Thailand-based financial technology group SCBX has partnered with KakaoBank and WeBank Technology Services to create a virtual bank in Thailand.
Building on their ongoing partnership, the three companies aim to launch a virtual bank in the Thai market. This reflects a shared vision to improve efficacy in financial services, expand accessible solutions, and drive optimised developments through digital innovation.
The launch of a virtual bank for financial inclusion
Leveraging their strengths, the companies aim to develop customer-focused digital solutions, addressing the ever-evolving demands and needs of the Thai consumers, particularly individuals and SMEs. The emerging virtual bank will finance and support customers towards achieving their financial goals.
SCBX will contribute with its expertise in Thailand’s financial ecosystems, customer behaviour, and large-scale financial operations, while KakaoBank offers its experience in operating a mobile-first digital bank, product innovations, experience design, and customer-centric service delivery. WeBank offers its support with digital banking technology, scalable infrastructure, and AI features developed through servicing millions of users globally.
A significant principle for the virtual bank is the integration of AI from the outset. Embedding AI into core processes, product design, and customer interactions, the platform plans to become an AI-native bank and deliver personalised digital journeys, improve service efficiency, and support data-driven decision-making. This approach will enable high-performance banking while focusing on inclusion and accessibility.
SCBX mentioned that the alliance reflects its belief that banking must grow to be more inclusive and accessible, driven by technology. The partnership with KakaoBank and WeBank is advancing this vision, supporting the development of a virtual bank designed to bridge gaps in financial access, improve customer journeys through simpler digital solutions, and offer more value and meaningful development in Thailand.
Following the initiative, the three companies will further focus their efforts across technology, service design, and operational readiness as they enter the new phase of implementation. They are also committed to remaining fully compliant with the local regulatory requirements, catering their solutions to the Thai market.
