Bangkok Bank encourages customers to use digital banking instead of branch counters while increasing the efficiency of its CDMs to enable bill payments, top ups and cash change

Stocks and Financial Services Press Releases Friday October 19, 2018 11:16
Bangkok--19 Oct--Bangkok Bank

Bangkok Bank invites customers to use digital channels for transactions to reduce the amount of transactions at their branches in order to save costs and capture new customers. The bank has recently kicked off its project to increase the efficiency of its Cash Deposit Machines (CDMs) to enable bill payments, top ups and cash change. Meanwhile, the bank plans to upgrade its CDMs to further serve a variety of demands.

Bangkok Bank Executive Vice President Prassanee Ouiyamaphan said that the bank is supporting the government's policy to encourage consumers to adjust themselves to a digital society. To this end, the bank has provided customers with transaction services via digital channels to reduce the amount of transactions at its branches. This will provide our customers with greater convenience and impressive experiences and, at the same time, will prepare them, especially those who are not familiar with digital channels, to be ready for today's financial world in which most consumers use digital channels for their transactions. This is also in line with the bank's focus on financial innovation with the aim of being a leader in financial technology while simultaneously supporting government policy on developing the financial system.

"Transactions via digital channels not only provide customers with greater convenience, but also help the bank to save costs, especially those from uncomplicated transactions such as bill payments and top up services. The cost of digital channels is much lower than that of branch channels. At the same time, when the amount of transactions at the branch decreases, the bank will be able to further develop other operations such as financial advisory and planning services."

In line with this policy, the bank has improved the efficiency of its CDMs to enable bill payments, top ups and cash change in order to provide its customers with greater convenience. Customers can easily do a variety of transactions by themselves via this channel. They don't have to wait in line at the branch, so they will gain more impressive experience from the service.

This project will be piloted at CDMs from October 19, 2018 at five branches: Siam Paragon, Fashion Island, Talad Thai, Central Pinklao and Soi Ari. At the beginning, the machine will support bill payments for some billers and will gradually increase the number of billers to meet customers' needs.

"There are many customers who would like to pay the exact amount shown on their bills and so up to now have needed to make a transaction at the bank's counter and face a long waiting queue. As such, the upgrading of CDMs will serve various transactions and is in line with consumer behavior, supporting the shift in transactions from counter to digital channels, as well as introducing innovation and technology to provide customers with more efficient service."

Mrs. Prassanee also said the upgrading of CDMs for bill payments, top ups and cash change are part of a development plan for CDMs to provide convenience to customers. The bank also has additional development plans to support other services in 2019.

"When customers make transactions via express banking channels, the bank can suggest to them the next step of transactions via other digital channels such as Bualuang mBanking. It is also an opportunity to approach new groups of customers who can easily pay bills and top up without having a Bangkok Bank account or ATM card," concluded Mrs. Prassanee.

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