Siam Commercial Bank Plans to Be a Fully Digital Bankby Fintech News Singapore February 20, 2023
The Siam Commercial Bank (SCB) has unveiled its plans to become a fully digital bank in wealth management through its “Digital Bank with Human Touch” vision.
The bank will be doubling down on its efforts to create “cutting-edge digital products and services that cater to a wide variety of demographics”.
SCB has also revamped its management structure where the digital banking, information technology, and operations departments will now be reporting directly to the bank’s President and Chief Technology Officer.
In terms of its wealth management service offerings, SCB has formed a network of relationship managers, an array of investment products, and reputable partners.
Moving forward, SCB said that it aims to facilitate the growth of wealth for retail as well as corporate customers.
Additionally, SCB plans to expand its loan portfolio further, having disbursed an overall of 2.3 trillion baht as of 31 December 2022.
The disbursements comprises 980 billion baht in personal loans, 410 billion baht in loans to small and medium-sized enterprises, and 920 billion baht in loans to large corporations.
Kris Chantanotoke, Chief Executive Officer of Siam Commercial Bank said,
“… an increasing number of clients have access to financial services via digital channels, prompting SCB to establish goals based on its strengths in response to changing business landscapes.
Therefore, it is essential for the bank to continually evolve to become “a better bank” that provides more than standard banking products and services and that is easily accessible across channels.”