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Ngern Tidlor: Business Unusual Leads to Sustainable Success

25 March 2024
Ngern Tidlor: Business Unusual Leads to Sustainable Success
The abnormal global situation, which has begun in the year 2023 due to the impact of COVID-19 combined with geopolitical conflicts occurring in several countries, has resulted in global economic fluctuations. Businesses are facing unpredictable changes. Some may stagnate, while the worst-case scenario could be bankruptcy or disappearance.

In this situation, Ngern Tidlor will prove that "Business Unusual" is a concept and principle that can guide the organization to survive and grow stronger in the face of challenges.

This article will explore the strategy of "Business Unusual," which is the heart driving the organization through crises. It was also the theme of the Ngern Tidlor Leadership Meeting, or NTL OPENBOX 2024, held in March 2024. Top executives gathered to share the company's vision and goals, serving as inspiration to ignite motivation and ensure every leader sees the same picture, aiming to lead the organization to survive and thrive in the long term.

Belief is the Guiding Light for our Journey

Piyasak Ukritnukun, a Managing Director of Ngern Tidlor Public Company Limited, shared the belief influencing how Ngern Tidlor operates the business in a letter to shareholders 2023 as followings;

“I will expand on this to clarify how NTLers’ belief in social impact, driven by our genuine desire to help the underbanked, leads to superior product design and translates into business performance. We anchor our organization to this issue not because it makes for good headlines and branding but rather because it benefits society, ensures strength and sustainability for our business, and reflects what NTLers deeply value.’


This "belief" is not just rhetoric but a "compass" guiding Ngern Tidlor through the selection of individuals who share the same beliefs and values to work in the organization from the beginning.


And when the sentiments and awareness of ordinary people who empathize and understand the limitations of customers come together, it creates a powerful impetus to develop innovative products and services that provide fair, transparent, and inclusive financial services, ultimately leading to better quality of life for customers.


Furthermore, Ngern Tidlor also places importance on "investing in people" and "investing in technology" because we believe that both are key to enhancing the concept of Business Unusual (Think different, Make Impact) within the organization and helping to achieve Ngern Tidlor's goals.

The Proven Value of 'Business Unusual' in the Loan Business

For the loan business, which is the cornerstone of Ngern Tidlor's operations, the concept of "Business Unusual," especially regarding investments in people and technology, have made a significant difference, allowing Ngern Tidlor to differentiate itself from its competitors. By developing products and services that can quickly meet the emergency needs of customers, while providing peace of mind to customers through transparent work processes and documents, Ngern Tidlor continues to be profitable and able to manage potential risks. See examples below:

Tidlor Card: Emergency Cash Withdrawal Anytime

Despite facing unforeseen circumstances in the year 2023, which had an impact on the vehicle title loan business, Tidlor Card still maintained its credit balance, growing its customer base, and kept being the number one admired brand in the industry for six consecutive years. The Tidlor Card is one of the key strategies that emerged from an understanding of customers' needs and empathy with the customers. Aiming to provide customers with access to funds in times of need, led to an incredible success where 644,000 Tidlor Cards were issued to Ngern Tidlor’s customers as of December 31, 2023.


E-Withdrawal: Convenient Technology for Credit Transfers

To provide customers with easier access to financial services, Ngern Tidlor maintains its competitive advantage through continuous innovation such as adding new features to the Ngern Tidlor mobile app. One such feature is the ability to transfer cash to bank accounts through the app, making it even more convenient for customers as they no longer need to travel to branches or ATMs. Six months after the introduction of this feature, the business results for the year 2023 have seen significant growth:

  • Customers have withdrawn money through the system approximately 1.7 million times.
  • The total amount of credit transferred is approximately 3.4 trillion baht (as of the year 2023).
  • 63% of transfers were made without using ATMs.

Adjusting Branch Growth Strategies to Increase Quality and Service Standards.

While players in the market are advancing by opening new branches, Ngern Tidlor is 'thinking differently' by adjusting branch growth strategies to improve quality and service standards. Here are the forthcoming results aimed at developing the quality and elevating the service of Ngern Tidlor:

  • Adjusting the operating hours of some potential branches to provide service 7 days a week, along with extending operating hours to accommodate the changing lifestyles of customers. 
  • Relaxing financial policies to allow customers to benefit from more flexible loan terms, better meeting customer needs.
  • Developing our staff to be both "financial advisors and insurance consultants," as well as "benefit custodians for customers" simultaneously.

'Business Unusual' Leads to Phenomenal Results

Shield Insurance

The business of Ngern Tid Lor Public Company doesn't stop at just providing loan products. We recognize the importance of having 'insurance' as a tool to assist and provide life security to customers when facing unforeseen circumstances. Our insurance brokerage business is the intention-driven, aiming to help ensure customers' lives are not disrupted.

  • Being a pioneer by launching 0% cash insurance installment to give customers more access to insurance.
  • Setting a new standard for insurance brokers by being a 'service broker,' dedicated to providing a good experience for customers from sale to claim, to provide peace of mind and protect customers' rights.
  • Establishing Call Center 1501 to take care of and assist customers with all insurance matters 24/7.

With these good intentions, 'Shield Insurance' has become the number 1 insurance broker ready to provide face-to-face insurance consultations (Face to Face Marketing) from licensed insurance agents of over 5,000 nationwide. And its non-life insurance premium has grown by leaps and bounds, reaching 25% in 2023, while the non-life insurance market grew only 3-4%.


Simultaneously, the 'Areegator' platform, which stems from the intention to assist retail insurance agents in growing alongside the ever-expanding Ngern Tid Lor Public Company Limited, collaborates to expand access to insurance products for people in Thai society. The platform offers insurance products from more than 15 leading insurance companies. Through managing operations with the concepts of sincerity, understanding, and growing together, there has been a significant leap in both membership and increased revenue, namely:

  • Membership increased eightfold in 4 years, from 1,430 people in 2020 to 8,000 people in 2023.
  • Policies grew by more than 30 times from the first year.

Meanwhile, newcomers like heygoody, a modernized online insurance broker, which meets the demand for purchasing insurance with telesales free, by enabling self-guided transactions in just 5 minutes. This caters to the needs of the introverted demographic who dislike being disturbed, which accounts for up to 48% of Thais. heygoody has managed to create outstanding results, spending only 10 months using only 20 million baht and a team of only a few people, while other players could take up to 2 years and require an investment of up to 80 million baht to create a similar platform!


Tidlor Story by


who hopes for Thai society to have better financial health