Best exchange rate on digital platform
( informant : ktb.co.th, 2019 )
The interesting separate is that KrungThai Bank was the first who launched this tease for oversea travellers called Travel Card. The main mind is to store and exchange 15 extraneous currencies with the best rate in the poster through application at any time you want a well as cash withdrawal and able to make payment on global currency without 2.5 % charge from the bank. Although by launched this travel menu KTB did n’t benefit much from this however their goal was to capture new customers which I am one of the drug user as I love travelling and its very convenience with the best rate ( ktb.co.th, 2019 ) . ( informant : scb.co.th, 2019 ) belated SCB launched SCB Planet which actually work the lapp, but they made it even easier on the process of record the card as customers can make this Planet card through SCB Easy. current customers already have savings bank history so customers do not need to open new account, walk into the branches to write their informations again vitamin a well as collect the card by themselves. The wag will send it right to customer ’ randomness door. SCB uses their customer database in an efficient way and used this to be a strength against competitors. Most of SCB customers have SCB Easy app, and I am both of these two banks clients but when I made KTB Travel card I still have to walk in to the KTB outgrowth and do all the wallpaper knead, open early fresh report and collected my card in contrast SCB made it easier. Although KTB provides more currencies than SCB but SCB uses price contest by offering cheaper rates. however, the successful of KrungThai is brand realization that people calm called all the card as Travel card . ( source : Limited, B. 2019 ) In fairy of, banks competition this chiefly effect money record changer branches. Before all big commercial banks did not want to come down to compete in extraneous exchange market as their large book of foreign exchange transactions is decidedly good exchange rates than investing on the commercialize with a bad and uncertainty change rate however, when the market grows enormously every day commercial banks finally opened their eyes. Digital service will replace the traditional extraneous exchange avail the leading local extraneous switch over in Thailand- Superrich was forced to transformed themselves to a digital platform in order to deal with the digital challenges ( Limited, B. ( 2019 ). It is very concern on hitting back your competitors by looking at the other side that the majority of Thailand income is Tourism. They jointed venture with victor card and 2C2P for visit Thailand card which target Thailand visitors. sol now we will see how far this market will go. References
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