GSB urged to focus on 4 main customer groups, prepare for digital transformation

The Deputy Prime Minister in charge of economic affairs, Somkid Jatusripitak, delivered the government policy to the Government Savings Bank (GSB) to focus more on four main consumer groups, and prepare the bank for digital transformation involving big data technology and analysis.

Mr. Somkid told the GSB executives that the government wishes the GSB to take care of grassroots customers, middle-class, startups, and elders, encouraging them to have income.

He said the bank must also prepare itself for digital transformation and to familiarize its employees nationwide with the new management system, while the bank must make big data collection and set up a team of analysts to make use of that data.

The bank is also encouraged to connect with community banks in order to accurately access data related to low-income earners.

Meanwhile, the Finance Minister, Apisak Tantivorawong, said his ministry this year is set to pursue the second phase of welfare card campaign with the aim to drive 25 percent of 11.4 million registered low-income earners away from poverty.

In this campaign, the Bank for Agriculture and Agricultural Cooperatives (BAAC) will be responsible to take care of farmers, while the GSB will be responsible for middle-class people by providing vocational training and make reports every three months back to the Ministry of Finance regarding the progress and obstacles.

The GSB President, Chatchai Payuhanaveechai, said the GSB in 2018 will offer services which comply with the government policies to promote savings, enhance the grassroots economy, and support elders and start-up businesses.

The GSB is aimed to make one million people free from poverty by 2020 by providing occupational and financial supports. The bank is also aiming to push forward its financial clinic campaign, continuing the refinancing offers for informal loans, and have 48,000 more SME clients this year.