Kasikornbank Partners with Lu International To Develop Online Wealth Management Platform
(19 August 2020 – Thailand) Kasikornbank and Lu International (Singapore), a subsidiary of China’s retail fintech enterprise Lufax Holding, have recently announced a partnership to establish an online wealth management platform for retail investors in Thailand.
The partnership allows Kasikornbank to leverage Lu International’s technology including Lu Global, an online wealth management mobile platform that adopts Know Your Product (KYP) and Know Your Customer (KYC) compliance procedures, alongside an Anti-Money Laundering (AML) and anti-fraud system.
“Together with Kasikornbank who has a long history of local operations and has built a strong customer base in this market, we believe this partnership will accelerate the pace of digital transformation within the financial institution industry in Thailand and across the Southeast Asian region,” said Lufax Holding CEO Greg Gibb.
“With the necessary technical support coupled with fintech innovation, Kasikornbank has successfully achieved digital transformation through the partnership with Lu International, as well as the help of an open banking services model. We are ready to create a digital service platform to allow Thai individuals and businesses to go beyond borders to capitalise on massive opportunities in the ‘Era of Asia’,” said Kasikornbank CEO Kattiya Indaravijaya.
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