ADAPTATION OF FINANCIAL INSTITUTIONS IN THAILAND TO THE TREND OF DIGITAL BANKING

Abstract

          This article aimed: to study the effects of transformation to digital banking upon Thailand's financial institutions, bank clerks, and customers; and to investigate the adjustment to support this digital banking platform. The researchers adopted qualitative research methods to collect data by studying documents in conjunction with interviewing 21 informants, i.e., branch managers, bank clerks, and clients, from seven banks in Muang District, Khon Kaen Province. The triangulation method was used in analyzing data.

          The findings were found that:       
          1) the effects of transformation to digital banking found the transition to digital banking nowadays, the banks have adopted digital technologies to provide financial banking services to customers by continuously developing cutting-edge financial applications to facilitate customers via online banking services that are fast and available for 24 hours a day.  These applications have affected customers’ behavior in that they decrease the amount of times that they receive financial services at the branches. Most banks have adopted a branch reduction policy. However, bank clerks are still necessary for providing services to customers. The banks have assigned the bank clerks more roles, especially as financial advisors with the emphasis on credit and investment services. Therefore, the adjustment plan of Thailand’s financial institutions under the platform change focused on improving the bank clerk potential in spreading knowledge and becoming financial and investment advisors. Having a financial application contributes to a wide range of services and responds to customer needs.