Bangkok--25 Jul--KASIKORNBANK
KASIKORNBANK (KBank) will soon debut its service for opening a K-eSavings Account on K PLUS, which is now in the Bank of Thailand's regulatory sandbox. The service will allow tech-savvy customers to open a K-eSavings account anywhere, anytime, with no minimum deposit amount required and interest rate of up to 1.5 percent p.a. Among its distinctive features is real-time identity verification using national ID card with K CHECK ID and digital image scanning on K PLUS with facial recognition and liveness detection technologies. Customers can verify themselves at KBank Branches or at K CHECK ID service points which will initially be rolled out at select Big C and Thailand Post locations.
Mr. Wirawat Panthawangkun, KBank Senior Executive Vice President, said that there are presently 18.7 million accounts opened with KBank, and nearly 11 million K PLUS users. KBank aims to make it easier and more convenient for customers to open new accounts, including those customers who are familiar with social media platforms and open to new technology. These customers generally use smartphones which are compatible with Android 5.0 and iOS 9.3 operating systems. The new service – enabling customers to open new savings accounts on K PLUS – will make such banking transactions easier, providing a do-it-yourself solution for everyone. Customers simply use their national ID card and their camera-equipped smartphone to carry out various transactions, from the process of applying for a new account to expediting daily financial transactions, without any minimum savings requirement. Customers will receive a 1.5 percent p.a. interest rate for the first 100,000 Baht deposited into their K-eSavings Account. Upon opening their account, customers can then conduct various transactions on K PLUS with features to facilitate business via various channels to cater to the digital lifestyle, such as funds withdrawal via QR code at ATMs, KBank Service points, and KBank branches.
Mr. Wirawat added that the use of identity authentication technology in financial transactions is aimed at upgrading security and preventing fraud, as in this way no personal information is stored in the related devices. This technology meets cyber security standards because identity authentication involves real-time data verification of national ID card via K CHECK ID as set up by KBank, and a facial scan to compare to the applicant's photo on K PLUS. Steps of opening a K-eSavings Account are as follows:
1. Download K PLUS and enter your relevant information.
2. Identify yourself by inserting your national ID card in the device installed at one of 380 KBank branches nationwide, or at a K CHECK ID service point set up by KBank. During the initial phase (August 2019), K CHECK ID service will be available at 200 branches of Big C and 20 branches of Thailand Post.
3. Take your own photo with your smartphone, and verify your information.
4. Press "Confirm" and accept various conditions on K PLUS.
5. The account opening process is complete, and you can immediately begin conducting various transactions with KBank.