Bank of Ayudhya PCL and its group companies in Thailand — collectively known as Krungsri — has announced the development of innovations under its ‘Think Digital First’ concept, which involves the implementation of blockchain technology and deep learning AI.
At the recent Bangkok FinTech Fair 2019 held on July 18th – 19th, 2019 in the capital, Thakorn Piyapan, Chairman of Krungsri Consumer and Krungsri Head of Digital Banking and Innovation Division, revealed that the financial institution is developing innovations with the aim of enhancing business platforms for retail and corporate customers.
“At the Bangkok FinTech Fair 2019, Krungsri showcased innovations, technologies, and initiatives in line with the latest digital transformation and consumer lifestyle changes in order to enhance service efficiency to a wide range of customers,” Thakorn said.
The bank said that it has adopted blockchain and AI technologies to develop a convenient, transparent, and flexible purchasing and sales system for corporate customers, including major distributors and networks of small retailers in the supply chain.
During the fair, Krungsri showcased its AI technology by using deep learning to display product data. Another initiative called the Krungsri Supply Chain on Blockchain & AI has already been commercially implemented for domestic cement supplier Siam City Cement PCL’s major distributors, as well as its retail outlets.
At the event, the banking group also revealed its strategic partnership with MUFG through the introduction of a cross-border QR code payment system. The QR code has been offered to Thai consumers shopping at the famous Takeya shopping mall in Tokyo, Japan, allowing them to purchase goods and services with even greater convenience.
About Asia Blockchain Review
Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.
Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.
Follow Asia Blockchain Review on:
We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us