Major companies are becoming service providers, moving on from their traditional businesses by relying on digital technology and strong partners to foster a competitive edge in the hopes of becoming major regional players.
In the latest case of transformation, Siam Commercial Bank (SCB) recently announced a restructuring to achieve an ambitious goal of becoming a major digital platform service provider under its planned new parent — SCB X — as well as a regional financial tech conglomerate by 2025, with a goal of serving 200 million customers.
SCB plans to establish SCB X to own the group’s operating entities, including SCB. The move aims to create flexibility in operations and better service for a diverse set of customers.
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