Thai Credit Bank Wins Best Innovation in Retail Banking Thailand 2024 Award from International Banker Magazine, UK

Thai Credit's main outstanding innovations are the nanofinance and microfinance loan services, designed specifically for merchants in traditional markets. This service features an EDC system for payment processing and receipt issuance at market stalls, enabling customers to repay loans through the Bank's Credit Advisors, thus reducing the need for travel to the bank. This approach preserves the traditional lifestyle of merchants. Additionally, the Bank has developed the Micro Pay e-Wallet, an easy-to-use e-wallet application that facilitates seamless transactions for small businesses, helping them transition smoothly into the digital financial system.

For SME loans, Thai Credit employs technologies such as the Strategic Decision Engine (SDE) and the Loan Approval Process (LAP). These systems help the Bank assess customer creditworthiness, verify and recommend appropriate loan amounts and products swiftly, with real-time processing and preliminary results provided directly at the customer's location. This paperless process not only accelerates and enhances loan approval efficiency but also supports global environmental sustainability by reducing paper usage.

The Best Innovation in Retail Banking Thailand 2024 award is a testament to the Bank's success in its dedication to being the best bank for micro SMEs and small entrepreneurs and its ongoing commitment to developing financial innovations for a sustainable future in Thailand.

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