BBL accelerates digital adoption plan

BBL accelerates digital adoption plan

Bangkok Bank joined Nest and Bualuang Ventures to choose eight tech startups from its second global accelerator programme, Bangkok Bank InnoHub Season 2.
Bangkok Bank joined Nest and Bualuang Ventures to choose eight tech startups from its second global accelerator programme, Bangkok Bank InnoHub Season 2.

Bangkok Bank (BBL) has sped up its digital adoption plan to develop financial innovations that serve demand in regional markets.

The bank has been developing new digital technologies and innovations to upgrade financial services in the digital age.

For next year, BBL will accelerate digital development in line with the changing landscape of the banking industry and consumer lifestyles, said executive director Charumporn Chotikasatien.

BBL, the country's largest lender by total assets, is also focused on digital development in regional markets.

Partnership is a key strategy to support the bank's digitisation plan, Mr Charumporn said.

The bank, under collaboration with Nest and Bualuang Ventures, on Wednesdayannounced eight outstanding tech startups selected to join its second global accelerator programme, called Bangkok Bank InnoHub Season 2.

Selected from 128 applications from 28 countries, the eight startups will kick off the programme in December.

Under the concept of "Inspiring Change -- Unleash the Potential", BBL and Nest will provide an intensive mentoring programme for these startups, using expertise from local businesses and financial services.

Over the course of 12 weeks, the eight teams will join a comprehensive, uniquely designed accelerator programme.

The startups will also have a chance to work with other companies in the BBL financial group, along with the opportunity to raise funds through the bank's business networks.

Pao Sriprasertsuk, BBL vice-president and head of Bangkok Bank InnoHub, said the bank expects to adopt more new financial innovative services under the accelerator programmes for both Season 1 and Season 2.

For Season 1, the bank adopted robo-advisers for its subsidiary Bualuang Asset Management under cooperation with FundRadars. It also rolled out a pilot project for innovative wealth management services.

"For Season 1, we have adopted only one service that has quite a slow pace [of development]," Mr Pao said. "We will gain momentum and expect to launch more innovative services next year."

The bank will pay attention mainly to artificial intelligence development in 2019, he said.

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