On June 17, 2020, Kasikorn Vision Information Technology Co., Ltd. was registered and established in Luohu. This is a wholly-owned technology company established in Shenzhen by Kasikorn Bank Group (Thailand), and the first financial technology company established by a foreign bank in Shenzhen.
KTech was settled in Luohu District, Shenzhen on June 17, 2020. the first financial technology company initiated by a foreign bank.
KTech has registered capital of 300M RMB, and will mainly carry out business like design and build information technology system, research new technologies and business models that are conducive to Digital Banking and digital economy systems, develop and test prototype products, and apply technology to provide new financial technology services (fintech).
KBank (China) is the first ASEAN foreign legal person bank headquartered in Shenzhen. KASIKORN VISION LIMITED COMPANY, as the wholly owned subsidiary of KASIKORNBANK, will contribute 100% to be the solo shareholder of KTech, which provides Fintech services (such as big data, AI and block chain etc) as well as promote economic and financial collaboration among SINO-AEC.
As a financial group with a history of more than 70 years, KBank was founded in 1945 with its headquarter in Bangkok, Thailand. KBank is a comprehensive financial holding group covering banking, insurance, securities, financial leasing, equipment financing, fund management, research and technical services. Meanwhile, KBank also holds 51% shares of Muang Thai life insurance. By the end of 2019, KBank’s total assets, total deposits and loan outstanding were ranked fourth among all commercial banks in Thailand, with a market share of about 14%; its market value (US $12 billion) was ranked second among all listed commercial banks in Thailand.
Mr. Jarung Kiatsupapong, member of the BOD of KBCN and CIO of KBTG, said, “KBank Group set up THE TECHNOLOGY SUBSIDIARY in Shenzhen Luohu, is to implement the policy of ‘coming in and bringing out’, which further helps introduce advanced foreign financial institutions to participate in the domestic financial market with the help of opening up and cooperation in the financial field, effectively promote Shenzhen technology companies to expand financial and technology services to ASEAN countries.”
KTech will formulate a "five-year three-step" plan.
Step 1, consolidate the foundation in the first year of opening, focus on the completion of team building, business model and other basic work to support the digital strategy of KBank China as the main development direction.
Step 2, in the second to third years of opening, make steady progress, deeply integrate with shareholder’s resources, and focus on serving KBank headquarter and its subsidiaries in China + ASEAN region, integrate the leading technological achievements in China, especially in Shenzhen, and provide innovative financial technology solutions
step 3: accelerate the development in the fourth and fifth year of operation, faster the development speed, and become a leading FINTECH company locally. At the same time, we will be in-depth in technology accumulation and technology research and development, combined with leading international research and education institutions, exploring the establishment of financial science and technology laboratories, and supporting the research and application of related basic disciplines.
