Siam Commercial Bank has appointed the former Chief Executive of Microsoft Thailand, into the role of Digital Ventures Head.
Orapong Thien-Ngern, will take up his new role from 1 May and will replace Thana Thienachariya, who has been promoted to Chief Marketing Officer (CMO) for Siam Commercial Bank (SCB).
Digital Ventures is the bank's venture arm incorporated to invest in financial technology firms.
The venture firm has already invested half of its initial funding of $50 million in both fintech mutual funds and joint venture firms.
«The CMO position is a new role set up to facilitate the greater role of marketing in the banking business,» said SCB Chief Executive and president Arthid Nanthawithaya.
Big Data Analytics
The bank plans to roll out a pilot project applying big data analytics in new operational practices during the second quarter, while the full scheme is expected to be unveiled in the final quarter of this year, the Bangkok Post reported.
Apart from big data analytics, the country's third largest lender by assets will thoroughly recalibrate its existing 14 million customers in a bid to offer financial products and services to meet demand.
Wealth Management Push
The bank also plans to launch new features for its mobile banking platform during the second quarter. The new features will complement several lifestyle categories including shopping, dining, beauty, healthcare and medical care.
SCB also aims to raise its penetration in other areas, particularly wealth management, a segment where the bank lags its peers.
More and more global banks have begun tapping into the somewhat underserved Thai wealth market.
