Published June 06, 2017 | View complete press releases list |
Date: June 06, 2017
Categories: technology, Transaction Banking
Keywords: KBank, Beacon Venture Capital, Innovations
KBank launches Beacon Venture Capital to be the investment unit in Start Up under The Next Building Block concept, a fund of 1,000 million baht to support the development of financial innovations that promote the Bank's strategy. The first Thai bank to invest in Venture Capital (VC) to Startup Thai "FlowAccount" targets the 60's to focus on direct startup investments of 3-5, and invest in two to three other VC funds.
Ms. Khattiya Indaravijaya Managing Director KASIKORNBANK disclosed that consumer behavior with demand for digital services. Banking increased. Including advances in technology that will change the way we serve our banks in the future. KASIKORNBANK has formulated a core strategy for bringing digital technology to support the bank's businesses in various areas, as well as working with partners to create long-term competitiveness for sustainable business growth.
Recently, KBank has established Beacon Venture Capital Co., Ltd. (Beacon VC), a wholly owned subsidiary of Beacon Venture Capital Co. Ltd., to invest in a VC or startup fund. Innovative financial and technology innovation that is consistent and can effectively support the bank's strategic plan. Beacon VC has an initial investment of 1,000 million baht and has two investment policies, including direct investment, both start-up and Thai-foreign. And investing through the leading venture capital fund (Venture Capital Fund) by Mr. Thanapong Na Ranong, a specialist investment in startup.
As managing director Mr. Thanapong Na Ranong, Managing Director of Beacon Venture Capital Limited, said that in 2017, the company plans to invest directly in Finat Startup Up to 3-5 units and invest through venture capital funds approximately. By 2-3, Beacon Venture Capital will be the first corporate venture capital fund in Thailand to invest in a joint venture (VC) in Startup Thailand, FlowAccount. provision Lead Investor along with three other investors, FlowAccount is a potential business partner working with the bank. Has expertise in developing SME accounting systems.
The FlowAccount account system can synchronize company accounts with the bank account. And K-PLUS SME Corporate Banking is a partnership that caters to both banks, customers and startup companies. Beacon VC also invests through venture capital funds. (VC Fund) in Singapore named Dymon Asia, one of Asia's leading venture capital funds focused on Fin Tech. In addition, there are currently two investment plans underway, with total investment value of over 200 million baht.
The main objective of Beacon Venture Capital's investment is to create a sustainable profit for the bank, with a strategy of Value Proposition for its products and services. Reducing the time or cost of innovation. Utilizing First Mover Advantage to Reach and Create Innovation Leadership for the Bank And the development of expertise for personnel and technological development of the bank.
Mr. Thanapong added that the Beacon VC logo is a shining lighthouse, which guides the Fin Tech and startup partners. And when combined with KBTG's digital technology combined with KBank's digital partnership, the Bank's customer database of over 14.2 million customers can be developed into innovative products or services. Perfect for customers' needs in fast time to market. The Next Building Block concept, to complement the three ecosystems of the bank, the Digital Partnership KBTG and the Beacon VC, will help drive growth steadily and bring sustainability to the bank in the long run. Ms. Khattiya added.
Re-disseminated by The Asian Banker
KBank launches Beacon Venture Capital to be the investment unit in Start Up under The Next Building Block concept, a fund of 1,000 million baht to support the development of financial innovations that promote the Bank's strategy. The first Thai bank to invest in Venture Capital (VC) to Startup Thai "FlowAccount" targets the 60's to focus on direct startup investments of 3-5, and invest in two to three other VC funds.
Ms. Khattiya Indaravijaya Managing Director KASIKORNBANK disclosed that consumer behavior with demand for digital services. Banking increased. Including advances in technology that will change the way we serve our banks in the future. KASIKORNBANK has formulated a core strategy for bringing digital technology to support the bank's businesses in various areas, as well as working with partners to create long-term competitiveness for sustainable business growth.
Recently, KBank has established Beacon Venture Capital Co., Ltd. (Beacon VC), a wholly owned subsidiary of Beacon Venture Capital Co. Ltd., to invest in a VC or startup fund. Innovative financial and technology innovation that is consistent and can effectively support the bank's strategic plan. Beacon VC has an initial investment of 1,000 million baht and has two investment policies, including direct investment, both start-up and Thai-foreign. And investing through the leading venture capital fund (Venture Capital Fund) by Mr. Thanapong Na Ranong, a specialist investment in startup.
As managing director Mr. Thanapong Na Ranong, Managing Director of Beacon Venture Capital Limited, said that in 2017, the company plans to invest directly in Finat Startup Up to 3-5 units and invest through venture capital funds approximately. By 2-3, Beacon Venture Capital will be the first corporate venture capital fund in Thailand to invest in a joint venture (VC) in Startup Thailand, FlowAccount. provision Lead Investor along with three other investors, FlowAccount is a potential business partner working with the bank. Has expertise in developing SME accounting systems.
The FlowAccount account system can synchronize company accounts with the bank account. And K-PLUS SME Corporate Banking is a partnership that caters to both banks, customers and startup companies. Beacon VC also invests through venture capital funds. (VC Fund) in Singapore named Dymon Asia, one of Asia's leading venture capital funds focused on Fin Tech. In addition, there are currently two investment plans underway, with total investment value of over 200 million baht.
The main objective of Beacon Venture Capital's investment is to create a sustainable profit for the bank, with a strategy of Value Proposition for its products and services. Reducing the time or cost of innovation. Utilizing First Mover Advantage to Reach and Create Innovation Leadership for the Bank And the development of expertise for personnel and technological development of the bank.
Mr. Thanapong added that the Beacon VC logo is a shining lighthouse, which guides the Fin Tech and startup partners. And when combined with KBTG's digital technology combined with KBank's digital partnership, the Bank's customer database of over 14.2 million customers can be developed into innovative products or services. Perfect for customers' needs in fast time to market. The Next Building Block concept, to complement the three ecosystems of the bank, the Digital Partnership KBTG and the Beacon VC, will help drive growth steadily and bring sustainability to the bank in the long run. Ms. Khattiya added.
Re-disseminated by The Asian Banker
