SCBX, a major Thai financial holding company, has strengthened its partnership with KakaoBank and WeBank Technology Services as the three companies advance plans to establish a virtual bank in Thailand. The partners have formalized a tri-party collaboration to integrate their respective capabilities and prepare for the next phase of development.
The initiative aims to create a fully digital bank that improves access to financial services for individuals and small businesses in the Thai market. SCBX will contribute its local market knowledge and experience in large-scale financial operations. KakaoBank will provide expertise in operating a mobile-first digital bank, including product development and customer experience design. WeBank Technology Services will offer digital banking infrastructure and technology support, including artificial intelligence capabilities.
Artificial intelligence will be incorporated into the bank’s core systems from the beginning, with the objective of enhancing personalization, service efficiency, and data-driven decision-making.
Arthid Nanthawithaya, Chief Executive Officer of SCBX, stated that the collaboration demonstrates a commitment to making banking more inclusive, accessible, and technology-driven. He added that the partnership seeks to address gaps in financial access, improve customer experience through streamlined digital services, and introduce innovation to Thailand’s financial ecosystem in support of sustainable growth.
The three companies said they will continue working together on technology development, service design, and operational readiness as the project progresses toward launch. The collaboration represents a strategic effort to combine local expertise, mobile banking experience, and advanced digital infrastructure to create a virtual bank tailored to the needs of the Thai market.
(Source: Fintech News Singapore)
