SCBX, a financial technology group based in Thailand, has teamed up with KakaoBank and WeBank Technology Services to establish a virtual bank in the country.

With this strategic collaboration, the partners seek to introduce a digital banking entity into the Thai marketplace. This initiative aligns with their shared goal of enhancing the efficiency and accessibility of financial services through innovation and technology.

Enhancing Financial Services Through Digital Solutions

The three companies are committed to developing customer-centric digital products that cater to the diverse needs of both individuals and small and medium-sized enterprises (SMEs) in Thailand. The new virtual bank aims to empower customers by assisting them in achieving their financial objectives.

SCBX will bring its deep understanding of Thailand’s financial landscape, customer behavior, and large-scale operations expertise to the partnership. KakaoBank, known for its mobile-first approach and advanced digital banking practices, will contribute its knowledge in product innovation, user experience design, and customer service delivery. WeBank will leverage its technological capabilities, scalable infrastructure, and AI-driven solutions developed through serving millions of global users.

A key feature of the virtual bank is the integration of artificial intelligence from the outset. By embedding AI into core processes and customer interactions, the platform plans to become an AI-native entity capable of delivering personalized digital experiences, improving service efficiency, and supporting data-driven decision-making. This will help achieve high-performance banking while promoting inclusivity and accessibility.

SCBX expressed its commitment to making banking more inclusive and accessible through technological advancements. The partnership with KakaoBank and WeBank aims to drive this vision forward by creating a virtual bank that fills gaps in financial access, simplifies customer journeys, and provides greater value and meaningful development for the Thai market.

As they proceed, the companies will concentrate on technological advancements, service design improvements, and operational readiness. Their efforts are also geared towards adhering to local regulatory requirements and tailoring their services specifically to meet the needs of the Thai market.