Infinitas’s Board of Directors
Thailand Krungthai Bank has announced the launch of Infintas, an R&D company for digital innovations in financial products.
As a subsidiary of Krungthai Advisory, Infinitas was incorporated with a capital of THB 300 million (US$9.84 million).
Building around an agile and resilient culture, Infinitas will place innovation at the core of its operations. As part of Krungthai’s plan to drive the Kingdom towards a digital economy, Infinitas will seek to utilise Artificial Intelligence and Machine Learning technology to develop financial platforms in the healthcare and tourism industries.
The subsidiary will also focus on expanding Krungthai’s five ecosystems and utilising the bank’s Big Data to create customised customer solutions and sustainable growth for the bank.
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Leveraging on Infinitas’s digital solutions, Krungthai’s user base of over 40 million customers and partners can look forward to leading digital solutions and open digital banking services.
Krairit Euchukanoncha, Vice Chairman, Krungthai, said that Infinitas’s digital solutions will prove crucial in fighting against inequality and corruptions within the Kingdom. Its recent launch of the Paotang app, consisting of functions including a Health ID and digital wallet, has enabled the government to distribute support packages efficiently and transparently to the general population.
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Somkid Jiranuntarat, Advisor to the Managing Director of Krungthai Bank, shared that customer demands will evolve and personalised solutions will be the new normal.
Therefore, financial institutions will need to revamp their offerings to adapt to this change. They need to ensure stakeholders within the ecosystem, from individual customers to small and medium enterprises (SMEs), can capture the benefits of a digital economy to propel economic growth within Thailand.
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Image Credit: Infinitas
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