KBank launches MAKE by KBank – mobile banking for the new generation A new experience of financial management in the 'New Normal’ era

Stocks and Financial Services Press Releases Thursday July 23, 2020 14:57
Bangkok--23 Jul--KASIKORNBANK

KASIKORNBANK (KBank) has launched the MAKE by KBank application – a mobile banking application designed specifically for the new generation which increasingly relies on mobile banking as it gives them the freedom to personalize their own financial management and manage their finances as a group. The Bank has developed technologies and designed financial features that are in step with the 'New Normal’ lifestyle in which life is connected via technology. In its initial phase, the innovative mobile banking application will have three main features, i.e., Pop Pay which enables funds transfer via Bluetooth, Chat Banking which can save transaction history in the form of social chat, and Cloud Pocket which allows users to save money for specific purposes. The full version of MAKE by KBank will be introduced by the end of 2020.

Mr. Ruangroj Poonpol, Chairman of KASIKORN BUSINESS-TECHNOLOGY GROUP (KBTG), said although the K PLUS app of KBank is already Thailand’s top mobile banking application with 13 million users, KBank has always aspired to introduce new banking experiences or “Experimental Banking”, while not being attached to traditional practices. To respond to the requirements of customers of all backgrounds and ages, innovations are constantly being developed, the most recent of which is MAKE by KBank – the mobile banking application that best accommodates young generations’ financial management preferences.

For MAKE by KBank, technology development and feature design have been undertaken by KBTG, based on the following key concepts: 1) MAKE it Social – to be in tune with today’s lifestyles marked by human connectivity via technologies, this feature allows users to manage their finances by themselves and to share such matters with others; 2) MAKE it Fast – to develop technologies and to design features that ensure convenient, speedy and secure financial management; and 3) MAKE it Scalable – to develop technologies that support large volumes of transactions, especially for young people whose mobile banking usage is surging.

In the initial stage, MAKE by KBank includes three main features for everyday life in the 'New Normal’ era, wherein all can be managed via a single account.

The first feature is Pop Pay, a smart funds transfer service that provides greater convenience and speed. Funds can be transferred via Bluetooth within a distance of 10 meters, without requiring an account number, telephone number or QR Code from the other person. This feature upgrades the contactless funds transfer for more convenience and simplicity, and creates an extraordinary experience in ordinary transactions. With just one click, money can be transferred when an icon of a friend who has a MAKE by KBank account, and is in the effective range, is selected.

The second feature is Chat Banking, which offers a new way for users to keep a record of their past transactions. With this feature, users can keep records of their funds transfer transactions done with their friends in a social chat style format. It is similar to an SMS service or a chat-style novel app for which the users can attach pictures or write a short note of respective funds transfer transactions to make it easier to view them later on.

The last feature is Cloud Pocket, which allows users to create personal cloud pockets to keep varied amounts of money in many accounts so that they can use the money separately later on, such as for savings, monthly payments of various services, gifts for their loved ones, and shopping. Users can invite friends to use their personal cloud pockets to save money together in a common fund to do many activities, take trips or purchase goods, thus allowing them to build a community among their friends. Funds can be conveniently transferred among personal cloud pockets without any restriction in terms of the number of transactions, while users will get an alert notification when there is an incoming funds transfer. Users can configure automatic funds transfer settings, too.

Opening a MAKE by KBank account is hassle-free. Simply download the application, and the system will require you to confirm your identity via K PLUS as with opening a standard savings account. Users can also use the MAKE by KBank app to conduct cardless withdrawal from an ATM by selecting the “MAKE” option on the ATM screen. Funds transfers can also be done as normal with only the number of the receiving account needed.

The MAKE by KBank application is currently available to KBank and KBTG employees in its trial period. Customers and other parties interested in being part of the pilot group can register at https://www.kbtg.tech/makebank/index.html. The trial period is expected to help the team to augment its capabilities, receiving valuable input and useful suggestions to further develop the service and achieve the highest efficiency before making the application available to the general public by late 2020.

Furthermore, the MAKE by KBank application is also hosting a competition for youths aged 15 and older who have ideas for creating features that coincide with the lifestyle choices of newer generations and want to see them in the MAKE by KBank app. These youths are encouraged to form teams in registering and presenting their ideas for the “Let’s MAKE it Together” program under the concept, “The Future of Banking is Yours”. Eligible teams will get the chance to win a prize valued at more than 60,000 Baht. Applicants can find additional details and register at https://bit.ly/30KY9on from today until August 23, 2020.

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