Siam Commercial Bank Revealing the vision of “Digital Bank with Human Touch”, highlighting the North Star strategy, setting the direction of the organization towards digital banking. with the important mission of being “The number one digital bank in wealth management Ready to deliver a service experience that is seamlessly connected across all channels.
Mr. Krit Chanthanotok Chief Executive Officer Siam Commercial Bank said that SCB is committed to continuously developing a better bank. extending the strength of providing a full range of services Adjust the internal structure to seal the work of digital and technology together. To develop a full digital banking service as a center to drive new growth for businesses Make a move to expand the wealth group with the Digital Wealth model, opening up the Emerging Wealth market, targeting the new generation with the potential to start building wealth.
By bringing digital to use to recommend investment options Looking at the recovering economy to accelerate growth for both retail and business customers Aiming to be a market leader in wealth management that can help plan to increase wealth for customers of all groups. Combining technological strengths from data and sincere service from staff Let customers experience the digital banking that understands and understands more than ever. Affirming strength with continuous and sustainable growth goals
through balancing the portfolio and expanding the quality credit base, setting a 3-year goal, generating a return on equity (ROE) of more than 10%, number 1 wealth wallet share, ready to become the number one platform in the hearts of all groups of customers by 2025.
At present, Siam Commercial Bank remains strong in providing a full range of services or Universal Bank by being the market leader in all product groups, such as number one in housing loans. number one in business Bancassurance is also a top 3 in the large business lending category. SME business loans retail customer credit and in terms of wealth management It is also among the top 3 banks with the most users of financial applications in the country.
However, after the COVID-19 crisis We see economic changes that are accelerating from both the public and private sectors. The banking sector must play a key role in supporting economic growth. and help entrepreneurs have access to equal funding sources. and looking for opportunities to help all segments of banking customers gain wealth from economic growth in the period ahead
In addition, consumers’ behaviors are increasingly accessing financial services through digital channels. Causing Siam Commercial Bank to set clear goals based on the bank’s strengths. in response to changing environmental factors
In the next step of Siam Commercial Bank We are committed to developing the organization to be “Better Bank” continues The role of the bank must be more than the bank. And make it easy for customers to reach in every channel. Not only credit But include images of investment advice. financial management and risk management with true knowledge and understanding of customers The bank therefore sets a new vision to be “Digital Bank with Human Touch. We know our customers through data. Know the heart of the customer through feelings.
To be a guideline to develop the organization to be a better bank in all aspects by formulating a strategy to be the North Star to guide the business under the 3-year plan, which is to become the number one digital bank in wealth management. Ready to provide a service experience that is seamlessly connected across all channels. which consists of 3 main topics:
- Transform your organization into a digital bank after the bank has gone through the digital disruption
that the technology companies that compete in the financial sector Nowadays we find that only a few of them are profitable while most banks continue to be profitable. With a strong capital base and clearer service features At the same time, the digital usage trend of Thai people is currently at a high level. It is the number one use of financial applications in ASEAN and about 94% of Thai people have access to financial services. and there is an increasing demand for digital services Therefore, we need to upgrade the service to a fully digital bank. and provide complete digital financial services By focusing on the development of digital products and services for all customer groups. together with linking service information to provide new experiences to customers. and operating together under the supervision of President and Chief Executive Officer of the Technology Group, all 3 of which play an important role in elevating the Bank to become a fully integrated digital bank. Not only the service system only But it will play an important part in generating income. and growth for the Bank in the future
- Be the market leader in wealth management The bank has laid a complete foundation of wealth management services.
both in terms of personnel At present, there is the highest number of investment advisors certified by leading Asian institutions in Thailand. wide range of investment products strong business partner As for the customer group structure under the strategy of the Mother Vehicle of the SCB X Group, the Bank’s current customer base is middle to upper class customers. Coupled with the recovering economy after the COVID crisis, resulting in a return of wealth.
This is an opportunity for banks to prepare to offer comprehensive wealth management services. Not only to increase the wealth of personal assets only But it also means growing the customer’s business. both business expansion different forms of fundraising or expansion of investment abroad to business customers and corporate customers with products and services given by the bank which is considered to expand wealth for all groups of customers
“In addition, according to the strategy that has set the digital bank to be the North Star to guide the organization from now on. Banks must drive product and service development processes that arise from this, taking into account the digital experience of all customer segments. The bank is initiating a project to use technology to create wealth for a wider range of customers (Digital Wealth), not focusing on the already wealthy customer group. But focusing on the Emerging Wealth group, a group of new generations with potential and desire to create early wealth There may not be many assets yet, but there is a constant desire to invest in order to grow wealth in the long run.
which usually plan investments by themselves without expert advice The bank therefore wants to use digital as a means of providing suitable savings and investment options for customers in this group. to create personalized offers (Hyper-personalized offer) that encourages clients to see the wealth creation opportunities that are possible in many ways. This will be a prototype project for applying technology to create new experiences for other groups of customers in the future.
- Enhance the service experience that is seamlessly connected across all channels.
The bank believes that the power of technology is only part of the customer experience through one channel. But the heart of Digital Bank with Human Touch is a good experience at the point of service through various channels. of a variety of banks We are committed to improving the service experience by extending the seamless connection between customer touchpoints in both the digital and physical worlds.
Including the improvement and development of the infrastructure to be modernized to increase flexibility and capacity to provide broad services. so that customers can access financial services anytime, anywhere, through familiar channels All customer segments must have a seamless experience across multiple service channels with the same standard across all channels.
At the same time, the Bank also places importance on balancing the credit portfolio for sustainable growth. From now on, the bank’s business will focus on secured loans. It targets gradual credit growth and managing risk-adjusted yields. and give weight to high-quality customers To improve asset quality during periods of rising interest rates in the financial market.
and economic situations that may fluctuate Along with operations that focus on sustainability policies in every dimension, including customer service. As of December 31, 2022, the Bank has a total credit portfolio of 2.3 trillion baht, divided into personal loans of 9.8 billion baht, SME loans of 4.1 billion baht, and large business loans of 9.2 hundred thousand. million baht
For business goals in 2023, the Bank focuses on balancing loan portfolio expansion with maintaining quality. The goal is to grow loans at no more than 5% and generate a return on equity (ROE) of more than 10%, while the cost-to-income ratio is set at about 40%. according to the 3-year plan
In 2025, the Bank aims to reduce the expense-to-income ratio below 40%, including becoming the number 1 wealth wallet share, and pushing for green finance by an additional 100 billion baht in accordance with its sustainability intention. (ESG) with the bank’s North Star strategy will drive SCB to become a better bank in accordance with the Digital Bank with Human Touch vision, impressing customers with services that know their customers through data. and know the hearts of customers through feelings and become the number one in the hearts of every group of customers in 2025
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