Currently, the digital transformation of Thailand's financial sector goes beyond mere convenience and speed; it is essential to create service experiences that impress customers just as much as face-to-face branch interactions.
TMBThanachart Bank, or ttb, has reinforced this direction by promoting the concept of Humanized Digital Banking—"digital banking that truly understands you"—via the ttb touch application, which not only serves as a comprehensive financial service hub but also achieved over 60% growth in retail customer sales through digital channels last year.
Narit Araksakulwong, President of Corporate Strategy and Digital Group at ttb, revealed that today the definition of "bank" effectively equals "Mobile Banking." Data from ttb shows that retail transactions previously conducted at branches 5–6 years ago can now be done through the ttb touch app over 95% of the time, resulting in an average daily login of 1.5 to 2 million users.
A tangible reflection of this is the more than 60% revenue growth from retail customers via digital channels, especially in the "auto loan" product. Previously, secured loans like auto loans were mostly applied for at branches rather than via apps, due to the need for collateral assessment and data collection.
However, the My Credit feature on the ttb touch app allows customers to self-assess preliminary auto loan credit limits, proceed immediately with applications, and benefit from an automated approval system that provides quick results. This has led to 1.9 million auto loan applications annually through the app.
Responding to evolving customer behaviors and technology, ttb envisions digital banking that delivers more than convenience—Humanized Digital Banking—which integrates human skills with technology.
For customer development, ttb has its own digital hub called "ttb spark," established nearly five years ago following the merger of TMB and Thanachart banks, to continuously design new solutions and software.
Another advancement is "ttb enterprise," a digital customer care guide that enables staff to learn and serve customers on a single platform. Currently, ttb enterprise manages over 200,000 customers monthly and helps the bank save 100-120 million baht annually in licensing fees for foreign CRM systems.
ttb identified that mid-career customers, who have accumulated 1–2 million baht in savings, often receive insufficient service and lack accurate investment advice, relying mainly on social media information.
Therefore, ttb's technology roadmap targets creating a reliable AI-based Wealth Management advisor, based on the view that discussing wealth and sensitive life plans with technology can be more comfortable and lower barriers compared to human interaction, Narit explained.
Regarding the emergence of Virtual Banks in Thailand, ttb sees this as an important movement to increase competition and drive innovation in the market. However, the bank firmly does not support a Virtual Bank model that is entirely devoid of human presence.
Despite digital channels meeting 80–90% of daily transactional needs, Thai consumers still seek human advice and trust during critical life moments or major financial decisions. Thus, ttb remains committed to building platforms where thousands of staff can work seamlessly.
By eliminating the boundary between online and offline worlds, branch staff can use ttb touch as a "digital storefront" to access and deliver comprehensive financial services.
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