Krungsri Auto announces strategic directions on data-driven solutions, innovation, and ecosystem

Friday 19 March 2021 14:34
Krungsri Auto, a leader in automotive finance under Bank of Ayudhya PCL, today announced 2021 strategic directions with an ambition to propel the business towards sustainable automotive finance leadership. Under this approach, Krungsri Auto aims to deliver data-driven solutions to win over customers' hearts, strengthen innovation capabilities to support automotive partners' growth, and bolster the ecosystem to capture new business opportunities. The auto finance solution provider is confident that the market will gradually rebound, with positive momentum from the overall economy.
Krungsri Auto announces strategic directions on data-driven solutions, innovation, and ecosystem

Mrs. Kittiya Srisanit, Head of Krungsri Auto Group, Bank of Ayudhya PCL, said, "With private consumption and investment showing signs of picking up, Krungsri Auto foresees the gradual recovery of the new car market, with the estimated annual sales of 810,000 units, which is the year-on-year growth of 2.5%. The auto finance market is also expected to grow at a comparative level of 1.5%, with the projected total market value of 494,000 million baht. For Krungsri Auto, 2021 marks the first year under the Medium-Term Business Plan (MTBP) 2021 - 2023. We will put a greater focus on three key strategic areas to answer the needs of not only customers and automotive partners but also automobile users within the ecosystem of our new business model."

Under the first strategy, Krungsri Auto will drive its business through in-depth data to deliver ideal solutions for customers. By leveraging its robust customer database, the auto finance service provider aims to create more personalized products and services. Unique offerings will be designed to suit each individual's lifestyle and life stages, while do-it-yourself features will allow customization according to customers' preferences.

Additionally, Krugnsri Auto plans to accelerate innovation capabilities to grow alongside automotive partners. Digital platforms will be enhanced to enable more efficient operations to support car and motorcycle dealer partners' businesses. Existing innovation will also be utilized as sales tools for dealers, both for their online and offline channels.

Establishing the new business model to reach a broader group of automobile users is among Krungsri Auto's key success drivers. This year, the solution provider will bolster its ecosystem to capitalize on new business opportunities. GO Application by Krungsri Auto remains the central platform for delivering all of its digital products and services, particularly the end-to-end digital auto lending service. Moreover, Krungsri Auto will continue to strengthen its ecosystem partner network to provide automobile user lifestyle services, such as booking and repair services with top manufacturing brands and privilege programs with The 1.

"With our strong foundation and potential to grow, Krungsri Auto is well-positioned to maximize the wide-ranging opportunities that this year brings. We remain committed to the Responsible Lending practice in an effort to stand alongside our customers and automotive partners and put a greater focus on managing a balanced loan portfolio to reinforce the sustainable leadership in the automotive finance industry," concluded Mrs. Kittiya.

The New Experience with Krungsri Auto
Krungsri Auto, a leader of automotive finance business under Krungsri, offers a variety of loan services, including "Car for Cash", "Krungsri Rod Baan", "Krungsri New Car", "Krungsri Used Car", and "Krungsri Truck" operated by Krungsri Auto Group, Bank of Ayudhya Public Company Limited, "Krungsri Motorcycle", "Krungsri Big Bike", "Krungsri Used Big Bike", "Car for Cash Motorcycle", "Krungsri Inventory Finance" as well as insurance services by "Krungsri Auto Broker", operated by Ayudhya Capital Auto Lease Public Company Limited.

Customers can access these financial services through Krungsri Auto's 51 branches and the Bank of Ayudhya's branches nationwide, and Krungsri Auto Call Center (tel. 02-740-7400, press 1). Visit www.krungsriauto.com or www.facebook.com/krungsriauto for more details.

Source: FleishmanHillard Thailand