Kasikornbank is joining with 35 banks from nine countries to launch the Asean+3 Banking Initiative, aimed at enhancing services for customers conducting cross-border transactions.

The collaboration on banking products and services, as well as financial human resources development, will be through the Taksila Asean Banking Forum – a platform for expert bankers to develop training courses and share their experience.

The move aims to reinforce cooperation on financial transactions and to offer international standard banking services prior to the Asean Economic Community (AEC).

Banthoon Lamsam, chairman of KBank, said the regional integration by the end of next year under the AEC will allow for freer movement of capital, goods and services.

This will stimulate economic activities within the Asean+3 bloc and increase trade and investment. Banks in the region have to rapidly adjust to customers’ ever-changing needs in order to provide cross-border trade advice with in-depth information and innovative banking products through efficient channels.

The nine countries are Thailand, China, Japan, South Korea, Indonesia, the Philippines, Cambodia, Vietnam and Laos.

The effort to share expertise in banking business development is the first cooperation of its kind that will bring Asean banking to the international level with the Asean+3 Banking Alliance under the Bangkok Declaration, which will see expert bankers exchange knowledge and share experiences and contribute their expertise that will lead to many financial innovations.

via KBank joins in Asean initiative of tie-up with 35 banks from 9 nations.