I believe that many people will see the news of the announcement of cooperation with giants of SCB in cooperation with both AIS and CP, reflecting that in this era, we will not be slow to adjust the business to keep up with the era.
Mr. Arthit Nanthawittaya, Chief Executive Officer and Chief Executive Officer Siam Commercial Bank said that by 2025, the arrival of decentralized finance technology, the expansion and penetration of global platforms into the financial business. Post-covid consumer behavior and regulations have changed dramatically.
will make the business model (business model) in the intermediaries or traditional bank fee intermediaries will reduce its role. Because it will not be able to meet the new needs and expectations of consumers. The importance of banks to consumers will inevitably decrease and this will inevitably negatively affect investors’ future value proposition to traditional banking.
However, the trend of being disrupted only started six years ago and became very apparent in the next three years. And now is the most important time to question the future of how, in the most intense three years from now, how will SCB transform itself in order to create new value for its shareholders and consumers? including being able to grow with the new world
However, SCB will no longer be limited to traditional banking businesses. However, the financial strength of the current banking business must be used to benefit. Accelerate aggressive expansion into other types of financial businesses that the market needs and build technological capabilities including managing large technology platforms to be on par with global competitors Quickly enter a new arena that is coming up in order to survive the next 3-5 years.
In addition to expanding into the personal finance business, SCB will need to enhance the group’s ability to build and manage a large technology platform after piloting. Robin Hood Food Delivery” It’s the first project To create the ability to compete with global platforms and has built the capability of technology personnel
It started with the establishment of “SCB Tech X” and “Data X” with global partners. To create an in-house technology foundation capable of building and scaling platforms within a short period of time.
In addition, SCB will expand into the global digital asset business to enter the financial world of the future through SCB 10X and SCB Securities Company Limited (SCBS) through joint investment and global fund alliance. and the development of various digital asset businesses in a new business model to create added value for the group in the long run
Therefore, SCB announced the agreement and signed a joint venture agreement. in establishing a company in the name “AISCB” (AISCB) to provide digital financial services such as credit services. Before expanding to other financial services, this is an important step in joining forces to create a new growth business base for the two leading national organizations.
This cooperation between “AIS” and “Siam Commercial Bank” is the first time in Thailand that leading companies in the country’s two main industries, namely Telco and financial institutions, Venture capital to develop financial products that can meet the needs of a wide range of people with digital technology as a key driver.
In addition, there was a resolution that SCB TEN EX, its subsidiaries and companies within the Bank’s financial business group Collaborated with Charoen Pokphand Group (CPG) to set up a $600-800 million Venture Capital fund.
which aims to invest in financial technology such as blockchain, decentralized finance as well as emerging technologies in the future For this collaboration, in addition to joint fund management The two companies will also be joint ventures with non-retail investors. but must comply with the requirements of the relevant financial regulators As a result, the details in this section will be informed of the progress again.
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