Several firms vie for licences
SCB X Plc is teaming up with KakaoBank to set up a consortium to apply for a virtual bank licence from the Bank of Thailand.
SCB X, which is the financial technology conglomerate and holding company of Siam Commercial Bank, signed a cooperation agreement with KakaoBank, the largest digital bank in South Korea, to set up a consortium. SCB X holds the majority of shares and KakaoBank holds at least 20%. There is a plan to attract additional partners to promote greater competitiveness.
The agreement was made as it prepares to apply for a virtual bank licence from the central bank, said Arthid Nanthawithaya, chief…
