- SCB’s “Digital Bank with Human Touch” strategy blends technology with human-centred service.
- The transformation responds to rising fintech competition and shifting customer expectations.
SCB’s transformation journey and digital ambitions
Founded by royal charter in 1906, Siam Commercial Bank has long held the status of Thailand’s first commercial bank and today operates as a leading universal bank offering services across retail, corporate and investment banking. With its strategic vision to become “The Most Admired Bank”, SCB launched a transformation plan known as “SCB Transformation”, alongside the “Going Upside Down” model to reimagine its business for the digital age.
Under its “Digital Bank with Human Touch” initiative, the bank has introduced AI-driven systems in retail underwriting, digital wealth chatbots and advisory tools powered by machine learning. These innovations mark a decisive step toward SCB’s goal of becoming an “AI-First Bank”, using technology to enhance efficiency, decision-making and customer experience while preserving personal service.
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Why the shift matters in the broader industry
Across the global banking landscape, legacy institutions are racing to adapt as fintech challengers and digital-only platforms reshape consumer expectations. SCB’s digital transformation mirrors this broader shift: tackling the challenges of ageing infrastructure, tightening regulation and evolving data-protection standards while exploring new platform-based business models.
A company statement underscored the urgency: “Customers have come to expect sophisticated and convenient digital banking and non-banking services that help them move through daily life with greater ease.”
By investing in digital platforms and fintech ventures—such as its strategic investment in Indonesia’s Akulaku—SCB is expanding its reach beyond Thailand to become a regional fintech ecosystem player. Its success will hinge on execution: delivering seamless digital experiences, maintaining compliance and ensuring that innovation translates into tangible customer value.
Siam Commercial Bank’s transformation illustrates how established financial institutions must evolve to remain relevant—thinking like a technology company while upholding the trust and stability that define modern banking.
