K.Paisal Kiattananan, Managing Director of Technology and Innovation of Digital Ventures, on working with Brainergy and implementing Digital Technology in a business.
What is Digital Ventures, and what is their vision & mission?
"Digital Ventures (DV) is a company under Siam Commercial Bank (SCB) that aims to help create and innovate new businesses or business tools in the financial sector. DV was established in 2016 with the focus on helping banks transition into the Digital Transformation era and prepare for the “digital disruption”. We seek out new technological innovations to invest in and help develop them to become a successful product or business. DV also aims to support local innovators and local businesses so that Thai banks and Thai business can grow together. To date, DV has invested $100 million dollars, or ฿3,000 million baht, in Financial Technology."
Banks are seen to be quickly adopting the use of digital technology. Where to start, and why?
"Banks must continuously grow and expand our business, starting by creating new businesses and/or services to replace our traditional ones. Adoption of modern technology to integrate into our services is also vital for our growth and our customer’s growth. Technology allows customers and SME business convenient access to their funds, and can also help run their businesses more efficiently."
What factors influenced the decision to use Digital Technology in your business?
"At DV, we have a department called Digital Lab, which is a team that purely focuses on developing and testing new technology to create new innovations for the finance sector. Key factors that influence our Digital Lab team consists of
- The digital technology is suitable for the financial sector
- Industry and market demands
- Customer needs"
What are the reasons you chose to partner with Brainergy to provide services in the area Digital Banking?
"Brainergy are experts in providing e-tax services. DV saw this as a potential for Brainergy to support and further develop our B2P (Blockchain Solution for Procure-to-Pay) system. B2P is a platform that will help increase efficiency in every step of the procurement process, covering the entire supply chain, creating a one-stop service for e-Tax. The B2P platform services will include consulting service, registration and application of Certificate Authority, as well as services in creating e-Tax invoices/receipts that meets the requirements and standards of The Revenue Department."