KASIKORN Business-Technology Group (KBTG) has achieved a significant milestone with its MAKE by KBank app, surpassing 2 million users in just two years. This accomplishment reflects KBTG's dedication to enhancing financial literacy among the Thai population. The company now aims to reach 5 million users in the next three years by introducing new features to better serve its users.
MAKE by KBank, a personal finance management application, was introduced in 2021 to cater to the financial needs of the younger generation. The app's mission is to make financial discipline effortless and secure, allowing users to find joy in savings, leading to improved financial health.
Mr. Chetaphan Siridanupath, Managing Director of KBTG, stated, "KBTG is setting their eyes on 5 million users within the next three years through enhanced features that will make financial management even easier than before. This includes expanding the core Cloud Pocket feature to give users a better overview of their finances and introducing new payment channels and a comprehensive network of partners."
A fistful of profits – the good, the bad, and the ugly of savings and investing
The MAKE by KBank app offers several exceptional features to facilitate spending and financial management, including:
• Cloud Pocket: This feature helps users manage their funds by separating them into pockets based on their financial goals. Users can create an unlimited number of pockets, set goals, and even lock them to prevent unintended spending. There's also a Shared Cloud Pocket option for saving money with friends, partners, or family members.
• Expense Summary: It categorizes monthly spending, making it easy for users to monitor their financial habits.
• Pop Pay: It enables contactless funds transfer and payments via Bluetooth within a 10-meter range, making transactions convenient, fast, and secure.
• Schedule Transfer (the latest feature in 2023): This feature allows users to schedule up to 20 funds transfers, automatically allocating funds to Cloud Pockets on the desired dates, saving time and effort.
Users also enjoy a high interest rate of 1.5 percent p.a. for an initial deposit of 100,000 Baht.
MAKE by KBank primarily targets individuals under 30 years old and has become popular for managing various financial goals, with Cloud Pockets dedicated to restricted savings and food costs among the most frequently used. Notably, retirement savings have seen a substantial 353 percent growth in usage in 2022, indicating the app's effectiveness in promoting savings and financial discipline.
