During 2016-2020, the Bank has made major investments to upgrade its management process under the redefined role to promote trade and investment as well as online transactions with an aim to boost competitive advantage of Thai entrepreneurs. The Bank’s key investment projects within the total budget of 290.96 million baht have been implemented since 2016 and will continue into 2020. Details are as follows:
• Opening of representative office in target countries:The Bank aims to promote trade and investment in major markets in the CLMV, namely Cambodia, Lao PDR, Myanmar and Vietnam, and the new frontiers by developing in-depth relations with agencies in these target countries and conducting integrated data collection and research in collaboration with local agencies. In 2016, the Bank worked out a plan to open representative offices in the CLMV, starting with Myanmar which has high investment potentials given its high GDP growth and continued growth prospects through the next five years. The Bank has also planned to open representative offices elsewhere in the CLMV in 2017.
• Development of data warehouse (DWH):The Bank places importance on the development of information technology in response to the rapidly changing competitive business environment as well as changes in the economic, financial and regulatory landscape. This also includes development of database system to support prompt and efficient strategic decision making of the management. Therefore, the Bank has developed its DWH since 2016 with the use of selected data models under a 3-phase plan covering 2017-2019. This will allow for efficient and timely data processing and boost the Bank’s competitiveness in the long run.
• Development of online export credit insurance system: The Bank has been developing the online channel to expand its export credit insurance service to SMEs so that they can buy insurance facility online. This will facilitate the procedure for and reach out to customers who cannot access the Bank branches. The work system and process in relation to credit worthiness assessment of exporters’ buyers has also been improved to increase efficiency and speed up service provision to the customers.
• Development of core banking system: The Bank has been developing its core banking system on trade finance, loan and deposit (TLD) to streamline the procedure and shorten the turnaround time in line with the Bank’s operational direction. System modification is underway to get prepared for the Bank’s business operation under its new role.