– KTC is ready to pass on the baton to the new generation of executives to develop the 3 main pillars: people-process-technology. Ready to optimize products and services Using AI (Artificial Intelligence) and RPA (Robotic Process Automation) technology to work seamlessly with people. Continue to make new high profits. and maintain the loan portfolio of all products to have quality and grow Building confidence among all group members,
Mr. Rathian Srimongkol, Chief Executive Officer of “KTC” or Krungthai Card Public Company Limited, said, “In 2024, KTC's journey will begin again. Ready to continue the good story To continue to happen by the new management team Starting with KTC, there will be a new Chief Executive Officer (CEO), Ms. Pittaya Worapanyasakul, who has worked with KTC for 26 years and will begin the new CEO role on January 1, 2024, including the management team. High level in various fields All of whom have been working with KTC for a long time. Has high experience and expertise in the job Understand organizational culture Importantly, there is full DNA of KTC. Therefore ensuring that this new management team will be able to pass on and carry on the duties and important missions of KTC to succeed smoothly and continuously,”
Mrs. Pittaya Worapanyasakul said about KTC business direction in 2024 and KTC's next steps. “We are ready to continue our vision and past successes. To pass on good stories to all stakeholder groups By doing business to continually increase profits Along with doing business responsibly, transparently, with good governance and continuing KTC's good corporate culture. which will be an advantage in doing business Whether it is about the organizational values (Core Value) that KTC people adhere to as a guideline for working, including 1. Dare to do the right thing, 2. Make it simple, not complicated, and 3. Do something meaningful and benefit Including cultivating a corporate culture of trust (Trusted Organization) in order to pass on confidence from within KTC to members, organizations, shareholders, and society.” “KTC still
sees opportunities for growth in all 3 lending businesses. The business is the credit card business. Personal loans and "KTC Pee Bem Car in Exchange" loans because we believe that there are still many consumers who need loans. KTC will focus on expanding its member base to those who primarily need credit. and do not induce members to have more debt than necessary This is in line with the guidelines for responsible lending (Responsible Lending) of the Bank of Thailand.
As for the KTC credit card business, which has seen good growth throughout 2023, it is believed that it will be able to continue expanding its new customer base. As for personal loans, they will continue to grow from new customer bases and current portfolios. which is a portfolio that is considered to be of high quality. As for the "KTC Pee Bem, Car in Exchange" loan, it is a product that KTC sees the potential to grow significantly in 2024 from cooperation in expanding the member base with Krung Thai Bank. As for the MAAI business by KTC (My by KTC), which is a business that provides a customer relationship management system (Customer Relationship Management-CRM) and a fully integrated loyalty platform for business operators (Loyalty Platform ) that we have been cultivating for a while. This is another goal that we aim to create growth for next year.”
“Leading the KTC business from now on will be based on 3 elements: People-Process-Technology starts with people, which are important cogs that we have always taken care of and given importance to. Next year, we will focus on developing and promoting the leadership of the new generation of executives to be even stronger. along with developing middle management By emphasizing the creation of leadership in order to jointly drive the organization towards the goals that have been set. For the process, emphasis will be placed on designing and adjusting work processes to be more concise and faster. To increase efficiency and reduce costs By focusing on members as the center Have an understanding of the needs of members and target customer groups in order to market. along with improving KTC products and services As for the technology KTC continues to give importance to the use of cloud (Cloud Computing) in the IT system structure. including data processing and storage which will be used even more And it will have a positive impact on safety, stability, flexibility, agility, speed, and efficiency in terms of operating costs and service quality. In addition, KTC sees an opportunity to bring in artificial intelligence (AI) technology to increase the potential of organization Whether it is improving the methods that KTC currently uses AI to make it usable better or starting to study, experiment and use Generative AI in various work processes That will increase efficiency in creating a good experience for members. or to improve the quality of the loan portfolio.”
“For the strategic plan for doing various businesses in 2024, it will include: KTC credit card business We aim to have 230,000 new card members and have card spending grow 15% from 2023. In 2024, we will focus on safety for members at every step of using card services. KTC credit By continuously developing the "KTC Mobile" app to allow members to conduct various transactions. quickly and safely, as well as expanding the credit card product "KTC Digital" (KTC DIGITAL CREDIT CARD) to better meet the needs of online use. By developing an online card application channel E-Application To reach the new generation of customers who spend most of their lives online. To be able to apply conveniently by oneself and still be safe regarding personal information For credit card member portfolio management, we will work proactively. so that members have continuous spending and is a quality customer portfolio Using the Marketing Automation system as a marketing tool to target customer segments. To present products, services, and communicate to the target group. However, we still focus on marketing among those with monthly incomes of 50,000 baht or more, which is a customer group that makes our overall spending grow well. We will also continue to create joint value (Co-creating value) with various business partners. More than 2,000 nationwide to provide benefits to card members. and find new opportunities To expand business together in every dimension sustainably, with KTC FOREVER points being the main feature in providing benefits to customers.” “Personal loans are also a business where
we focus on business growth along with quality loan portfolio management. In 2024, the target is to grow 5%. The number of "KTC Proud" cash card members will increase by 100,000, with two main strategic plans: 1. Recruiting quality new members. Focus on recruitment through online loan application channels. E-Application so that members can make transactions by themselves and know the approval results in real time Ready to receive money transferred into your account immediately. Including developing the recruitment process through KTC's and partners' websites 2. Creating a good experience in using cash cards for over 700,000 "KTC Proud" members, whether it be "swiping, transferring Press "Instalments" by adding the function of withdrawing and using the credit limit through the "KTC Mobile" app to support transferring money to PromptPay accounts. This is in addition to transferring money into accounts from many banks at present. Including still organizing campaigns "Clear Debt Completely" has been a hit with members for over 10 years to encourage and reward those who use credit with discipline. Get the chance to clear your debt with KTC.”
“The loan business “KTC Pee Bem Car Exchange Money” continues to emphasize the expansion of the loan portfolio. The goal is to achieve new loan approvals in 2024 at 6,000 million baht with 3 main strategies: 1. Focus on communication to build product awareness continuously throughout the year. With content that focuses on entertainment Easy access through online channels and social media, supplemented with offline advertising. and media in Krungthai Bank branches nationwide 2. Join forces with Krung Thai Bank to expand the customer base. Mainly through more than 900 bank branches, supplemented by the bank's online platform such as NEXT, money bags and wallets by "KTC Pee Bem, Money Changer" is the only loan product of Krung Thai Bank. that can approve transactions in real time Ready to receive money immediately. 3. Reinforcing and strengthening the product strengths of KTC Pee Bem, a money exchange vehicle, as the only service provider that provides a maximum credit limit of 1 million baht. Loan approval within 1 hour, ready to receive money immediately. and also expanding the base to new products “KTC P-Bem big bike registration loan” along with KTC P-Bem cash card as well.” “As
for MAAI by KTC, in 2024 there is a plan to expand the number of medium and large business partners to no less than 20. This will increase the number of MAAI members by approximately 2 million. The target partners of the MAAI platform will be in business groups that focus on creating frequency of returning to purchase products or use services again. The MAAI platform also offers a model. Providing a variety of services This will help merchant partners manage their customer relationships (CRM) more efficiently. There will be strategic development in 3 main areas: 1. Continuing the development of the platform New features or functions Responding to the needs of medium and large business groups 2. Increase efficiency and enhance the experience of using the MAAI by KTC app to be easier, more convenient and better. 3. Expand MAAI point redemption stores to cover the lifestyles and needs of MAAI by KTC members, with points redemption points covering all areas. Can connect every business and aims to create a strong business ecosystem (Ecosystem) for partners to grow together sustainably.” “
In terms of financial cost management, in 2024 KTC will continue to maintain a level appropriate to the economic situation. and acceptable risks It plans to raise long-term loans of approximately 13,000 million baht to support the expansion of its loan portfolio. Including supporting debentures and long-term loans that will mature approximately 11,850 million baht, making the ratio of short-term loans to long-term loans (Original Term) approximately 20:80 and financial costs approximately 3.1%, higher than By the end of 2023, it is expected to be at 2.8%.”
“Another important matter that KTC has always done and will continue to do is Developing knowledge and understanding for personnel in the organization To be able to create innovative products and services that meet the needs and build trust among stakeholders. For sustainable growth, such as the "KTC Digital Credit Card" that connects QR Pay and payments via various devices (Device Pay), which stands out as the first security innovation in Thailand. With a translucent appearance and no numbers on the card In addition, the number on the back of the card changes every time (Dynamic CVV/CVC2). The issuance of the "KTC Digital Credit Card" is also KTC's intention to help reduce the amount of plastic card waste in another way.
Source: Thai News Agency