AIS joins forces with SCB to announce formation of “AISCB” Thailand first for Banking and Telco sectors combine in Joint Venture
AIS and Siam Commercial Bank have reached an agreement on signing a joint venture deal to embark upon establishing AISCB to offer digital financial services such as loans, before expanding to other financial services. This first collaboration of its kind marks an important step in creating a new growth engine for both firms.
The new joint venture will bring together the strong synergy of the two partners, combining the strength of AIS’s digital technology, nationwide network coverage, cutting-edge innovation, and customer service potential with SCB’s reliable branding value proposition, successful track record, and expertise in financial services. With the increasing adoption of digital technology in many industries, the new company will focus on creating innovative financial services through digital channels to offer optimal benefits to customers, while bridging the technological gap to enable access to financial services for even more Thais amid the rapid changes taking place during this era of rapid change.
This partnership between AIS and SCB is the first of its kind in Thailand, bringing together leading companies in two critical industries, a telco and a financial institution. They will create financial products meeting wide-ranging demand with digital technology as the key driver. Both companies are confident that the collaboration will play a crucial role in powering the company’s digital economy amidst the current challenges.
Advanced Info Service Public Company Limited (AIS) is the number one Digital Life Service Provider with the most spectra to provide service, totalling 1420MHz. The company has the most subscribers in Thailand, counting over 43.2 million subscribers as of June 2021. It is ready to power Thailand with 5G technology which currently covers 77 provinces through 3 core businesses: mobile phones, high-speed home broadband through AIS Fibre, and Digital Services in 5 aspects of video, the Cloud, digital payments, the Internet of Things (IoT) and services provided jointly with partners. The company is also expanding into new areas of business such as AIS eSports and AIS Insurance Service. All of this supports a robust digital infrastructure for the country, boosts the industrial sector’s competitive potential and upgrades quality of life for all Thais.
About Siam Commercial Bank
Siam Commercial Bank PCL was established by Royal Charter in 1906 as the first Thai bank. As of June 30, 2021, the Bank had Baht 3.202 trillion in total assets and Baht 333 billion in market capitalization on a consolidated basis. The bank is one of Thailand’s leading universal banks, providing a full range of financial services through its nationwide branch network to clients in all segments, including wholesalers, SMEs, and retail banking services. SCB is committed to becoming Thailand’s “Most Admired Bank” by balancing value propositions for all stakeholders - customers, employees, shareholders, regulators, and society - and becoming a leader in shaping the future of Thailand’s banking industry. For more information, please visit https://www.scb.co.th