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.

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