Ripple helps Siam Commercial Bank drive innovation with instant cross-border remittances.
SCB is Thailand’s longest established bank and one of the largest banks in terms of market capital assets, offering four models for inbound services with >$300M.
To create innovative customer experiences and be a digital banking leader in Thailand and Southeast Asia.
Ripple's cross-border payments solution helps SCB integrate with partners around the world, allowing the bank to provide customers with instant, low cost cross-border payments using its SCB Easy app. The bank is expanding this service to business customers.
Our customers can send money to family and friends abroad in real-time from their phones. Being part of RippleNet has helped us to completely enhance our customer experience, expand our business and keep SCB moving into the future.
Faster, Cheaper Payments that Run on Ripple
Siam Commercial Bank (SCB) has led a digital banking transformation in Thailand that has resulted in the country ranking first for global mobile banking users. SCB is the largest bank in Thailand in terms of market capital and offers real time, 24/7, service clearing directly to bank accounts. The bank is now partnering with Ripple for its latest innovation: providing real-time cross-border remittances. After joining RippleNet, SCB has plugged into a global network of more than 300 connected banking partners around the world. In 2020 alone, SCB completed over half a million transactions on RippleNet, a 335% volume growth, year over year. The bank launched the SCB Easy app, which runs on Ripple and allows customers to make instant, low cost payments to family and friends outside Thailand.