"Since Krungsri has successfully acquired a 50% stake of ownership in SBF on October 20, 2020, we have been supporting SBF through our expertise and leadership in Thailand's consumer finance encompassing product development, marketing, and sales channel enhancement as well as risk management. We are set to launch multiple products this year. This also further cements Krungsri's strategic partnership with Security Bank to foster financial inclusion in the Philippines and demonstrates Krungsri's commitment to our ASEAN expansion strategy toward our aspiration to 'be the preferred Thai bank connecting customers' needs across ASEAN'," says Mr. Dan Harsono, Senior Advisor of Krungsri.
"SB Finance's goal is to create products and services to support the average Filipino and the small businessmen in their financial needs while creating a customer-centered journey in the new digital normal. To do this, we needed a strong partner who has an extensive experience in the field of consumer finance who can guide us in the right direction," says SB Finance President and CEO, Abbie Casanova.
Set to roll out various loan products, SBF's "In here, you can!", a short and simple tagline, aims to raise awareness about SBF's loan products as more Filipinos look for a reliable financial partner that can help them bounce back from the effects of the pandemic.
In February 2021, Krungsri and SBC have obtained board approvals to infuse P3-Billion into SBF upon receipt of requisite regulatory approvals. The additional capital will be used to fund investments in the latest cloud-based technology to support end-to-end customer journeys that are built on continued digital transformation.
Source: Bank of Ayudhya