Krung Thai private-labels internet banking

The Thai bank offers The Bank of New York''s online payment and trade servicing to its customers.

The Bank of New York has announced an expansion of its electronic banking and cash management services agreement with Krung Thai Bank by entering a third party internet deal.

Krung Thai is private-labelling The Bank of New York's web-enabled payment and trade information products. The services are being provided through The Bank of New York's branch network in the US and Asia.

The arrangement allows Krung Thai customers to increase their efficiency in meeting their trade and payment needs, says Eric Kamback, executive vice president and head of global payment and trade services at The Bank of New York.

"This alliance reflects our continued commitment to providing our global client base with high quality service, leading technology and timely access to our processing network."

Pongsathorn Siriyothin, first senior executive vice president of Krung Thai Bank, said, "The Bank of New York's proprietary payment and trade services technology provides us with state-of-the-art internet services that connect seamlessly with our back-office systems. Together with the bank's processing network, we are able to offer very competitive trade and payment services to the Thai marketplace."