Home Tidlor Story Digital Ngern Tid Lor’s business concept in the digital era: Data is the New Oil

Ngern Tid Lor’s business concept in the digital era: Data is the New Oil

05 September 2022
Ngern Tid Lor’s business concept in the digital era:  Data is the New Oil

“Data is the new oil” is a saying that describes how data has now become an immensely valuable resource today. But, the question is, how do we extract the maximum value out of data?

For Ngern Tid Lor Public Company Limited, the company that drives business opportunities by synthesizing data to enhance customer experience through Omni-channel platforms, especially a Mobile Application ‘Ngern Tid Lor’ which won the Product Innovation Awards 2022 in the Finance-Investment Category.

The application has achieved great success by received 1.2 million downloads since its first launch, as of April 2022, far exceeding the initial target of 50,000 downloads set when the application was developed. This is a huge success and pride for the developer team, especially when the application was developed by a microfinance and insurance company that is not a major player like commercial bank.

In an interview with Miss Pakamon Tulyapizitchai, Head of Digital Transformation at Ngern Tid Lor Public Company Limited, she admitted that achieving over one million application downloads in a year is a success beyond expectations. Consequently, developers need to think on how to maintain and improve customer retention. We want customers to keep using the application time and time again, not just one-time users. Therefore, we need to have killer features that deliver excellent user experience and respond to customer behavior effectively

The application is designed with simple yet impressive functionalities that deliver a good experience to customers such as features that facilitate them to buy compulsory auto insurance and get instant cover in 5 minutes, check their accounts and personal information 24/7, complete loan payments online by creating a QR code to pay through every banking application, manage payments, monitor credit balances, and access financial literacy that helps them pay off debts sustainably. In addition, they can check withdrawal amounts from their TIDLOR Card over the past 12 months, as well as invoices and products generated and offered by Ngern Tid Lor.

The killer features make it easy and convenient for customers to access services and manage their information in real-time 24/7, without the need to travel to a branch. As an innovation-driven microfinance services company, Ngern Tid Lor aims to pioneer in and embrace IT platforms to enhance Omni-channel customer experiences under the concept of creating fair, transparent and responsible financial services for the underbanked. At the heart of our platform development, Ngern Tid Lor strives to utilize AI and Machine Learning to drive better business outcomes.

These mentioned values could clearly describe why and how the Ngern Tid Lor application has received and deserved winning from Product Innovation Award 2022 in the Finance-Investment Category.

Source: Business Plus

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