Creating a new standard for AI-driven digital banking with Databricks' Data Intelligence Platform
With over 17 million customers making 1.5 billion transactions monthly, SCB processes petabytes of data to make customer-centric, data-driven decisions.
SCB chose to centralize and govern all its data and AI assets on the Databricks Data Intelligence Platform on Microsoft Azure to help personalize and manage AI banking services for millions of its customers, setting a new standard for AI-driven digital banking. The Data Intelligence Platform is the foundation of SCB's unified enterprise data platform, which will support its strategic digital transformation, including its core banking system upgrade and AI banking services.
Built on an open lakehouse architecture, the Databricks Data Intelligence Platform provides a unified foundation for all data and governance, combined with AI models tuned to an organisation's unique characteristics.
Using data and AI to create seamless and personalized digital banking experiences for millions of customers
With Databricks, SCB has already unlocked new opportunities such as:
- AI-powered customer 360: With the Data Intelligence Platform, SCB can holistically understand its customers' needs, enabling seamless and personalized customer experience across all of the bank's channels, whether on its website, mobile app, or in-person at the bank.
- AI-powered credit scoring for instant loan approvals: Loan approvals used to take weeks due to paper forms and manual evaluation. Now, it is a one-click instant process for customers as SCB is able to use existing data to predict whether customers qualify for the loans using predictive analysis. With this frictionless banking experience, SCB saw a two-fold increase in approval rates for new digital lending products.
"We are looking forward to working with Databricks to build our unified enterprise data platform to accelerate SCB's customer-centric priorities. In line with our "Digital Bank with Human Touch" strategy, which aims to ensure the success of our bank-wide digital transformation and drive growth while enhancing customer experiences, we recognize that enabling our staff with the necessary skills is essential. We are excited to partner with Databricks to deliver large-scale data and AI training for our employees," said Orapong Thien-Ngern, President and Chief Technology Officer, SCB.
"We are pleased that SCB has selected the Databricks Data Intelligence Platform for its strategic digital transformation. Together, Databricks and SCB will deliver more value to all of SCB's customers with real-time insights to meet their banking needs," said Cecily Ng, Vice President and General Manager of ASEAN and Greater China, Databricks.
Upskilling over 1,800 SCB employees in data and AI
As part of the bank's strategic digital transformation, Databricks will launch a Data and AI Academy with SCB's IT Academy to train over 1,800 SCB employees in data, analytics, and AI, enabling them to become more proficient with data and AI technologies to improve productivity and achieve better results.
The large-scale training program will start later this month, and upon completion, participants will be able to obtain Databricks accreditations and certifications, accelerating data and AI competency across the bank and enhancing the capabilities of their staff.
Source: Siam Commercial Bank