities to create a digital lifestyle ecosystem for our customers in Vietnam. A greater emphasis will also be placed on cashless payments and digital loan products, beginning with KBank Biz Loan for small retail stores, Ms. Kattiya said. The bank has the abilities to enhance regional connectivity in AEC+3 countries by offering full-fledged digital solutions to all customer segments, including small and large businesses and local and international investors operating in trading, services, basic infrastructure, and industrial sectors.
Foreign banks entering Vietnam will bring value to Vietnamese startup ecosystem. In case of KBank, its support programs for startups and the ecosystem, will help Viet startups take advantage of the relationship and ecosystem brought by the bank. KBank also has an active investment fund in Vietnam – KVision Investment Fund – has invested in Seedcom, KiotViet, Sendo, Selly…, according to Vy Le – Co-founder of DO Venture. KBank has also established KBTG Vietnam, a subsidiary of KASIKORN BUSINESS – TECHNOLOGY GROUP, to serve as a research and IT system development center for KBank in Vietnam.
“With KBank’s entry into the Vietnamese market, we will be able to deploy our services through foreign branches as well as our relationships with locally incorporated institutions, representative offices, and leading startups in Vietnam. KBank is confident that we will be able to deliver convenient and fast services to meet the needs of all customer segments in Vietnam,” Ms. Kattiya added.