AI and Robotics Ventures: ARV and Krungthai sign an MOU to pilot ASEAN's first National Corporate Identification (NCID) platform, digitizing the Corporate KYC process for bank account opening

BANGKOK, July 22, 2022 /PRNewswire/ -- AI and Robotics Ventures (ARV), a leading developer, service provider, and venture builder of AI and Robotics technologies and a subsidiary of PTT Exploration and Production Public Company Limited (PTTEP), partners with Krungthai Bank Public Company Limited, Thailand's leading financial institution, by signing an MOU to pilot ASEAN's first National Corporate Identification (NCID) platform; a transformational solution that achieves an end to end Digital Identification for Corporates accessing any Financial service. NCID transforms the conventional know-your-customer (KYC) process between Corporates and financial institutions, by digitizing an otherwise paper-intensive and laborious process into one which is fast, efficient, transparent, and secure. A more efficient system of KYC unlocks new business opportunities for Financial Institutions and Corporates. NCID platform solves this problem of complex Corporate KYC process by leveraging the concepts of Web 3, Digital ID, Digital document creations and Digital Signatures. Dr. Thana Slanvetpan, General Manager of AI and Robotics Ventures Company Limited (ARV) and Mr. Tawatchai Cheevanon, Senior Executive Vice President, Head of Global Transaction Banking Group, Krungthai Bank Public Company Limited, together signed a Memorandum of Understanding (MOU), with Mr. Sumrid Sumneing, Executive Vice President, Finance and Accounting Group of PTT Exploration and Production Public Company Limited (PTTEP), joining the event to congratulate and witness the signing ceremony at ARV's office at Bhiraj Tower, South Sathorn. Dr. Thana Slanvetpan, General Manager of AI and Robotics Ventures Company Limited (ARV) said, "Conducting transactions between corporates and commercial banks is still plagued by a number of inefficiencies and limitations, including the reliance on paper-based documents and laborious manual processes. The ...Full story available on Benzinga.com