SCB Abacus’ E-Marketplace Digital Lending Platform was designed for Thailand’s small businesses, which comprise majority of the country’s economy. To support the growth of small business owners in a sustainable fashion while managing the bank’s risk, SCB Abacus uses AI-powered algorithms to build a new risk model. Alternative data such as store ratings and shipment patterns automatically pulled from digital e-marketplace partners via an open API enables SCB Abacus to personalize loan products in terms of pricing, tenor, and repayment schedules to match the needs of individual customers.
This platform eliminates human intervention – with automation, the standard loan process is reduced from 3 days to 10 minutes. To offer further convenience to customers, SCB Abacus has integrated the platform into the core banking system, allowing instant disbursement of approved loans into customer accounts.