For more than 10 months, Thailand has shut down its airspace from commercial flights to and from the country due to the coronavirus outbreak. The tourism industry, the main income of many businesses, has faced a huge crisis.
Foreign exchange business is one of the businesses that has direct impact. From lost income from exchange fees from foreign tourists entering the country and Thai tourists leaving the country
Today the team is honored by you. Pam – sitamnint Susamawattanakun Managing Director of SRT Forex or Superrich Thailand Forex to talk about the adaptation and the future of the foreign exchange business.
The tourism industry is heavy crisis. How much does the money exchange business affect?
Mr. Pam: The overall picture of the money exchange business has grown to 2 digit each year. Over the past year, it has grown 20% with a trend that more people travel. But when encountering COVID-19 Everything stopped. Because unable to travel Many countries have lockdowns. This resulted in many changes. Both the part of the customer who can not travel to that can And there is no need to exchange money during that period The company itself is a service business. And there are many employees Must adjust during the closure of branches, such as turnover employees Including creating a new department in order to take care of more customers
Strategy adaptation and enhancement
Mr. Pam: With difficult situations Grandchildren of the company that had to shut down We also view that employees have to adjust. Both from the more financial duties to the responsibility Or change to take care of other departments Which is the part where we see the intention of development And accept the changing environment Changing world trends Is that the old knowledge set may not be enough Everything evolves online. Many people choose to learn online. Which is to pull up resources within the organization
That the company has operated until today Is the cooperation of many employees during the closing time of the mall Employees do not stop in place. Always try to contact customers that Does he still have a need for money? So how do we take care of him? From employees who set up a new department to become Client Service to maintain and contact customers. As some customers still have a need to exchange money, but the branch is closed, the mall is closed, the team has figured out which groups of customers want to exchange money And we will be able to facilitate
Until the start of the detention, State Quarantine saw the opportunity that the customers of the embassy group or people traveling from abroad When detained for a full period of time We can go to the money exchange service.
When banks compete in the money exchange business
Mr. Pam: Seeing that the more competition is good Customers have more options. On the other hand, we have to develop in the customer groups that we are working on. Build relationships for customers to choose us With exchange rate rates Service matters Re: activities in which we build relationships with customers It can be said that it delivers more than exchanging money. Gain additional experience from his use of services at Superrich Thailand Forex.
Strengths of SuperRich Thailand
Mr. Pam: More service channels As before, the exchange had to be cash only. Currently there are digital channels. Online too Customers can exchange money, transfer money, make bank payments. Or come to exchange money, then the company can transfer the baht to the account immediately It saves time From before the customer had finished exchanging money, he had to carry the baht to the bank.
For strengths, exchange rate is the most important thing. Followed by the convenience, travel convenience, and convenient communication channels. And with current customer lifestyles Speed matters As for the rate, it is already our jack point. In other words, we can Supply (supply) as customer wants, regardless of the currency.
The future of money exchange
Mr. Pam: With the changing consumer behavior, many adjustments have to be made, both in terms of the COVID measure itself. About using the machine Use UVC technology to clean and sterilize. And the channels that we have developed in order to be able to meet the needs of more customers’ lifestyles Cashless channel to reduce the use of cash. While some of them are now Banknote, the digital future is not new. Now that’s what happened. It is an adaptation to keep up with the world.
