The partnership also aims to deliver better financial transaction processing performance for deposits and loans with enhanced efficiency, stability, security, and scalability to cater to an ever-increasing number of transactions.
Furthermore, the partnership will enable SCB to offer tailored financial solutions to individual customers and corporate clients. The development of the new core banking system is expected to take four years, moving towards SCB leadership as a full-fledged digital banking entity.
SCB embraces digital transformation to modernise banking
Speaking about the partnership, officials from SCB commented that there are changes in the financial landscape and consumer behaviours in the digital age. This is reflected by the exponentially increasing volume of transactions via digital channels, combined with the potential of digital transformation that will help drive business growth and enhance the customer-centric digital banking experience along with SCB's 'Digital Bank with Human Touch' strategy.
The partnership is expected lead to the modernisation of SCB's core banking system to deliver better financial transaction processing performance to cater to an ever-increasing number of transactions 24/7. Not only is this partnership expected to strengthen SCB’s core IT infrastructure, it will also intended to set a new benchmark for the finance industry on both the domestic and global levels.
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