Digital Transformation Consulting

Siam Commercial Bank (SCB) faced significant challenges in transforming its operations to meet the demands of a digital banking environment. Prior to their transformation, SCB had a limited digital infrastructure, which hindered their ability to connect effectively with consumers and manage their operations efficiently. The absence of a cloud-based ERP system restricted their capacity to adjust payments, connect supply chains, and fulfill purchase orders, revealing critical gaps in their digital capabilities.

To address these issues, SCB undertook a comprehensive digital transformation strategy. They replaced outdated applications, migrated to a new cloud-based data lake, and established a digital factory to develop banking applications and new digital products. This strategic overhaul resulted in a dramatic increase in the number of digital application users, soaring from 2.5 million to over 13 million in just one year, 2022.

Looking ahead, SCB aims to evolve into a "fintech business group," focusing on customer-centric technology services, including banking. The newly restructured entity, SCBx, is set to leverage its existing customer base to reach 200 million individuals, with plans to invest in emerging technologies such as blockchain, the metaverse, and Web 3.0. This transformation not only enhances SCB's competitive edge but also positions it as a leader in the rapidly evolving financial technology landscape.