Winners rationale

2018 was a transformative year for KASIKORNBANK PCL. (KBank), which continued to strengthen its market-leading position through a series of initiatives aimed at enhancing processes, product offering, and client well-being.

With a strategy squarely focused on improving the firm through partnerships, KBank Private Banking last year began upgrading its core systems through Avaloq, developed a wider product platform through its continued alliance with Lombard Odier, and introduced an education ‘Quality of Leaving’ programme through a local social enterprise.

The first Thai bank to onboard the Avaloq Banking Suite, KBank vaulted its digital infrastructure to meet global standards early last year, enhancing its client advisory, transaction execution, and portfolio management capabilities. The upgrade, while granting KBank increased efficiencies across the board, also provides it with modularity and access to a vast library of fintech companies, thereby giving it the means to meet the varied needs of its frontline staff and clients through plug-ins.

And in understanding that its clients’ investment management needs extend beyond short-term securities trading, KBank — with the aid of Lombard Odier — developed risk-based funds specifically catered to segment. Last year, the firm revealed just how much traction the solutions have gained, announcing that they have attracted over US$1 billion in the three years they have been made available — an enviable figure considering the country’s low funds penetration rate.

KBank has also leveraged Lombard Odier’s centuries of expertise to become the first Thai bank to introduce comprehensive wealth planning services for the domestic market. Furthering its lead as a pioneer in wealth planning, KBank initiated a not-for-profit education programme last year with the Cheevamitr Social Enterprise to expound the merits of structuring wealth in a market where conversations around ‘end of life’ are particularly taboo. In doing so, KBank has aimed to transform an entire market and prepare families whose wealth is often lost between generations due to inadequate planning.

Through disciplined efforts to enhance its platform and offering to the benefit of its staff and clientele, KBank continues to stay ahead of the curve in its home market, ultimately winning it the trust — and assets — of the Kingdom’s wealthiest.

KASIKORNBANK PCL. is Asian Private Banker’s Best Private Bank – Thailand Domestic for 2018.