2020 Winner: Bank of Ayudhya (Krungsri) wins Best Loyalty/Reward Programme & AI commendation – Retail Banker International Asia Trailblazer Awards


Bank of Ayudhya PCL, commonly referred to as Krungsri, is the fifth largest bank in Thailand and the recipient of the Best Loyalty/Rewards Programme trophy at the online, virtual Retail Banker International (RBI): Asia Trailblazer Awards 2020.

The bank transformed its customer loyalty progamme to create an enhanced Krungsri Gift digital loyalty offering. This was much more seamless across multichannels, digital, and provided such a good customer experience (CX) that some lesser users have been converted into regular main bank users and engagement levels have improved.

The bank has re-engineered its loyalty programme to be convenient and flexible, adding value to existing customers and attracting new ones.

Multiple customer research projects ahead of the launch at the start of 2019 showed that simplicity and personalised easy access from many different end points – be it branches, ATMs, internet or mobile channels – was what customers wanted. Four types of transactions were identified as the most likely to deepen engagement and convert occasional users into regular main bank users. These were:

  • Deposits
  • Withdrawals
  • Transfers
  • Payments

Customers undertaking these transactions on any channel can accumulate instant real-time rewards, without complicated redemption, voucher or other ‘after the fact’ procedures. For instance, the Krungsri Mobile Application (KMA) or SMS text rewards can instantly be accessed on mobile phones if users spent money at a retailer, such as an ice cream parlour or health / wellbeing shop, that was participating in the digital scheme. Retailers can also use the data-rich environment and marketing platform that the bank has created to support their own marketing ends.

The number of active users of the now fully digital rewards platform has grown by 25% as of September 2019, following its unveiling at the start of that year. The number of customers completing the four bulleted transaction types surged by 61% since January 2019, proving the success of the programme.

Next steps for the Krungsri Gift digital initiative is to leverage the data gathered from customers’ interactions with the programme to create dynamic segmented marketing campaigns that can be automated and targeted to offer more location-specific real-time rewards.

The bank was also Highly Commended in the Trailblazing Use of AI in FS category (this was won by United Overseas Bank Ltd: see their separate write-up).  Bank of Ayudhya’s Capital Services Co. unit got the commendation for its artificial intelligence (AI) Manow voice virtual agent.

AI Manow can serve Thai customers 24x7 answering questions about financial products and reducing wait times, while providing accurate information with a high level of security thanks to voice authentication. It’s the first AI virtual agent in Thailand and therefore somewhat of a trailblazer.

The voice virtual agent can verify customer information using spoken date of birth responses and so on, while examining latest the latest payment channels or credit limits and answering queries about outstanding balances; due dates and so on.

Initially launched for credit card and personal loan customers, AI Manow can understand various Thai accents and cut the need for repetitive questions. IUts so far handled more than 1 million calls and provided the following benefits:

  • Call abandon rates improved 50% year-on-year (YOY).
  • Customer talk time halved from 120 seconds down to 60 seconds.
  • Accuracy rate of 90%.
  • Enhanced productivity with THB80 million Thai Baht (USD$2.5m) saved per year from call centre operational costs.


The Retail Banker International Asia Trailblazer Awards is an annual platform that celebrates the best in class retail banking institutions and individuals for their innovative service offering and commitment to customer excellence.

If you would like to share your incredible consumer finance journey, then register for the 13th Annual Retail Banker International Asia Trailblazer Awards 2022 and submit your entry!