Arthid Nanthawithaya, CEO of SCB X Public Company Limited (SET: SCB), has announced that preparations for the company’s new virtual bank, “BankX Bank Public Company Limited,” remain on track, with the official launch scheduled for the end of 2026. He emphasized that all operational and technological systems are progressing according to plan, without any delays or issues.
SCB is prioritizing comprehensive readiness to ensure a stable and efficient launch capable of supporting future customer growth. The essential foundation of BankX is to create a strong banking operating system from the outset, focusing on three major areas: system stability for high transaction volumes, effective risk and credit management, and rigorous compliance with regulations from the Bank of Thailand.
SCB is partnering with global digital banking leaders: KakaoBank from South Korea and WeBank from China, both renowned for their expertise in technology, customer analytics, and digital lending.
In its initial rollout, BankX will offer complete core banking services, including deposit accounts, payment services, and digital credit products, leveraging advanced technology and data-driven banking to enhance accessibility for retail customers and those underserved by traditional institutions.
Arthid noted that, as a newly established entity, BankX will require time to build customer trust and achieve significant growth. Despite competition from well-established financial institutions, SCB is committed to a long-term strategy, expecting gradual success based on service excellence, operational efficiency, and digital innovation.
BankX is also a pivotal element of SCB’s strategy to expand its digital finance business and serve as a new growth driver for the group. With no physical branches, the bank will focus on delivering technology-driven services, enabling efficient cost management and rapid development of tailored financial products. AI and data analytics will play a significant role in personalizing services and extending credit access to broader customer segments, including freelancers and small businesses.
SCB’s competitive advantages include its extensive customer base and integrated business ecosystem, encompassing digital lending, payments, and new financial solutions to fuel BankX’s long-term growth. Collaboration with KakaoBank and WeBank further strengthens the bank’s technology, cost management, and user experience.
Phillip Securities (Thailand) views the launch of BankX as a positive driver for SCB’s share sentiment, opening new business avenues without materially impacting core profits, despite anticipated early-stage costs.
Meanwhile, Pi Securities highlights SCB’s strengths in digital infrastructure, strong partnerships, and advanced AI, expecting BankX to be a crucial long-term growth engine, especially in the digital lending market and for reaching underserved customers.
