Client: Siam Commercial Bank (SCB)

Industry: Digital Banking, Fintech

Location: Thailand

Challenges

Siam Commercial Bank, the second-largest bank in Thailand and one of the top 150 banks worldwide, embarked on a digital transformation journey to maintain its leadership position in the rapidly evolving banking landscape. The challenges faced by SCB included:

Legacy System Limitations

SCB’s traditional core banking systems were outdated and could not support the bank’s growing digital needs.

Need for Rapid Digitalization

As digital banking became more prevalent, SCB needed to quickly roll out digital services to remain competitive.

Compliance and Security

Ensuring compliance with local data protection laws (PDPA) while transitioning to a digital-first approach.

Expansion of Digital Services

SCB aimed to expand its digital loan services to cover more small- and medium-sized enterprises (SMEs) and individual customers.

Solution

SCB partnered with a technology provider to implement a Lego-style Digital Banking Solution that included:

Cloud-Native Digital Loan Solution

Built on advanced PaaS, this solution enabled SCB to digitize its loan services rapidly and efficiently.

Dual-Core System Architecture

Retaining the incumbent core system while implementing a new digital core to support emerging digital services.

End-to-End Service Rollout

Tailored solutions enabled SCB to roll out services quickly and scale operations to support tens of millions of users.

Key features of the solution included:

  1. High-Performance Capabilities: Achieving 10x higher performance compared to SCB’s in-house system, supporting a large user base and rapid loan application processing.
  2. Local O&M and Security Compliance: Ensuring compliance with PDPA rules and providing 24/7 local technical support.

Implementation

The implementation was carried out over seven months, with significant milestones including:

  • Phased Service Deployment: SCB was able to roll out new digital services in record time, maintaining service continuity while transitioning to a digital-first approach.
  • Security and Compliance Measures: Ensuring all digital services met the strict compliance standards required by local regulations.

Results

SCB’s digital transformation resulted in several key achievements:

Significant Performance Improvement

The new digital core enabled 10x higher performance, allowing SCB to efficiently manage a large user base and quickly approve loan applications.

Increased Customer Engagement

The digital loan services provided by SCB reached more SMEs and individual customers, fulfilling the bank’s goal of expanding financial inclusion.

Continued Leadership in Digital Banking

SCB maintained its position as a digital banking leader in Thailand and Southeast Asia, with its transformation efforts recognized across the industry