Bangkok Bank invited a leading corporation to share their digital transformation success story to inspire SME customers to adopt digital technologies that would lower their costs and increase their competitiveness while building resilience for future challenges. As a “trusted partner” the Bank provides entrepreneurs with knowledge and financial support to grow sustainably.
Bangkok Bank Executive Director Dr. Pichet Durongkaveroj said Bangkok Bank is committed to continually promoting knowledge among SME operators, particularly on the subject of digital transformation, which is a key challenge for medium and small sized businesses. Many SME are unaware of the changing trends while others do not know how to begin their digital transformation. Therefore, Bangkok Bank collaborated with a large business partner to share their experience and knowledge about technology adoption with SME customers and help them take the first step toward digital transformation.
“As a leading regional bank, Bangkok Bank’s competitive strength lies in leveraging its strong and comprehensive customer network by sharing the experience of large corporates which can inspire SME to adapt. Meanwhile, the Bank supports the Bualuang SME Club which has collectively built a strong and growing network of entrepreneurs since 2003 with more than 2,000 members across the country actively working together under the slogan of “Good relations, strong network, building knowledge, supporting businesses”. This strengthens the Bank’s role as a trusted partner who sustainably grows together with customers,” said Dr. Pichet
Mr. Withit Wiwat, Division Director – Information Technology (CIO), TCP Group, Thailand's leading manufacturer and distributor of consumer goods, advised entrepreneurs that digital transformation is necessary if they are to be competitive in the digital era. This should focus on three components: Personnel, people are the key agents of change and they must have a clear common goal to build internal and external cooperation to exchange knowledge and resources to solve problems and innovate. Tools and technology to increase productivity to achieve goals. Efficient transition process to use tools to increase productivity and work efficiency, facilitate and reduce workload and redundant systems, save time and money, and create a positive customer experience. These are the aims of a digital transformation - not to replace personnel.
“The main reason why digital transformation fails is that people focus on adopting methods or tools first and these may not be appropriate for the goals of the organization. Therefore, leaders must start by exploring the actual needs of their organization and setting clear 3-5 year goals to identify the changes it wants to make for customers, the organization, and employees. Then it needs to consider the method and tools it needs to carry out the plan. Entrepreneurs also need to be open to new experiences or having mentors and Bangkok Bank is providing a good opportunity for this," said Mr. Withit.
In addition to supporting a variety of knowledge to encourage entrepreneurs to adapt and enhance their competitiveness in the digital era. Bangkok Bank also provides financial assistance through loan services with special interest rates, including:
- The Bualuang Green Loan is available for up to 50 million baht with a repayment period of up to eight years. This loan is designed for SME seeking to invest in business improvements and processes to minimize their environmental impact. It includes the efficient recycling of materials.
- The Bualuang Green Solar Energy Loan provides financing for up to 100% of an investment that meets special conditions such as reducing costs and moving to alternative energy sources.
- The Bualuang Transformation Loan has a fixed interest rate of 5% per annum and a maximum repayment period of five years. This loan is designed for businesses aiming to modernize their operations for the digital era and the Next Normal such as the adoption of digital technologies, environmentally friendly practices, or innovations. A total amount of 20 billion baht is available for this loan.
Those interested in the Bangkok Bank Transformation Loan from February 1, 2024 - January 31, 2025 (or until the loan fund is fully utilized), please contact a business relations officer at any business office or branch nationwide or contact Bangkok Bank Call Center 1333 or 0 2645 5555.