Self Apply Loan and K Pay Later on K PLUS Qorus Banking Innovation Awards 2022

As we all know, COVID-19 totally change the customer behavior to be more digital adoption, people use less physical channel and instead use mobile banking to fulfill their financial needs. Meanwhile the demand of credit for Thai people has been increased due to the economic slow down. With this regard, K PLUS is the first mover who respond to these trends by initiating the Self Apply Onboarding for KBank's credit products and create the new digital lending product called K Pay Later to support the credit needs. What we did is we build a capability on K PLUS for customers to easily do self-apply for loans with fully digital onboarding experience and without physically branch visit. The loans application includes Credit Card, Express Cash Card (which is emergency cash for customers who do not qualify for Credit Card), Personal Loan, and also the K Pay Later which is new digital lending product which provide customers a credit limit that they can use it first, then pay it later. Customers can use the limit by scan QR at shops and select to "Pay with K Pay Later" which is very simple and align with growing of QR adoption in Thailand.