SCB Abacus wins "Digital Disruptor of the Year" by IDC Digital Transformation Awards 2018
SCB Abacus, a subsidiary of Siam Commercial Bank, represented by Ms. Aroonrath Sangalungkarn, Chief Product Officer, was awarded "Digital Disruptor of the Year" for Thailand by IDC Digital Transformation Awards (DX Awards) 2018. IDC's DX Awards recognizes outstanding organizations that have made critical breakthroughs in digital transformation and leveraging disruptive innovation across the Asia Pacific region.
SCB Abacus' project, the E-marketplace Digital Lending Platform was designed using AI-powered algorithms to support the growth of online SMEs. The technology enables personalization of loan products in terms of pricing, tenor, and repayment schedules to match the needs of individual customers. This automated platform helps reduce standard loan process from 3 days to just 15 minutes and is integrated into the core banking system, allowing instant disbursement of approved loans into customer accounts.