The move will ready the Group for entry into the emerging competitive arena and propel the firm as a regional financial technology conglomerate by 2025, with the goal of building a 200 million strong customer-base with a mission of connecting to the ecosystem both at home and abroad. SCBX will remain under the supervision of the Bank of Thailand.

In Silicon Valley, entrepreneurs and venture capitalists are making big bets that the future of banking is digital, doesn't have fees, offers a high savings rate-and might not technically be a bank at all.