SCB Pioneers AI-Driven Banking Services in Thailand
Siam Commercial Bank has introduced AI-based digital loans and other banking services. The digital loan services are available through the SCB Easy mobile app, with plans to boost digital revenue to 25% by 2025. SCB expects modest loan growth of 1 to 2% in 2024, primarily from corporate loans.
Siam Commercial Bank (SCB) has launched AI-equipped banking services aimed at expanding digital loans and improving control over non-performing loans.
Last month, SCB became the first bank in Thailand to offer 100% AI-based digital loan services via its mobile banking app, SCB Easy.
These services include loans for small businesses, mortgages, and automobiles for existing SCB depositors.
SCB's CEO Kris Chantanotoke stated that the interest rates for these loans are determined by the applicant's risk profile.
SCB has 17.8 million customers, with 84% using the SCB Easy app.
The bank aims to boost its digital revenue to 25% of total revenue by 2025.
SCB also uses AI for portfolio and wealth management and remains committed to employee development, planning to leverage AI technology for staff growth.
SCB, Thailand's fourth-largest lender by total assets, plans modest loan growth of 1-2% in 2024, driven mainly by corporate loans.
The bank focuses on selective SME loans and mortgage loans for properties with a minimum price of 5 million baht per unit.
SCB recently reported an unconsolidated net profit of 13.2 billion baht for the first quarter of this year, achieving a cost-to-income ratio of 37.7% and a return on equity of 12.7%.
Last month, SCB became the first bank in Thailand to offer 100% AI-based digital loan services via its mobile banking app, SCB Easy.
These services include loans for small businesses, mortgages, and automobiles for existing SCB depositors.
SCB's CEO Kris Chantanotoke stated that the interest rates for these loans are determined by the applicant's risk profile.
SCB has 17.8 million customers, with 84% using the SCB Easy app.
The bank aims to boost its digital revenue to 25% of total revenue by 2025.
SCB also uses AI for portfolio and wealth management and remains committed to employee development, planning to leverage AI technology for staff growth.
SCB, Thailand's fourth-largest lender by total assets, plans modest loan growth of 1-2% in 2024, driven mainly by corporate loans.
The bank focuses on selective SME loans and mortgage loans for properties with a minimum price of 5 million baht per unit.
SCB recently reported an unconsolidated net profit of 13.2 billion baht for the first quarter of this year, achieving a cost-to-income ratio of 37.7% and a return on equity of 12.7%.
