Bangkok--20 Jun--KBank
Amid intense competition in the payroll business, KASIKORNBANK has launched a promotional campaign giving away 5 million Baht in gold to both business and individual customers of its payroll service, hoping to capture this customer base over the long term. The Bank also aims to offer other services to become the top transactional banking service provider and increase payroll customers by 12 percent, to 2 million, by the end of 2013.
According to KASIKORNBANK Executive Vice President Mr. Chatchai Payuhanaveechai, commercial banks are competing to offer transactional banking service in a bid to boost fee income. To acquire more customers, KBank will focus on the KBank Payroll service which can expand in both corporate and individual customers. According to a Bank survey, customers having a payroll account with the Bank typically generate more revenue for the Bank than customers of other services, given the Bank’s greater opportunities to present them additional services.
Therefore, KBank is offering its “Surprise! Salarymen get to Go for the Gold Every Month!!” program to business and individual customers. Existing payroll customers applying and using specified services will be given entries for drawings with 50 prizes of 0.50-Baht gold necklaces each month, available from June to November 2013. At the final drawing in December, 100 prizes of 0.50- Baht necklaces will be offered. Business customers using KBank Payroll service will be given entries for drawings with 50 prizes of 1-Baht gold necklaces. A total of 450 prizes with a combined value of approximately 5.2 million Baht will be offered over the entire campaign period.
Mr. Chatchai added that customers usually prefer using other services of the bank they have a payroll account with, providing these banks opportunities for cross-selling. There are currently 13,000 corporate customers using KBank Payroll service representing 1.7 million individual payroll account owners, compared to a total of 9 million individual customers of KBank, meaning there is room for customer expansion. The Bank is targeting both businesses and individuals who can choose a bank for payroll service. KBank expects to see an increase in payroll customers by 12 percent to 2 million by year-end through diverse promotional campaigns responding to customers’ needs — including K-Payroll Benefits, which matches all employees’ lifestyles — and developing business partnerships throughout the year.
Customers having a payroll account with KBank and companies paying employees through the KBank Payroll service can apply for the “Surprise! Salarymen get to Go for the Gold Every Month!!” program from today until the end of December 2013, or ask for more information from the K-Contact Center by calling 02-888-8888, press 02.