SCB Drives AI Integration for Significant Digital Revenue Spike
Siam Commercial Bank is advancing digital transformation with AI technologies in wealth management. They launched AI underwriting, chatbot, and alert features due to a 23% increase in app usage. The AI strategies aim to boost efficiency while maintaining human oversight, ensuring sustainable growth and competitive edge.
Siam Commercial Bank (SCB) is advancing its digital transformation by deploying innovative AI technologies to solidify its standing as a leading digital bank in wealth management.
CEO Kris Chantanotoke highlighted that prioritizing customer-centric services is essential in the competitive finance sector.
SCB has introduced an AI underwriting model for retail loan approvals, an AI advisory chatbot, and a personalized investment alert feature named My Alert.
These innovations are in response to a 23% year-on-year increase in the usage of the SCB Easy app.
The bank has observed a significant rise in digital insurance sales and investment activities, with digital transactions surpassing traditional methods by up to seven times.
SCB has also implemented AI to optimize various departmental processes, enhancing overall operational efficiency.
Despite the automation, human oversight remains critical, and SCB has introduced a training program to help employees adapt to AI-driven tasks.
This strategic focus aims to ensure sustainable growth and strengthen SCB's market position amid rising technological competition.
CEO Kris Chantanotoke highlighted that prioritizing customer-centric services is essential in the competitive finance sector.
SCB has introduced an AI underwriting model for retail loan approvals, an AI advisory chatbot, and a personalized investment alert feature named My Alert.
These innovations are in response to a 23% year-on-year increase in the usage of the SCB Easy app.
The bank has observed a significant rise in digital insurance sales and investment activities, with digital transactions surpassing traditional methods by up to seven times.
SCB has also implemented AI to optimize various departmental processes, enhancing overall operational efficiency.
Despite the automation, human oversight remains critical, and SCB has introduced a training program to help employees adapt to AI-driven tasks.
This strategic focus aims to ensure sustainable growth and strengthen SCB's market position amid rising technological competition.
