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        Early today (28 May 2018), Mr. Tevin Vongvanich, President and Chief Executive Officer, PTT Public Company Limited, presided over the signing ceremony of memorandum of understanding (MOU) of Cooperation in Technology and Innovation between PTT Public Company Limited, Bangkok Bank Public Company Limited, Krungthai Bank Public Company Limited, Bank of Ayudhya Public Company Limited, Kasikornbank Public Company Limited, TMB Bank Public Company Limited, Siam Commercial Bank Public Company Limited, Thanachart Bank Public Company Limited, United Overseas Bank (Thai) Public Company Limited, and Government Savings Bank. The MOU was signed by Mr. Chansin Treenuchagron, Chief Technology and Engineering Officer, PTT Public Company Limited and the 9 banks’ executives to jointly develop financial innovation which will enhance transaction flexibility, moving the country towards Thailand 4.0.

        Mr. Chansin Treenuchagron, PTT Chief Technology and Engineering Officer, said “The cooperation concerning technological and innovation between PTT and 9 other banks is coincided with “Thailand 4.0” policy in transforming the economic structure into an innovation-driven economy. The focus will be on promoting and developing financial structure for all parties, in order to create a flexible business operation. Thus, trust and confidence will be instituted within the workplace leading to further expansion of commercial operation.”

        Mr. Charamporn Jotikasthira, Bangkok Bank Executive Director, said The bank places great emphasis on digital strategic planning as it continuously develops its organization. He said under the MOU the bank will join forces with PTT, the national oil & gas company and the leader in the petroleum and petrochemical industry, in a clear business direction. “I am confident that Bangkok Bank’s strength as a leading bank in the region, coupled with the expertise of PTT, our long-standing business partner, will create excellent opportunities for cooperation in technology and support innovation going forward.”

        Mr. Payong Srivanich, President of Krungthai Bank, said “As the government’s commercial bank, the bank has a core mission to develop and support national economy to move forward with the bank’s strategic plan of Future Banking by applying technology to develop financial innovative products and services which deliver a better, cheaper and faster features for the best benefit of customer and public, and to increase business opportunity without boundaries. This kind of cooperation among organizations at national level will be a key to drive the nation and economy to Thailand 4.0”.

        Mr. Dan Harsono, Krungsri Head of Retail and Consumer Banking Group, said “Through the ‘Think Digital First’ strategy, Krungsri has placed considerable emphasis on applying digital technologies to our product development, particularly the cutting-edge technology – Blockchain, to provide total financial solutions services. We would like to seize this opportunity to leverage our digital technology and expertise in banking and finance for better customer experiences and expand growth in the business arena.”

        Mr. Patchara Samalapa, KBank President, said “KBank is confident that this cooperation will contribute to enhancing business efficiency of PTT Group and the entire value chain, including the group’s counterparties and customers, toward better competitiveness and stronger growth. The unity of the two parties is also a turning point of Thai business sector’s digital innovation development, which will promote a number of pilot projects that will serve as part of the foundation for future economic expansion of Thailand.”

        Mr. Piti Tantakasem, CEO of TMB, said “Today’s MOU signing is another important step of the collaboration between PTT and TMB. I am confident that PTT’s strengths as innovation leader and TMB’s expertise in transactional banking and our commitment towards strengthening supply chain with the Supply Chain Financing Solutions, coupled with technology of the digital age which enables simple & easy transactions, can bring about innovations which will benefit PTT as well as business partners and supply chain, and contribute to the overall economic system of the country.”

        Mr. Wasin Saiyawan, Senior Executive Vice President, Head of Corporate Banking, Siam Commercial Bank, said “Siam Commercial Bank is more than pleased to support PTT Group’s technology and innovation development to smoothly embrace evolving changes in the business.  Capital Ventures is Southeast Asia’s first company with strong capabilities in high technology, such as artificial intelligence (AI).  We sincerely hope that this cooperation will serve as an integral part in propelling the PTT Group to successfully achieve its goals of developing digital services.”

        Ms. Wisarnsri Nilodom, Senior Vice President, Thanachart Bank, said “Thanachart Bank (TBank) is a financial institution whose major shareholder are Thanachart Capital PCL. Canada-based Scotiabank.  Most noteworthy is the fact that TBank has equipped itself with modern technology at par with international standards and in the direction of the World 4.0.  In addition, TBank is a highly agile organization with extensive experience in working with business alliances in various forms of collaboration including, among others, cross-border QR code payment service and cooperation with payment service providers in Thailand.  As a result, TBank stands ready to give its full support in relation to financial information and knowledge in pursuit of both public interest and national interest, as a next step.”

        Ms. Pailin Ngsriwongse, Executive Director, Country Head of Corporate Banking, UOB, said “On behalf of UOB, it is with great pleasure to be a part of today's MOU signing ceremony. It is a quintessential step towards making a transition to digital transformation. We believe that through this partnership, we will be able to attain and sustain competitive advantage in today's digital economy. More importantly, customers will benefit the most from this harmony. Our established and integrated network of more than 500 UOB's branches across Southeast Asia, we are confident that we will be able to support the growing needs of  PTT and offer business seamless connectivity to help PTT seize opportunities in the region.”

        Mr. Pichet Dhammavipark, Senior Executive Vice President, Business and Public Sector Customers Group of Government Savings Bank, said “Over the past few years, GSB has created innovation both in deposits and loans for all segments of customers, including grassroots customer. This cooperation between PTT and the financial institution is a good sign to join in financial innovation planning and development, loan guarantee, payment as well as money transfer. It includes providing financial products and services for risk management which is a mechanism to drive the country's economy under the policy of "Thailand 4.0" to facilitate the financial transactions.”

        The MOU of Cooperation in Technology and Innovation will be effective for a period of 2 years. PTT and the 9 banks will develop polices and strategic directions which will improve financial systems including insurance, financial derivatives, electronic banking, transactions, and related regulations in order to enhance business flexibility and build stakeholders' trust. Thus, creating confidence among related sectors leading to further expansion of commercial operation.