Why SCB TechX’s ISO Gateway project will bring big changes to bank transactions

SCB TechX has ushered in change to the process of fund transfers and payments between banks, a move that will cut costs, reduce the risk of errors and boost efficiency and scale. It’s a win-win for not just the group but also for financial markets.

SCB TechX has a bold vision: to spearhead technology innovation across Southeast Asia to meet the needs and goals of businesses and organisations. By leveraging its innovative strategy, SCB TechX wants to make technology accessible and secure, and in turn help fuel growth at businesses and make a foray into new market segments.

Its goal is anything but lofty given its credentials and ownership. SCB TechX was established through a partnership between SCBX, the mothership of the financial technology business group in Thailand, and Publicis Sapient, a leader in digital transformation consulting. SCB TechX combines the deep banking and domain knowledge of SCBX with the digital expertise of Publicis, making for a robust proposition.

That unique blend of capabilities means SCB TechX is at the forefront of delivering a frictionless and omnichannel banking experience to clients at a time when digital channels have increasingly become the main mode of banking.

PIVOTAL OFFERINGS

SCB TechX had an important 2022 as it put its efforts into bringing several pivotal products to its client base. One of that was bolstering its digital know-your-customer services by putting in place new features. This included liveness and facial recognition with an identity card, and making transaction authentication effortless for customers but with added levels of security implemented. SCB TechX also has a platform that uses national digital identity authentication to allow completely digital account opening and lending.

Its data platform is a big hit too as it facilitates the integration, management, storage and administration of diverse data types on one platform.

But the icing on the cake is SCB TechX’s ISO Gateway, a project launched in mid-2022 and which had its full official launch in 2023.

The ISO Gateway is a system meticulously designed and developed to serve as a crucial intermediary connecting banks with the Interbank Transaction Management and Exchange (ITMX). This innovative system can support over 20 million financial transactions daily, offering seamless integration through Microservices Architecture. It incorporates Open-Source technology, enabling comprehensive expense management and efficient maintenance, including a robust monitoring feature that efficiently covers every connection.

In The Digital Banker’s 2023 Global Retail Banking Innovation Awards, SCB TechX won the award for Best Omnichannel Integration in a nod to its ISO Gateway project.

FUTURE OF E-KYC

It additionally got a Highly Acclaimed award for Best e-KYC, thanks to the way it has transformed the traditional know-your-customer process by enabling users to verify their identity from anywhere.

SCB TechX’s e-KYC solution was rolled out publicly in October 2022 and has got solid traction since.

The belief is that the trend of user verification and identification digitally will continue to gain ground, with processes like digital wallets and insurance policies also eventually done through e-KYC. SCB TechX will be ready to offer its services.

For more information on SCB TechX’s products and services, please visit https://www.scbtechx.io/ or email [email protected]

 

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.