Tanapong Ittisakulchai, Chief Enterprise Business Officer at Advance Info Services Public Company Limited (AIS), expressed enthusiasm about supporting businesses of all sizes in adopting technology for digital transformation. This collaboration with Krungthai Bank leverages the Krungthai BUSINESS platform to offer AIS Business customers "PromptBIZ," a comprehensive financial and payment infrastructure for business transactions. This digital solution facilitates seamless cross-bank operations, connects tax systems, reduces errors, and efficiently enhances access to finance, aligning with the Bank of Thailand's digital economy growth strategy.

Tawatchai Cheevanon, Chief Product & Business Solutions Officer at Krungthai Bank, emphasized the bank's commitment to using technological development and financial innovation to meet diverse customer needs and enhance the competitiveness of Thai businesses, thereby empowering better life for all Thais. The partnership between Krungthai and AIS Business in offering “PromptBIZ” on the Krungthai BUSINESS digital platform marks a significant achievement for both organizations. The collaboration aims to fully digitize and support the business operations of AIS and its partners throughout the supply chain. This digital ecosystem streamlines document management and reduces paper usage by shifting from paper-based to digital trade documents. It allows AIS business customers to make cross-bank payments conveniently via the electronic platform, a significant improvement over traditional methods of payment and receipt processing at AIS service centers. This transition also decreases the time spent verifying and reconciling trade documents. Additionally, the platform includes the Krungthai e-Withholding Tax service, which automates tax withholding without the need for physical tax certificates, and supports e-tax invoices and e-receipts. Furthermore, the gathered data will be utilized to offer other related services, such as digital supply chain finance, which uses trade data from PromptBIZ for credit underwriting. This feature is particularly beneficial for AIS partners, especially SMEs, providing them with improved access to reasonably priced funding and preventing double financing. This collaboration is a testament to both organizations’ dedication to supporting the growth of all sectors in the society, fostering sustainability, and advancing Thailand’s digital economy.”

Published 15 December 2023