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Bangkok Post
Bangkok Post
Business

SCB X, KakaoBank keen on virtual banking

SCB X Bank of Thailand Thailand Thai
Mr Arthid, right, and Mr Ho Yong, left, at the signing.

SCB X Plc is teaming up with KakaoBank to set up a consortium to apply for a virtual bank licence from the Bank of Thailand.

SCB X, which is the financial technology conglomerate and holding company of Siam Commercial Bank, signed a cooperation agreement with KakaoBank, the largest digital bank in South Korea, to set up a consortium. SCB X holds the majority of shares and KakaoBank holds at least 20%. There is a plan to attract additional partners to promote greater competitiveness.

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