SCB Abacus wins award for AI-powered digital lending platform
SCB Abacus, a dedicated advanced analytics subsidiary of Siam Commercial Bank, has received the Global Retail Banking Innovation Awards 2018 in the “Best Data Analytics Initiative” category for the development of a AI-powered digital lending platform for online SMEs.
The technology enables personalisation of loan products in pricing, tenor, and repayment schedules to match the needs of individual customers.
The platform helps reduce the standard loan process from three to seven days to just 15 minutes and is integrated into the core banking system, allowing instant disbursement of approved loans into customer accounts.
The award is presented by The Digital Banker, a globally trusted news, business intelligence and content distribution provider for the financial services sector.
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