Krungsri (Bank of Ayudhya) is working with Kyndryl, which will bolster the Thailand-based bank’s ability to adapt to market changes, fortify its legacy systems, and enhance its customer-centric digital banking services through the implementation of data analytics, cloud solutions, and automation.
Pochara Vanaratseath, head of Krungsi’s IT Group, said the banking industry is undergoing a profound transformation due to a confluence of factors, including technological advancements, evolving customer preferences, regulatory changes, and the rise of innovative financial models.
“These factors are leading us to a tipping point where traditional methods need to be re-evaluated and reshaped,” said Pochara.
He added that Krungsri is striving to expand regionally, which involves not just extending their reach beyond Thailand, but also harnessing the synergies across the parent company Mitsubishi UFJ Financial Group (MUFG) network to enhance our customer services.
“To succeed, we need a resilient, flexible, and scalable IT infrastructure,” he said. “This is where we see our partnership with Kyndryl taking shape, serving as experts with deep domain knowledge to effectively modernise our IT infrastructure so that we can move forward with our vision, wherein customer-centricity and personalised product suites take centre stage.”
Kyndryl will support the financial institution in data centre relocation, cloud adoption automation, mainframe modernisation, and modern workplace solutions as well as tap its partnerships with industry leaders like AWS and Microsoft to deliver multi-region solutions.
This will allow the financial institution to apply data management capabilities to service customers beyond Thailand , enhancing its ability to operate and collaborate seamlessly and securely across different markets.
The expected immediate outcomes of this partnership include operational streamlining and cost optimisation through automation and digitalisation, while bringing invaluable growth to the top and bottom lines of the business.