Discover the transformative partnership between Krungsri and Kyndryl, propelling Thailand’s leading financial institution towards digital excellence and enhanced customer-centric banking services. Explore the future of banking innovation.
Krungsri, Thailand’s leading financial institution, has announced a five-year partnership with Kyndryl, the world’s largest provider of IT infrastructure services. This collaboration aims to strengthen the bank’s ability to adapt to market changes, reinforce its legacy systems, and improve its customer-centric digital banking services. It will achieve this through the implementation of data analytics, cloud solutions, and automation.
Pochara Vanaratseath, Head of Information Technology Group at Krungsri, stated, “The banking industry is undergoing significant transformation due to various factors, including technological advancements, changing customer preferences, regulatory shifts, and innovative financial models. These factors are pushing us towards a pivotal moment where traditional methods need to be reevaluated and reshaped.”
“At Krungsri, we are focused on expanding regionally, not only by extending our presence beyond Thailand but also by leveraging the synergies within the Mitsubishi UFJ Financial Group (MUFG) network to enhance our customer services. To succeed in this endeavor, we require a resilient, flexible, and scalable IT infrastructure. This is where our partnership with Kyndryl comes into play, as they possess deep domain expertise to effectively modernize our IT infrastructure, aligning with our vision of prioritizing customer-centricity and personalized product offerings.”
Kyndryl will assist Krungsri in driving its digital transformation agenda, including data center relocation, cloud adoption automation, mainframe modernization, and modern workplace solutions. Additionally, Kyndryl’s partnerships with industry leaders like AWS and Microsoft will enable the delivery of multi-region solutions, enhancing Krungsri’s ability to serve customers beyond Thailand and operate seamlessly and securely across various markets.
As part of this partnership, Krungsri will benefit from Kyndryl’s expertise in managing complex IT environments, ensuring consistent service delivery as a reliable and adaptive solutions provider. This collaboration will also catalyze digital transformation and capital efficiency initiatives to align with Krungsri’s mid-term business plans. Immediate outcomes include operational streamlining and cost optimization through automation and digitalization, contributing to business growth.
Kyndryl has previously collaborated with Krungsri on significant initiatives. In 2019, Kyndryl led the transformation to a Software Defined Network, improving Krungsri’s operational performance metrics. In 2020, Kyndryl executed projects such as cloud modernization and enhancement of customer experience metrics through IT helpdesk solutions. These achievements underscore Kyndryl’s role as a strategic partner in Krungsri’s ongoing digital transformation journey.
Andrew Lim, Managing Director of Kyndryl ASEAN, expressed, “Kyndryl is honored to be the trusted partner supporting Krungsri’s IT modernization journey. Our proven ability to leverage data for strategic innovation and the delivery of an optimized banking experience will be pivotal in architecting and implementing the right technological solutions for Krungsri’s IT landscape. We are fully committed to enhancing Krungsri’s customer-centricity and facilitating its transformation into a digital-first financial institution in Asia.”
The strategic partnership between Krungsri and Kyndryl marks an important milestone in the financial industry’s evolution. By harnessing cutting-edge technology and deep domain knowledge, this collaboration is poised to revolutionize Krungsri’s IT infrastructure, enhancing its ability to adapt, innovate, and provide a superior banking experience to customers both within and beyond Thailand. As we move forward, we can anticipate continued success and growth as Krungsri transforms into a leading digital-first financial institution in the Asian market, thanks to the unwavering commitment and expertise of Kyndryl.