Kasikornbank is doubling the variety of foreign-denominated currencies to 12 in KBank’s worldwide cash switch service through cell banking app Ok Plus, masking 30 nations.
The nation’s largest cell banking app by customers will be capable of ship cash to nations internationally by year-end, mentioned senior govt vice-president Silawat Santivisat.
The 12 currencies embrace the US greenback, the Singaporean greenback, the Australian greenback, the Hong Kong greenback, the euro, the British pound, the Philippine peso, the Indonesian rupiah, the Vietnamese dong, the South Korean gained and the Malaysian ringgit.
The bank’s outward remittance service by Ok Plus earlier was in a position to switch to recipients in 24 nations.
The upper variety of currencies is because of an utility programming interface collectively developed by the bank and Nium, a Singapore-based remittance fintech through which Beacon VC has invested.
Beacon VC is a company enterprise capital fund wholly owned by KBank.
For the reason that bank’s outward remittance service launched in Might 2019, it has obtained a heat response from new customers, Mr Silawat mentioned.
Some Four billion baht was remitted overseas after the service was unveiled. Many of the transferred cash was for schooling, funds, immigrant employees’ remittances and remittances to members of the family residing abroad.
KBank dealt with 25% of the nation’s low-value remittance whole in 2019. The bank goals for 60,000 outward remittance transactions with a mixed value of 10 billion baht a yr by 2025.
Senders could make transactions any time, anyplace with out visiting a department. There isn’t any have to current paperwork when utilizing the service.
Till June 30, 2020, KBank will cost a particular payment of 250 baht per transaction, down from the common price of 450 baht.
KBANK shares closed yesterday on the Inventory Trade of Thailand at 87 baht, up 4.75 baht, in commerce worth 2.28 billion baht.