NEC Corporation (Thailand), a leading IT consulting company, has announced three cutting-edge digital finance solutions that will enable the financial industry in Thailand to modernize and cope with the fintech challenges. The three solutions include Wealth Management Solutions; a Sales Engagement Module; and a Universal Lending Platform, and are being showcased at the Bank of Thailand (BOT) Digital Finance Conference 2023, September 14-15, 2023.

NEC worked with Avaloq, an NEC company providing wealth management technology, and BlackRock, a leading provider of financial technology, to develop a dashboard that enables efficient asset management by providing risk level assessment to allow their customers to make more informed portfolio decisions based upon satisfactory return estimates.

A direct result of this collaboration, the concept of "Embedded Finance" will be introduced to allow consumers to access various kinds of financial services such as payments, loans, insurance, and investments without having to leave the platform or application they are using. This model offers consumers a seamless and convenient way to manage their financial activities through a Financial-Service-as-a-Platform, which is powered by blockchain technology.

Mr. Ichiro Kurihara, President of NEC Corporation (Thailand) Ltd., said, "NEC is committed to helping Thailand's financial institutions of all sizes to embrace digital technologies to reshape the future of their financial services."

He added, "Although the global investment in fintech in 2023 is lower due to the economic slow-down, fintech investment still remains positive in the long term and its market is expected to grow, especially in the Asia region."

According to a payment statistics report revealed by BoT, online payments through mobile banking, Internet banking and e-Wallets in Thailand have seen continuous growth in 2022, achieving 92.4 % of the total payment transactions. The figure indicates that online financial services are playing an increasing role in people's financial activities.

Mr. Kurihara said, "The arrival of 'Virtual Banking' that BoT plans to grant a license for in Thailand is also regarded as a significant step to help improve financial inclusion. This allows underserved customers who never have had access, or have limited access, to experience the full suite of banking services."

More information about the solutions

Wealth Management Solutions (by Avaloq)

This is an intelligent automation platform designed to allow wealth managers to organize, track and analyze the investments of their clients to achieve investment goals with features covering portfolio building and discretionary mandate management.

Sales Engagement Module

This increases communications efficiency between consultants and their clients through a secure, seamless, and encrypted conversation via online channels such as LINE, WhatsApp and Facebook Messenger. With this system, the clients can ensure that their conversation data will be protected and can be tracked back at all times.

The solution also helps enhance sales efficiency, enabling investment consultants to improve their sales presentations and make marketing progression when they approach clients. Customers' fundamental data can be utilized for developing more effective sales plans and efficiently closing deals.

For financial organizations that are not providing Wealth Management services but require customer database management, NEC offers a support system that streamlines the process of sales presentations and marketing as well as enhances customer database management by allocating the lists of prospects to the sales teams for follow up. The system can be applied to manage databases of loan customers, insurance customers, and deposit customers with no need to install an additional CRM system.

Universal Lending Platform

This platform aims to improve loan management and help financial organizations offer loan services more productively.

The platform modernizes the entire loan offering process from front-end to back-end systems, including the submission of loan applications; the automatic consideration of credit limits from the collateral; preliminary risk assessments; the calculation of credit rates; the checking of remaining credit limits; and the automatic issuance of invoices, payments, and receipts.

The platform can connect to external databases such as the Blue Book system for used-car value assessments and other credit databases, including KYC databases and the database from Credit Bureau.

NEC's innovative solutions are on display at the BOT Digital Finance Conference at Booth C1, 2^nd floor, Bank of Thailand Learning Center building.

อ่านข่าวเพิ่มเติมฉบับเต็มได้ที่ https://www.thaipr.net/en/finance_en/3383535

Create Date : 16 กันยายน 2566
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