Siam Commercial Bank and Databricks (photo from SCB website).

Siam Commercial Bank teams up with Databricks for data, AI transformation

It is expected to help SCB personalise and manage AI services for its customers.

Siam Commercial Bank has partnered with Databricks for its data and AI transformation.

The Thai bank will use the Databricks Data Intelligence Platform– built on an open lake house architecture-- to centralize and govern all its data and AI assets, SCB said in an announcement posted on its website.

Amongst SCB’s new capabilities is AI-powered credit scoring for instant loan approvals. SCB will be able to use existing customer data to predict whether customers qualify for the loans. This is expected to double the approval rates of new digital lending products. 

The partnership is expected to help SCB personalise and manage AI banking services for its 17 million customers. 

SBC processes over 1.5 billion transactions monthly from over 17 million customers.

The Databricks Data Intelligence Platform is built on an open lake house architecture and is said to provide SCB a “unified foundation for all data and governance, combined with AI models.”

Databricks is a San Francisco-headquartered data intelligence-focused company offering cloud-based and AI services.

Follow the links for more news on

Join Asian Banking & Finance community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Exclusives

Technology to underpin future of financial services
Banks should boost their online infrastructure as digital assets become the norm.
Funding freeze hits BNPLs
Investors are putting less cash towards BNPL providers, who already grapple with thin margins.
Bank-fintech alliance a win-win, says HSBC
Lenders can learn from disruptive tech whilst aiding its champions comply with regulations.
Tokenization of trade assets to bridge financing gap
Blockchain technology could decentralize finance operations and allow easier credit access.