SCBX is confident of launching a Virtual Bank by the end of this year, focusing on deposit and loan services.
SCBX is confident of launching “BankX” in full by the end of this year, preparing to apply for a Virtual Bank license. The core principles emphasize a stable system and rigorous risk management, enabling it to compete with all players in the market.
June 8, 2569 — Mr. Arthit Nantawittaya, Chief Executive Officer of SCBX Public Company Limited, revealed the progress in establishing BankX Public Company Limited, the group's branchless or virtual bank. He stated that the company plans and aims to launch the service by the end of this year, and that all operations are currently proceeding according to plan.
"Virtual banking is a new type of banking that's just starting out. It doesn't mean it will be successful immediately upon launch. The important thing is to build a strong organization from day one."
Mr. Arthit stated that BankX's infrastructure development will focus on key areas, namely: Robust technological system The back-end system must be stable, operate without interruption, and be ready to handle the increasing volume of transactions expected to grow and expand in the future.
Risk management There is a highly effective risk management and control system in place, and compliance with regulations is required.Comply with the rules and regulations of the Bank of Thailand. (Bank of Thailand) in an orderly and strict manner.
"We are taking our time to ensure everything is in order and as stable as possible, because we want to make sure that all services to be released are efficient and 100% ready by the end of the year."
Mr. Arthit also stated that the entire process of opening the service requires obtaining an official license before it can commence operations and provide services to the public. For the initial financial products and services to be launched, these will be basic services that the bank can fully offer, covering both deposit services and loan products to meet customer needs.
"As a new player with technological readiness, we are ready to compete with everyone and every player in the market."
Bank X and Ascend Bank are jointly announcing the launch of a Virtual Bank this year.
