SCB reaffirms digital banking leadership with successful Digital Wealth services growing over 20%, affirming progress toward becoming a fully AI-first bank

• Garnering three awards in the international arena

Siam Commercial Bank (SCB) continues to fully elevate the digital banking experience to drive the organization toward becoming a fully AI-first bank, reaffirming its success in integrating AI technology to enhance investment experiences through digital channels with three digital wealth services:

AI Advisory Chatbot - a chatbot providing fund information 24/7 on LINE SCB CONNECT, with a monthly user growth of 33 %.

MyAlert service - a personalized investment recommendation and alert service on the SCB EASY app, which processes portfolio data to notify users about the latest investment opportunities. This has resulted in a 20-fold increase in service engagement and a 67% increase in investment product turnover on the SCB EASY app.

WEALTH4U - a service that simplifies investments by recommending personalized funds with 1.3 times higher accuracy. It offers confidence in over 800 funds curated by investment experts, and making asset categorization easy on the SCB EASY app, leading to a 35% increase in service access in 2024.

These services seamlessly cater to the lifestyles of bank customers in this digital era of wealth management, resulting in over 20% growth in SCB digital wealth users in 2024 compared to the previous year, with a continuous growth trend. SCB is confidently driving the organization toward a fully digital bank, with a target of 25% digital revenue by 2025.

SCB First Executive Vice President, Head of Digital Business Function Ms. Pitiporn Phanaphat noted that under the "Digital Bank with a Human Touch" strategy, the bank focuses on leveraging AI technology to drive its business in every dimension. With a commitment to becoming the number one digital bank in wealth management, the bank has seamlessly integrated AI to enhance investment experiences through digital channels, targeting the new generation with the potential to grow wealth. This aligns with the growth trend of transactions on the SCB EASY app, which expanded by 23% year-on-year. Currently, the number of digital investment transactions is seven times higher than other channels compared to the previous year, reflecting customers' increasing preference for investing through the SCB EASY app. As a result, the number of SCB digital wealth users grew by over 20% in 2024, reaffirming the bank's success in developing three hyper-personalized digital wealth services.

These efforts have earned the bank three prestigious awards for excellence in digital financial innovation for wealth management in 2024 from three leading global institutions:

Asian Banking & Finance FINTECH Awards (ABF) 2024: WealthTech Initiative Award for the MyAlert service

Global Retail Banking Innovation Awards 2024: Excellence in Digital Wealth Management for WEALTH4U

Global Retail Banking Innovation Awards 2024: Best Gen-AI Chatbot Initiative for Digital Wealth - AI Advisory Chatbot

In her closing remarks, Ms. Phanaphat said, "SCB continues to develop comprehensive wealth products and services for customers using digital tools. By the end of 2024, the bank's digital revenue proportion is expected to increase to 14% compared to 2023, with a goal to drive total digital revenue to 25% by 2025."