The development of PromptBiz, the digital financial and payment infrastructure for business, is one of the Bank of Thailand's goals to address the lack of payment services that meet the needs of the business sector and bring it into line with global standards. The PromptBiz system will allow entrepreneurs to access funding sources and other innovations in the future, while also reducing the fixed costs and expenses of managing paper documents in a completely digital format. Promptbiz also instantly and accurately checks documents, helping to make work processes more efficient and increasing the efficiency of the lending process, examination of tax documents and reliably analysing data in line with international standards.
Ms. Ninlawan Jeeraboon, Krungsri Head of Transaction Banking Group said "We are delighted to be a part of the pilot program that will help enhance the country's business sector, especially during Thailand's transition into the digital age. We bring our expertise and ideas to support the development and implementation of the PromptBiz Standard Message which will be a crucial starting point for software operators in Thailand to adopt the initial version of the Standard Message and support information management of the PromptBiz system. Additionally, our collaboration with the Bank of Thailand reflects Krungsri's Commercial Banking Solutions strategy, which focuses on offering payment and commerce solutions for businesses that will help them effectively manage trade information under the same standard, which will eventually contribute to the country's journey towards a truly digital economy."
PromptBiz is currently in the development and testing phase by a service provider in collaboration with six partner banks. The pilot system includes various services such as sending and receiving invoices, e-Tax invoice and e-Receipt exchange service, Bulk Payment system, and lending support services for SMEs which verify invoices and check double financing.
Source: Spark Communications
