SCBX has stepped up its partnership with KakaoBank and WeBank Technology Services as the three groups move ahead with plans to launch a virtual bank in Thailand.

The group said the partners have formalised a tri-party collaboration to combine their capabilities and prepare for the next phase of development.

The project is aimed at building a fully digital bank focused on improving access to financial services for individuals and small businesses in the Thai market.

Under the partnership, SCBX will contribute its local market expertise and experience in large-scale financial operations.

KakaoBank will bring its track record in running a mobile-first digital bank, including product development and customer experience design.

WeBank Technology Services will support the initiative with its digital banking infrastructure and technology, including artificial intelligence capabilities.

The partners said artificial intelligence (AI) will be embedded into the bank’s core systems from an early stage, with the aim of improving personalisation, service efficiency and data-driven decision-making.

Arthid Nanthawithaya, Chief Executive Officer of SCBX, said,

“This collaboration reflects our belief that the future of banking must be more inclusive, more accessible, and driven by technology with purpose.

By working closely with KakaoBank and WeBank Technology Services, we are advancing the development of a virtual bank designed to close longstanding gaps in financial access, elevate customer experience through simpler digital services, and bring meaningful innovation to Thailand’s financial ecosystem in support of sustainable growth.”

The three companies said they will continue joint work on technology development, service design and operational readiness as the project moves toward implementation.