Krungthai Bank's WE CARE Initiative wins Thailand Service Experience of the Year - Banking award

The bank’s dedication to customer feedback and employee recognition earned them a win from the Asian Experience Awards.

Krungthai Bank PCL., a prominent commercial bank in Thailand, has proudly clinched the prestigious Thailand Service Experience of the Year - Banking award at the highly regarded Asian Experience Awards. This esteemed accolade recognises Krungthai Bank's outstanding achievements in boosting customer satisfaction and service excellence through its groundbreaking WE CARE initiative.

The Asian Experience Awards, renowned for their celebration of excellence in customer-centric endeavours throughout Asia, have acknowledged Krungthai Bank's steadfast dedication to heeding customer feedback and promptly delivering solutions to enhance the branch service experience.

In the year 2022, Krungthai Bank introduced the revolutionary WE CARE Project, a testament to its unwavering commitment to customer-centricity. During the challenging COVID-19 pandemic, the bank experienced a substantial increase in customer utilisation of its services and visits to its branches. In response, WE CARE was unveiled as a powerful tool for customers to provide instant feedback on their service experiences by simply scanning a QR Code at the branch counter.

Through the ONE Krungthai mobile application, which is an internal application providing employees with tools for enhancing their efficiency and overall work experience, branch managers and assistant branch managers are promptly alerted to customer feedback. WE CARE also offers a platform for customers to express their appreciation for branch staff.

Remarkably, those branch staff members who receive the most commendations are bestowed with the title of "WE CARE Champion." This initiative has significantly bolstered employee morale, fostered engagement, and incentivised staff to consistently deliver exemplary customer service.
In the year 2022 alone, WE CARE received a total of 524,922 cases, boasting an impressive 99.7% customer satisfaction rate. The implementation of WE CARE has led to a significant 28% reduction in complaints concerning branch staff, along with an impressive increase in the Service Level Agreement (SLA) compliance rate for resolving complaints, from 94.95% in 2021 to 97.89% in 2022.

Notably, Krungthai Bank's Net Promoter Score (NPS) amongst branch-visiting customers saw an upward trajectory, climbing from 46 in 2021 to an impressive 53 in 2022. Overall customer satisfaction amongst branch customers also witnessed remarkable growth, surging from 8.62 in 2021 to an outstanding 8.84 in 2022.

The bank's commitment to customer service is further underscored by the introduction of chatbot services. The synergy of automated and human agents resulted in a remarkable increase in the bank's response rate, soaring from 93.35% in 2021 to an astounding 99.98% in 2022.

Krungthai Bank has consistently showcased its commitment to enhancing the customer experience by embracing innovative communication channels and placing customer happiness at the forefront. Simultaneously, it has nurtured employee engagement by acknowledging and celebrating exceptional performance. The WE CARE initiative stands as a testament to the bank's unwavering dedication to the well-being of its customers, the Thai citizenry, the bank itself, and its valued employees.

The Asian Experience Awards is presented by Asian Business Review Magazine. To view the full list of winners, click here. If you want to join the 2024 awards programme and be acclaimed for providing meaningful brand experiences to stakeholders, please contact Jane Patiag at jane@charltonmediamail.com.