SCB X, a financial technology conglomerate and the holding company of Siam Commercial Bank, is accelerating its transformation into an AI-first organisation and leveraging artificial intelligence (AI) to gain deeper customer insights.
More intensive AI use
According to deputy chief executive Arak Sutivong, the Thai economy in the second half of this year is expected to remain broadly in line with the first half, with an uneven recovery amid persistent volatility and uncertainty.
Against this backdrop, SCB X will continue to prioritise supporting customers in navigating the challenging environment rather than pursuing aggressive loan expansion, Mr Arak said.
The group aims to generate greater returns from its investments in technology and innovation by deploying them more extensively across its operations.
SCB X will continue to pursue a value-focused strategy by placing customers at the centre of its business while creating long-term value for clients, he noted.
Advances in data analytics and AI have significantly enhanced the group's understanding of customer behaviour, said Mr Arak.
By analysing thousands of data points for each customer, SCB X can better identify unique needs and deliver hyper-personalised products and services by leveraging capabilities across the group, rather than relying on the offerings of a single business unit.
"One of our key AI initiatives is the development of an AI-powered chatbot to improve customer interactions," he said.
"The technology has made significant progress in Thai-language capabilities, overcoming earlier limitations in accent recognition, fluency and natural speech."
The broader adoption of AI and technology has also strengthened the group's operational capabilities and supported the loan growth of its Gen 2 businesses, which provide consumer and digital financial services, said Mr Arak.
Gen 2 businesses
SCB X's Gen 2 subsidiaries -- Card X, Auto X, Monix, Abacus Digital and Alpha X -- expanded their combined loan portfolio to 170 billion baht in the first half of 2026, up 5% year-on-year and 7% year-to-date, according to the financial statement filed with the Stock Exchange of Thailand.
The growth was primarily driven by Card X following the transfer of the Wealth Card portfolio from SCB.
Card X's loan portfolio, comprising personal loans and credit card receivables, totalled 97 billion baht in the first half of 2026, increasing 10.8% year-on-year and 12.2% year-to-date.
Continued loan expansion at Monix, supported by targeted customer acquisition and strong digital lending capabilities, also contributed to growth.
However, Auto X reported outstanding loans of 45 billion baht in the first half, down 12.4% year-on-year and 5.6% year-to-date. The decline reflected the company's cautious approach to risk management, including tighter underwriting standards and stricter credit selection criteria to maintain the quality of new lending.
Virtual bank in 2027
SCB X is preparing to launch virtual Bank X, another Gen 2 subsidiary, commencing operations in early 2027.
Mr Arak said Bank X will help maintain a balanced customer base between banked and unbanked segments, with the mix varying depending on the financial products and services offered.
"On the lending side, Bank X will focus on serving unserved and underserved customers in line with the Bank of Thailand's requirements," he said.
"On the deposit side, our target customers will primarily be those who already have access to banking services and have the financial capacity to save."
The group built extensive experience in serving unserved and underserved customers through its Gen 2 businesses and plans to leverage that expertise for virtual banking, said Mr Arak.
The company recognises prudent risk management is a major factor for success in serving these customers, he noted.
In terms of deposits, Bank X will focus on innovative features that encourage long-term savings through personalised financial goals, rather than competing on short-term deposit rates, Mr Arak said.
