HYBRID SERVICEEngaging head-on with digital giants in price competition may be a risky bet for financial institutions. Banks’ e-commerce platforms are entering a market that is poised to get even more fragmented and will be relatively small, at least in the initial stages. With trust and reputation in place, consumers can be more confident about safety when buying products online through banks’ e-marketplace platforms. Several business models for e-marketplace platforms, including partnerships and acquiring existing platforms, are being considered by BAY, Mr Thakorn said. An e-commerce platform also needs large and ample resources, such as human capital, technology and funding.

Source: Bangkok Post February 11, 2018 23:26 UTC