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KBank establishes fintech company in China

Thursday 25 June 2020 09:28 CET | News

KASIKORNBANK (KBank) has established KASIKORN Vision Information Technology, a fintech company wholly owned by KASIKORN Vision (KVision) with registered capital of RMB 300 million.

Thus, it is the first fintech company to be set up by a foreign bank in Shenzhen, China in 2020, according to the official press release. The company’s main business will involve the design, creation, and research of new technologies. It has formulated a five-year operating plan to support the future development and provision of financial technology.

The company’s main business involves the design and creation of IT systems, research of new technologies, search for new business models conducive to digital banking and digital economic systems, as well as the development and testing of prototype products and provision of new financial technologies to KASIKORNBANK FINANCIAL CONGLOMERATE and its customers.

KASIKORN Vision Information Technology will promote the expansion of financial science and technology services to ASEAN countries, and aims to make Shenzhen an important node for the Guangdong-Hong Kong-Macau Greater Bay Area, which is an important support pillar for the Belt and Road Initiative to reach out and connect with ASEAN countries. This would benefit ASEAN and support China-ASEAN economic and financial cooperation.

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Keywords: KASIKORNBANK, KBank, fintech, China, banking, fintech, technology, digital
Categories: Banking & Fintech | Payments General
Countries: China
This article is part of category

Banking & Fintech