“Vietnam has tremendous purchasing power thanks to its huge tech-savvy working age group, which comprises 60 percent of the total population of 100 million. Given this bountiful opportunity, KBank is pursuing a digital-first strategy to enter the Vietnamese market,” said Ms. Kattiya Indaravijaya, Chief Executive Officer of KBank, during the bank’s grand opening ceremony in HCMC.
KASIKORNBANK (KBank), recently inaugurated its tenth and newest overseas branch in HCMC. The bank also announced a range of new digital solutions available to its customers in Vietnam.
Following SBV’s policy of improving its payment acceptance system through digital means, KBank has invested in a cashless society, KBank has capitalized on its technological capabilities to create a digital lifestyle ecosystem for our customers in Vietnam. More emphasis will also be placed on cashless payments and digital loan products, starting with KBank Biz Loan for small stores, Ms Kattiya said. The bank has the capabilities to improve regional connectivity in AEC+3 countries by providing full-fledged digital solutions to all customer segments, including small and large companies and local and international investors active in trade, services, basic infrastructure and industrial sectors .
Foreign banks entering Vietnam will add value to the Vietnamese startup ecosystem. In the case of KBank, the startup support programs and ecosystem will help Viet startups take advantage of the relationship and ecosystem brought by the bank. KBank also has an active investment fund in Vietnam – KVision Investment Fund – has invested in Seedcom, KiotViet, Sendo, Selly…, according to Vy Le – co-founder of DO Venture. KBank also established KBTG Vietnam, a subsidiary of KASIKORN BUSINESS – TECHNOLOGY GROUP, to serve as a research and IT systems development center for KBank in Vietnam.
“With KBank’s entry into the Vietnamese market, we can leverage our services through overseas branches and our relationships with local institutions, representative offices and leading startups in Vietnam. KBank is confident that we can provide convenient and fast services to meet the needs of all customer segments in Vietnam,” added Ms. Kattiya.