Last year was a big one for Siam Commercial Bank. Its shares were delisted from the local stock exchange in early 2022 as part of a landmark restructuring in which the bank became a subsidiary of a new holding company called SCB X Public Company. The bank also appointed a new chief executive, Kris Chantanotoke, in August 2022.
The revamp was part of SCB X’s vision to be “the most admired financial technology group” in Asean. Its success and ambition will certainly get a boost from SCB’s own strides in embracing technology in nearly every part of its business.
SBC’s ambition has long been to become a leading digital bank, specifically in wealth management, by driving customer engagement, innovating, making its digital channels more efficient and personalizing its products with the help of analytics tools.
To that end, it has rolled out many digital-only offerings to clients. This includes relatively new tools such as the SCB Easy app and other digital lending platforms, which have given a boost to the bank’s client base. The number of SCB Easy app users surged to 14.2