Thiyachai Chong, Head of Wealth & Preferred Segment, and Rachamol Polintara, Head of Consumer Strategy and Decision Management at CIMB Thai Bank, represented the bank in receiving the award at the Asian Banking & Finance Retail Banking Awards Dinner held on 25 July 2023.
These awards celebrate the bank's outstanding efforts in driving digital transformation within the wealth management sector and implementing a data-driven personalization initiative through its Intelligent Campaign Management System (iCAMS).
For four consecutive years, CIMB Thai has secured the title of Wealth Management Platform of the Year - Thailand, a testament to its unwavering commitment to exceeding customer expectations and adapting to challenging circumstances, even amidst a post-pandemic environment. Notably, in 2022, the bank witnessed a remarkable 36% YoY increase in wealth-related non-interest income. Additionally, the total wealth AUM experienced a robust 6% YoY growth, accompanied by a 10% YoY expansion in the affluent preferred customer base.
A key highlight of the bank's digital ecosystem is the comprehensive digitization of the customer journey. Noteworthy achievements include a significant surge of 274% in digitally distributed primary bond volumes through the mobile app, enhancing accessibility and elevating the overall customer experience.
Furthermore, the bank integrated its advisory research into the myPreferred application, ensuring affluent customers have access to crucial research insights regardless of their location. Within the myPreferred app, CIMB Thai introduced linked privilege benefits based on customers' investment activities, further enriching their financial journey.
In a remarkable move towards offering a comprehensive digital wealth management solution, the bank successfully launched a digital insurance brokerage service on its digital banking app in 2022, providing customers with even more accessible and seamless wealth management services.
Source: CIMB Thai Bank