Delivering automation, data analytics, and cloud solutions, Kyndryl will future-proof Thailand’s leading financial institution in the digital banking landscape.
Krungsri (Bank of Ayudhya PCL), Thailand’s leading financial institution, announced a five-year partnership with Kyndryl to bolster the 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.
“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 Vanaratseath, Krungsri Head of Information Technology Group.
“At Krungsri, we are striving to expand regionally, which involves not just extending our 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. 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 center stage.”
Enabling Krungsri to Drive its Digital Transformation agenda, Kyndryl will support the financial institution in data center 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 is pitched as allowing Krungsri to apply data management capabilities to service customers beyond Thailand – enhancing its ability to operate and collaborate seamlessly and securely across different markets.
As part of the partnership, Krungsri can also look forward to Kyndryl’s expertise in managing intricate IT landscapes, providing unfaltering service delivery as a reliable and adaptive solutions provider and catalysing Digital Transformation and capital efficiency initiatives to meet the needs of its mid-term business plans.
The immediate outcomes of this partnership include operational streamlining and cost optimisation through automation and digitalisation, whilst bringing invaluable growth to the top and bottom lines of the business.
Kyndryl has achieved remarkable success with Krungsri through several significant initiatives over the years.
In 2019, Kyndryl pioneered the transformation to a Software Defined Network, effectively improving Krungsri’s operational performance metrics.
In 2020, Kyndryl executed several projects such as cloud modernization and improving customer experience metrics via IT helpdesk solutions.
These contributions validate the IT company’s role as a strategic partner for the next phase of Krungsri’s Digital Transformation journey.
“Kyndryl is proud to be the trusted partner supporting Krungsri’s IT modernization journey. Our proven track record in harnessing data to strategize, innovate and deliver an optimised banking experience will play a crucial role in architecting and implementing the right technological solutions for Krungsri’s IT landscape.
We are fully committed to enhancing Krungsri’s customer-centricity and enabling its transformation into a digital-first financial institution in Asia,” said Andrew Lim, Managing Director, Kyndryl ASEAN.