SCB Abacus, represented by Dr. Anyarat Boonnithivorakul, Chief Operating Officer, received the Global Retail Banking Innovation Awards 2018 in "Best Data Analytics Initiative" category for the development of AI-powered digital lending platform for 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 3-7 days to just 15 minutes and is integrated into the core banking system, allowing instant disbursement of approved loans into customer accounts.
The award is presented by The Digital Banker, a globally trusted news, business intelligence and content distribution provider for the financial services sector. The summit took place at the Carlton Hotel in Singapore.