Bank of Ayudhya (Krungsri), a key member of Japan’s Mitsubishi UFJ Financial Group (MUFG), has unveiled a massive ฿10 billion ($270 million USD) technology investment plan designed to fundamentally transform its operations. Announced at its annual “Krungsri Tech Day 2025,” the strategy positions Artificial Intelligence and Data Analytics as central pillars in its mission to create a more sustainable and simplified banking experience for individuals, businesses, and society at large.
Marking the bank’s 80th anniversary, Krungsri President and President and Chief Executive Kenichi Yamato delivered a powerful vision, stating, “Evolution is no longer enough; transformation is necessary.” He emphasized that this shift extends beyond adopting new tools to a complete overhaul of work processes, partner collaborations, and the bank’s role in fostering success in a digital-first world.
The core of this transformation is a “Technology for People” ethos, which aims to create intelligent, seamless financial experiences integrated into daily life. “We are investing continuously in technology and digital capabilities to enhance customer experiences and build trust—the foundations of a leading, sustainable bank that creates a positive impact,” Yamato added.
AI with a Social Conscience
The most striking element of the strategy is Krungsri’s application of AI and data across three key pillars: People, Business, and Society. Tul Roteseree, Head of Enterprise Data and Analytics Group, asserted that “AI is nothing without data,” explaining the establishment of an AI Center of Excellence to ensure governance and promote responsible innovation.
While the bank is developing internal tools like “Data Counselor”—a natural language interface for employees to query complex information—and enhancing business functions like credit underwriting and fraud detection, its societal applications stand out.
In a landmark move for the Thai financial sector, Krungsri has established a real-time data link with the Royal Thai Police’s Central Investigation Bureau. This pioneering collaboration combats financial crime by reducing the time required to freeze fraudulent accounts from several days to mere minutes, significantly increasing the chances of recovering victims’ funds. This initiative represents a profound step in a financial institution’s social responsibility.
A Multi-Phase Foundational Journey
This ambitious vision is the culmination of a systematic, multi-year strategy. Saisunee Hanprathueangsil, Krungsri Chief Information and Digital Officer, detailed the bank’s three-phase Medium-Term Business Plan (MTBP) that laid the groundwork:
- Phase 1 (2018-2020): Digital Focus: Focused on expanding accessible and comprehensive digital service channels.
- Phase 2 (2021-2023): IT Modernization: A major overhaul of IT infrastructure and organizational restructuring to support regional expansion.
- Phase 3 (2024-2026): Full-Scale Transformation: The current, intensive phase focused on transforming Core Banking, Data, AI, and Cloud infrastructure to ensure sustainable future growth.
“This long-term planning shows we are not just chasing trends, but systematically building a foundation to fulfill our core promise: to ‘Make Life Simple’,” said Saisunee.
Re-architecting for Agility
Supporting this transformation is a massive investment in infrastructure, guided by the principles of “Leaner, Simpler, and In-line with Business,” according to Pochara Vanaratseath, Head of Information Technology Group;. A key initiative, “Project Jupiter,” is a bank-wide program re-architecting IT systems from the front-end to the back-office. By adopting a Microservices architecture, Krungsri can rapidly reuse components, dramatically reducing development time for new products and boosting organizational agility.
For the business sector, Rottapron Ekabutr, Head of Digital and Innovation Group, outlined a strategy under the banner “Let us handle the money matters.” Krungsri offers a suite of digital platforms, from Krungsri Biz Online for SMEs to sophisticated Banking as a Service (BaaS) solutions.
These APIs allow large enterprises to seamlessly integrate financial services like e-Tax, e-Documents, and e-Receipts directly into their own systems. The platform’s success is evidenced by its 1,200 connected partners and an annual transaction volume of 90 million.
Concluding the event, Saisunee stressed that a sustainable future cannot be built alone.
“Collaboration is key,” she stated, highlighting the importance of working with solution partners, startups, and, most importantly, customers to co-create innovation and achieve mutual growth.
Ultimately, Krungsri’s announcement is more than a technology roadmap; it’s a firm commitment to harnessing digital power to simplify lives and drive sustainable progress for the entire ecosystem it serves.
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