Mr Arthid said that the company has allocated a digital investment budget of 2-3 billion baht for this year.
SCB X, a holding company of Siam Commercial Bank (SCB), is keen to obtain a virtual bank licence as part of its five-year business strategy.
Speaking at a general shareholder meeting on Wednesday, Arthid Nanthawithaya, chief executive of SCB X, said the company has a positive view of virtual banking as a new business that can enhance financial inclusion and reduce financial inequality in the Thai market, in which around 10 commercial banks cater mainly to middle to upper-income customers. Lower-income people, who constitute a large proportion of the population, often rely on loan sharks.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
