Qorus Banking Innovation Awards 2023

Cultivating Innovation Through Empowered Employees in a Payment Company

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22/09/2023 Banking Innovation

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Innovation, in this context, is no longer about who has the most advanced technology or the deepest pockets. Instead, it's about who understands the customer best and can swiftly act on that understanding. In a world where change is the only constant, start up companies like ourselves, powered by a small but resilient team, are redefining what it means to be truly innovative.

Innovation presentation

In the heart of the payments industry where change is a constant, our company with just 10 employees stands firm, not because of our size, but because of our vision and culture. At first glance, we may not seem like the most innovative contender in a field of technologically advanced giants. However, beneath the surface, a unique approach to fostering innovation unfolds, one that is rooted not in technology or resources, but in people.

In Kasikorn Global Payment (KGP), every employee is a multitasker, a direct result of the lean business model. The small team size is not a constraint but a facilitator of agility and adaptability, enabling swift decisions and execution. This agility is maintained even as the company grows. The team does not view our small size as a limitation, but rather as a challenge to overcome with their can-do spirit and positive attitude.

This positive attitude extends beyond the office walls and into the mindset with which the team approaches their customers. Understanding that innovation is not solely derived from technological or procedural improvements, the team focuses on developing a deep empathetic connection with their customers. This empathy, combined with a customer-centric approach, drives them to constantly seek ways to enhance the customer experience and deliver more value.

The belief that innovation is a human endeavor is ingrained in the company's DNA. Each team member wears multiple hats, not out of obligation, but in the spirit of fostering a versatile and resilient workforce. This approach has enabled the company to create a culture where innovation is not an isolated function but a collective responsibility.

The company's ethos of "thinking big, starting small, and scaling fast" reflects its innovative strategy. The team nurtures big dreams, envisioning a future where their payment solutions go beyond simply facilitating transactions to empowering economies and fostering social inclusion. However, they temper these grand visions with a pragmatic start-small approach. They validate concepts through small-scale experiments and pilot projects, learning and iterating based on customer feedback.

Once these concepts are validated, the team leverages its agility to scale rapidly. The lean structure that once seemed like a limitation now becomes our greatest strength, as they are able to quickly expand our proven solutions to new markets and customer segments.

In essence, KGP's innovation is a testament to the power of a people-first approach. By nurturing empathy, encouraging a customer-centric mindset, fostering a positive environment, and instilling a can-do attitude, it has succeeded in building a culture of innovation. Despite our size and seeming lack of conventional innovation structures, we have carved a unique identity for ourselves in the fiercely competitive payment industry.

Uniqueness of the project

What sets us apart in the payment industry is our focus on developing our employees and cultivating a unique set of qualities that drive innovation. We prioritize the growth of our workforce, empowering them to think creatively and identify opportunities. Our culture of empathy enables us to truly understand and address customer needs effectively, while our customer-centric mindset ensures that our innovations exceed expectations. With a positive and can-do attitude, our team embraces challenges and sees failures as learning opportunities. Our small but agile team of multitasking individuals allows us to adapt swiftly to changing demands and encourages cross-functional collaboration. Finally, our ambitious mindset drives us to think big, start small, and scale fast, positioning us as a dynamic and innovative force in the payment industry.

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