SCB maneuvers Agile Organization to lay foundation for becoming #The Future Bank

Stocks and Financial Services Press Releases Thursday February 7, 2019 16:31
Bangkok--7 Feb--Siam Commercial Bank

SCB debuts co-presidents to create first Agile Team in major overhaul to speed up Transformation Project completion by 2020 under four major pillars: customer centric focus, speed, innovation, and risk culture. The revamp aims to create a customer-centric organization that embraces innovations through adaptation, learning, and trial and error, while adhering to appropriate risk culture in the face of future changes.

In the Bank's latest strategic move, Siam Commercial Bank Chief Executive Officer Mr. Arthid Nanthawithaya revealed that the process of creating corporate value under the SCB Transformation strategy of bringing new digital experiences to customers is progressing well. Now in its third year, SCB is "fixing, modifying, and building" its infrastructure to strengthen it. An investment budget of 40 billion baht aims to strengthen the Bank's technology capabilities and bring out the potential of its infrastructure to the fullest extent possible. However, this investment might not yield tangible results if the Bank does not adapt its corporate culture to keep pace with future. It is therefore critical that the Bank be quick to respond to changes. Amid such circumstances, in 2019 SCB is adopting a new Agile Organization corporate culture to maximize its capabilities to simultaneously handle customer requirements based on four pillars comprising a Customer-Centric focus, Speed, Innovation, and a Risk Culture.

SCB's four new presidents are Mr. Sarut Ruttanaporn, Mrs. Apiphan Charoenanusorn, Mr. Orapong Thien-Ngern, and Dr. Arak Sutivong. These four presidents will work together as an Agile Team to pioneer and drive a new working concept through an Agile Organization to deliver the best services. The appointment of the four presidents is part of the second phase of the SCB Transformation to drive the Bank's "Going Upside Down" strategy, with the ultimate goal of becoming 'The Most Admired Bank'.

Mr. Sarut Ruttanaporn, President, Siam Commercial Bank, said that, "Based on the Bank's "Going Upside Down Strategy, I am willing to generate New Normal of Growth in two areas, comprising 1) Digital Lending, which will ensure that SCB will create the best digital lending experience for all customer segments, whether retail, SMEs, or SSMEs; and 2) Wealth Management. SCB possesses strong capabilities in terms of off-shore investment for ultra-high net-worth clients through its joint-venture with Julius Baer. SCB will develop its wealth management capabilities with the right product suites to meet individual requirements and create optimal benefits for our customers. Bearing those goals in mind, we must integrate the use of AI/data with new technological capabilities to make SCB 'The Most Admired Bank' in Thailand and the region."

Dr. Arak Sutivong, President, Siam Commercial Bank, said that, "In developing new capabilities to accommodate unconventional growth, it is important to connect what we have achieved over the past three years. I have established a plan to continue the work and to focus on three major areas: 1. Platform Banking, by adjusting service delivery on a platform that will become a customer's life or business; 2. Partnership Banking, by working closely with partners in different businesses to deliver the best solutions for customers while growing together; and 3. Predictive Banking, by adopting data to learn and understand customer requirements and deliver them when needed."

Mrs. Apiphan Charoenanusorn, President, Siam Commercial Bank, noted that, "The most integral element to driving the transformation to full completion lies in the creation of a new corporate culture that prioritizes being customer-centric, while empowering decision making and creating a new risk culture to speed up the process. I will be responsible for accelerating internal operational processes and working methods, while instilling new thinking that will lead the Bank to quickly become a firm offering a 'New Normal' in Customer Excellence."

Mr. Orapong Thien-Ngern, President, Siam Commercial Bank, said that "In the near future, bank competitors will not follow traditional banking models. New competitors will use advanced technology to be flexible and quickly respond to customer requirements using advanced technology. I intend to focus on long-term strategies in technology areas to ensure that SCB will be fully equipped with new capabilities on par with our competitors. It is critical that SCB adjust ourselves in the same direction with major capabilities, such as: 1. Knowing customers thoroughly using data for optimal advantages; 2. Being super innovative to quickly build up growth using innovations; 3. Agility by using technology to maximize efficiency at lower cost; and 4. Risk management capability using databases to create a prototype for a future bank that can survive amid new global competitors."

Mr Arthid also added that, "We are fully committed to changing traditional working environments and driving the Bank to new growth through our transformation process, which will be fully completed in 2020 in preparation for the stream of changes coming to the banking industry. Our goal is to transform SCB into a 'Future Bank' that can compete sustainably."

Latest Press Release

PTG reveals business plan in Golden Pig Year Targeting revenue and volume growth by 20% Gearing up for expansion to 2,000 service stations and joining up with business partners to create new customer experiences

"PTG Energy" targets 2019 revenue and volume growth of 20%, aiming to increase EBITDA by 40%-50% and expand service stations to 2,000 with planned investment of 3.5 billion baht in order to maintain the second position in retailed oil market share. Mr....

Photo Release: EXIM Thailand Celebrates 25th Anniversary Inviting Public and Private Sectors to Donate to Chakri Naruebodindra Medical Institute

Mr. Adul Chotinisakorn (third right), Director of Export-Import Bank of Thailand (EXIM Thailand), together with the Bank's senior management welcomed executives from private and public agencies on the occasion of EXIM Thailand's 25th anniversary at EXIM...

Prudential Thailand launches PRUsuper a unique and flexible solution targeting customers who dont like insurance

Prudential Life Assurance (Thailand) Public Company Limited ("Prudential Thailand") has launched PRUsuper link, a unique and flexible investment-linked insurance product that was developed based on the true voice of customers through an online customer...

Bangkok Bank approved that the dividend payment be paid at the rate of Baht 6.50 per ordinary share

Bangkok Bank approved that the dividend payment for the operating results of the year 2018 be paid at the rate of Baht 6.50 per ordinary share and resolved to convene the 26th annual ordinary meeting of shareholders on April 12, 2019. Bangkok Bank...

PTT Reveals 2018 Performance, Creating Energy Security, Tackling Changes for Sustainable Future,

Strengthening infrastructure, developing new businesses, raising competitive edge, along with improving people's quality of life and conserving environment, PTT grants 82.220 billion Baht of its revenues to the government as its tax payment. Mr. Chansin...

Related Topics