Amazon Web Services (AWS), a subsidiary of Amazon.com, has recently disclosed that Bank of Ayudhya Public Company Limited (Krungsri), one of Thailand’s top five banks, is undergoing a digital transformation with AWS. This initiative aims to enhance customer experience, promote financial inclusion, and optimize operational efficiencies. By leveraging AWS, Krungsri is fostering an innovative environment within the organization, allowing collaboration among its entities: Bank of Ayudhya, Ayudhya Capital Services, and Krungsri Auto, utilizing data analytics, machine learning (ML), and artificial intelligence (AI). Consequently, Krungsri can now deliver personalized services and tailored offers with a 60% increase in efficiency. The cost savings realized through AWS are being reinvested to drive the development of innovative products.
Traditionally, Krungsri’s auto loans, credit cards, and asset management departments operated in silos, hindering a comprehensive understanding of individual customer needs. To address this and achieve the goal of expanding their customer base to 15 million, with 12 million on digital banking platforms within three years, Krungsri transitioned to Amazon Elastic Compute Cloud (Amazon EC2). This cloud-based web service offers secure, scalable compute capacity on demand, enabling Krungsri to adapt to the requirements of new digital services seamlessly. Moreover, Krungsri has implemented a self-service business intelligence (BI) solution using Tableau, hosted on Amazon EC2, empowering employees with easy access to data analytics and visualization tools for informed decision-making across the organization. To ensure a holistic understanding of customers, Krungsri has successfully deployed a comprehensive data platform on AWS, designed to provide a 360-degree view of retail customers while emphasizing efficient data storage and management. Through Amazon Simple Storage Service (Amazon S3), the platform securely stores data from Krungsri’s 9.8 million customer base, including account information and transactions, ensuring compliance and data security. AWS data analytics services like AWS Glue facilitate the utilization of platform data to develop new digital services such as personalized investing accounts.
Krungsri’s cloud data platform also enables the bank to implement ML projects to enhance the customer experience. With Amazon SageMaker, a managed service for building, training, and deploying ML models, Krungsri optimizes delivery routes for vehicles transporting cash to its 6,000+ ATMs across Thailand. By predicting heavy traffic and cash demand in various locations, Krungsri reduces fuel costs, transportation time, and improves cash availability for customers. Additionally, Krungsri plans to leverage ML to assess loan risks automatically for customers without property ownership or financial documentation, addressing financial inclusion challenges. The bank also aims to utilize generative AI to drive innovation and productivity, employing AWS generative AI capabilities like Amazon Bedrock to enhance customer service and operational efficiency.
Tul Roteseree, the head of Data and Analytics Division at Bank of Ayudhaya PCL, emphasized the significance of the digital transformation with AWS in serving digitally savvy customers and fostering financial resilience in underserved communities. The enterprise data platform on AWS unifies Krungsri’s subsidiaries, enabling them to offer digital and inclusive financial services through data analytics and ML. The reliability of AWS infrastructure has revolutionized Krungsri’s market solutions, ensuring accurate and up-to-date services for customers. Collaboration with AWS on generative AI projects is expected to unlock efficiencies, optimize costs, and drive product innovation.
Vatsun Thirapatarapong, country manager at AWS Thailand, highlighted the role of cloud and AI technologies in enabling Thai lenders like Krungsri to cater to a broader customer base efficiently. By utilizing AWS’s generative AI and ML capabilities, Krungsri can expedite decision-making processes, enhance service offerings, and contribute to the financial security of unbanked individuals.
AWS has demonstrated its commitment to Thailand by investing over $5 billion in 15 years and training more than 50,000 individuals in cloud skills since 2017. The transition to renewable energy is a key focus for Amazon, with 90% of its electricity consumption sourced from renewable energy in 2022. Amazon’s extensive renewable energy projects worldwide aim to achieve 100% renewable energy consumption by 2025, reducing carbon emissions significantly. A 2021 report by 451 Research indicated that migrating computing workloads to the cloud can enhance energy efficiency for companies in the Asia-Pacific region, reducing their carbon footprint by over 78%.
About Amazon Web Services
Amazon Web Services, established in 2006, is the leading and most diverse cloud service provider globally. With over 240 services catering to various workloads, AWS operates from 102 Availability Zones within 32 regions worldwide, with plans to expand further. Trusted by millions of customers, including startups, enterprises, and government agencies, AWS empowers organizations to enhance agility, reduce costs, and streamline operations. To explore AWS services further, visit aws.amazon.com.
