Product and Service Development
Our product and service development process begins with a study of market trends and customer needs; designing and defining details; assessing and managing the risks involved, such as money laundering, personal data protection and data security, as well as ensuring compliance with regulatory standards and regulations, and prototyping products and services. However, as newly developed digital products and services may have some issues, as well as unexpected risks or consequences, we first test them in a small focus group. We tested products by ourselves and also participated in the Bank of Thailand’s Regulatory Sandbox. We monitored test results and made necessary enhancements to ensure our products and services comply with regulatory standards or regulations and are safe, easy to use and truly beneficial to users.
Products and Services
Bangkok Bank Mobile Banking
We have continuously developed our mobile banking application. The product has been redesigned with new, more modern and easier to use features added to support the lifestyles and fulfill the needs of customers. In 2021, we added new services and features to meet the investment and financial needs of customers.
Mobile ID Verification Service via the atta Application
Mobile ID is a form of Digital ID that connects a mobile phone number with a data set from an ID card, enabling customers to use a mobile phone number to verify their identity. In 2021, we started to provide identity verification services with Mobile ID. Customers of mobile network operators AIS, DTAC, and TrueMove H, who have applied for the Mobile ID service and successfully verified themselves with a network operator, can use the Mobile ID to verify their identity through a smartphone application called atta, developed by us (for both iOS and Android operating systems), to open an online account and apply for our mobile banking service. Mobile ID can also be used to verify the ownership of a mobile phone number when opening an account at one of our branches. This verification allows customers to conduct various transactions conveniently and securely as we have adopted sophisticated technologies such as blockchain and multi-verification components to support our services.
We have launched the BeMerchant NextGen service, a cashless QR Code payment system, to manage sales and payment for various merchants including informal vendors. A merchant is able to receive payments via QR Code covering all platforms such as PromptPay, Visa, MasterCard, UnionPay, TPN, and WeChat Pay or Alipay, in real time which helps to avoid contact with cash and reduces the risk of transmitting Covid-19.
We have developed Bualuang iSupply, a comprehensive online financial service for trading networks which integrates payment/receiving payments for goods and services with online short-term revolving credits, enabled by the use of technology systems, to provide easy and convenient access to finance. The system, which utilizes actual trade data submitted by sponsors, covers two areas of service: Dealer Payment and Finance, and Supplier Payment and Finance. Bualuang iSupply service can create mutual benefits for all parties in the business network. A sponsor has the opportunity to expand their business with their counterparties and reduce the inconvenience of paper financial transactions. The service helps to encourage suppliers/dealers which are mostly SME that have limited access to financial institutions' funding due to lack of collateral and insufficient information to apply for loans with favorable conditions. The Bualuang iSupply service can also help save time for both the sponsors and suppliers/dealers as transactions can be made 24 hours a day. It helps create competitive advantages for the business and promote sustainable business growth.
Corporate iCash is an online banking service for facilitating corporate customers. It can support a variety of transactions, such as browsing accounting reports, money transfers to partners and employees, transaction statement inquiry, and intra-group transactions as well as accepting payments that are convenient, fast, and secure. We provide the service to two groups of customers: 1. Domestic corporates; and 2. Corporates having or expanding businesses overseas which have accounts with our overseas branches.