Business Overview
Strategy Day
Our investment community to learn more about our new growth journey.
SCBX was established in 2021 as part of the reorganization of Siam Commercial Bank, Thailand’s first indigenous bank. SCBX positions itself as a prominent financial technology leader in the ASEAN region and has transitioned beyond traditional banking to become a diversified tech-driven conglomerate.
Vision and Strategic Goals: SCBX aspires to be the "Most Admired Financial Technology Group in ASEAN," with a vision to serve 200 million customers across the region. The group is focused on expanding its technological capabilities through a three-phase strategy over five years, aiming to transform into a leading regional tech company with a market capitalization target of one trillion baht. This transformation is anchored in developing infrastructure centered around cloud computing, AI, and cybersecurity, with a newly established Center of Excellence driving these advancements.
Subsidiaries and Business Pillars: The group’s diverse portfolio is structured across three generations of businesses:
- GEN 1: Traditional banking services, including Siam Commercial Bank and associated financial management and insurance services.
- GEN 2: Consumer and digital finance services, featuring the following companies : CardX (credit and personal loans), AutoX (vehicle title loans), MONIX (digital lending via FINNIX app), ABACUS digital (digital lending via Money Thunder app), and Alpha X (luxury financing services).
- GEN 3: Cutting-edge technology and platform services, featuring the following companies : InnovestX (integrated investing platform), SCB 10X (technology investment), and Purple Ventures (lifestyle platform).
Tech accelerator: SCB TechX and SCB DataX are two accelerators helping other portfolio companies launch businesses at speed with economies of scale. SCB TechX supports the Group on technology capabilities while SCB DataX manages and enhances data capabilities for the Group.
Additionally, SCBX has made strides into ClimateTech, notably through initiatives like its investment in Rise, an ESG-related fund, signaling a strong commitment to sustainability and environmental responsibility.
Nature of Business
We are an investment holding company with portfolio companies divided into three segments (Gen 1-3) and five strategic themes.
SCBX’s key responsibility is to seek investment opportunities that align with the Group’s business strategy and efficiently manage the Group’s capital for sustainable financial returns.
Siam Commercial Bank
Siam Commercial Bank, a direct subsidiary of SCBX, operates as a key component of the group's financial services portfolio. It plays a vital role in funding SCBX's growth journey through its "Better Bank" strategy, which focuses on enhancing digital banking capabilities with a particular focus on expanding digital wealth management offerings, improving loan book quality, and increasing fee income. SCB Bank offers a comprehensive range of financial services, including corporate and housing loans, auto title loans, and personal loans on digital platforms.
CardX
CardX offers a digital finance platform for credit card services, personal loan products and debt collection. Established in November 2021 as a spin-off from the unsecured business segment previously housed within the bank, CardX completed the transfer of its credit card and personal loan operation from the bank in December 2022.
AutoX
AutoX, a direct subsidiary of the SCBX Group established in 2021, specializes in providing title loans, focusing on alleviating financial stress among underserved Thai individuals. The company has launched "Ngern Chaiyo," a title loan solution built on three core principles: Understanding, Accessible, and Reliable. AutoX has started to contribute to the group’s net profit since 2023 and continued to gear up for substantial growth in 2024 by enhancing efficiency and productivity of its current distribution network and increasing fee income.
MONIX
MONIX, a joint-venture FinTech company of SCBX and a Chinese fintech firm, Abakus Group, set up to serve at the forefront of digital unsecured lending solutions for the underbanked in Thailand. Monix offers the AI-driven FINNIX application to over 4.5 million registered users. This application provides instant money in 5 minutes using only alternative data and does not require any paper documents or guarantors.
ABACUS digital
ABACUS digital is a data tech start up with a flagship product, MoneyThunder, an inclusive digital lending application utilizing in-house AI and machine learning capabilities to underwrite loans and provide a completely automated approval experience for consumers. In 2023, ABACUS digital turned around and delivered a profit exceeding Baht 100 million.
Alpha X
Alpha X is a joint venture between SCBX and Millennium Group, established in 2021 to provide hire purchase, leasing, and refinancing services tailored for ultra-high-net-worth customers. This strategic partnership aims to cater to the premium and luxury segments of the market, offering customized financial solutions that meet the specific needs of affluent clients. By leveraging the strengths of both SCBX and Millennium Group, Alpha X is positioned to enhance its service offerings and expand its customer base, contributing to the overall growth and diversification of the SCBX Group's financial services portfolio. Through this venture, Alpha X aspires to establish itself as a leader in the luxury financing sector, aligning with SCBX's vision of becoming a prominent player in the financial technology landscape.
Purple Ventures
Purple Ventures, a direct subsidiary of SCBX, focuses on developing the digital ecosystem through its "Robinhood" platform, which was initially launched to support small food and beverage entrepreneurs. The platform was introduced as a food delivery service with a unique 'Social Enterprise' model to help small restaurants navigate the challenges posed by the COVID-19 crisis. Over time, Robinhood has evolved into a comprehensive 'Thai Super App,' offering a variety of lifestyle services such as travel booking, mart services, express delivery, and ride-hailing.
Despite achieving significant milestones, including creating jobs and providing commission-free services, the app has been operating at a loss, with its financial performance unable to justify continued operations. SCBX has decided to maintain only the food delivery aspect of Robinhood while seeking potential buyers for the platform. This strategic move is part of a broader effort to optimize capital management and maximize shareholder returns, aligning with SCBX's commitment to developing its business as a leading financial technology group.
InnovestX
InnovestX Securities, formerly known as SCB Securities, is the flagship investment arm of the SCBX Group. The transformation into InnovestX marks a strategic shift to focus on the future of finance, investment, and digital assets. InnovestX has launched Thailand's first "Super App" for investing, which integrates a wide range of asset classes, including domestic and international equities, mutual funds, bonds, and digital assets, into a single platform. This rebranding and strategic direction aim to position InnovestX as a leading provider of comprehensive digital asset investment services in the ASEAN region.
SCB10X
SCB 10X is the venture investment arm of SCBX, established in 2020 with a mission to create long-term value through exponential growth and innovation. As a holding company under SCBX, SCB 10X focuses on investing in disruptive technologies and startups. The company operates with a "Moonshot Mission," aiming to build future Thai unicorns, become a leading investor in Southeast Asia, and be the employer of choice for digital talent. SCB 10X leverages its venture capital and venture builder arms to provide strategic and financial support to its portfolio companies, collaborating with top-tier venture capital firms to maximize impact. Through its investments, SCB 10X seeks to introduce cutting-edge technologies and innovative business models to the financial industry, contributing to SCBX's broader vision of transforming into a fintech group.
Token X
Token X is a subsidiary of SCBX, established in 2021, with a mission to serve as a "Tokenization Success Partner" for businesses across Southeast Asia. As a regulated Initial Coin Offering (ICO) portal, Token X offers comprehensive tokenization services, guiding partners from ideation through to execution. The company specializes in digital asset solutions, providing a full suite of services that include ready-to-use blockchain solutions and a network of professional partners. Token X aims to bridge the traditional and digital worlds by leveraging blockchain technology to power the next generation digital economy, enhance financial accessibility, and create new opportunities for businesses. With a team of experienced professionals, Token X is committed to delivering high-quality, customer-centric solutions that drive innovation and growth in the digital asset space.
SCB TechX
SCB TechX is a joint venture between SCBX Group and Publicis Sapient, established to drive digital transformation and innovation within the financial sector. As a platform-as-a-service provider, SCB TechX specializes in developing scalable, enterprise-grade digital solutions that cater to both financial and non-financial services. SCB TechX plays a crucial role in SCBX's strategy to become a leading financial technology group in Southeast Asia by providing financial technology solutions to group companies and serving as a platform-as-a-service provider in the banking space, including lending and saving, as well as in non-bank platform businesses such as food delivery and activities booking via online platforms.
SCB DataX
SCB DataX is the Center of Excellence for Data and AI within the SCBX group, established to enhance the competitiveness of the group through advanced data solutions and artificial intelligence. The company focuses on pioneering business intelligence and innovation, providing technology and tools that enable SCBX's subsidiaries to make informed decisions and embrace innovation. SCB DataX is dedicated to developing cutting-edge AI and data science capabilities, including the use of Large Language Models (LLMs) to create efficient and accurate financial products and services.