SIAM Commercial Bank (SCB) is speeding up its transformation project with four co-presidents taking charge of separate areas of the process.
The executives make up what the bank calls its Agile Team and will each handle a customer centric focus, speed, innovation, and risk culture.
The new presidents are Sarut Ruttanaporn, Apiphan Charoenanusorn, Orapong Thien-Ngern, and Arak Sutivong. Their appointments mean the transformation project will be sped up for completion by 2020.
The revamp is aimed at creating a customer-centric organisation that embraces innovation through adaptation, learning, and trial and error, while adhering to appropriate risk culture in the face of changes, the bank’s chief executive officer Arthid Nanthawithaya said at press conference yesterday.
Arthid said the process of creating corporate value under the transformation strategy of bringing new digital experiences to customers was progressing well. With programme in its third year, SCB is “fixing, modifying, and building” its infrastructure to strengthen it. An investment budget of Bt40 billion aims to strengthen the bank's technology capabilities and bring out the potential of its infrastructure to the fullest extent possible, Arthid said.
“However, this investment might not yield tangible results if the bank does not adapt its corporate culture to keep pace with future. It is therefore critical that the bank be quick to respond to changes,” Arthid said.
To further these goals, SCB is adopting a new Agile Organisation corporate culture “to maximise its capabilities to simultaneously handle customer requirements based on four pillars comprising a customer-centric focus, speed, innovation, and a risk culture”, Arthid said.
The four presidents will work together as an agile team to pioneer and drive a new working concept through an Agile Organisation to deliver the best services, Arthid said.
The appointment of the presidents is part of the second phase of the SCB transformation to drive the bank’s "Going Upside Down" strategy, with the ultimate goal of becoming “The Most Admired Bank”.
“Based on the Bank's "Going Upside Down Strategy, I am willing to generate New Normal of Growth in two areas, comprising 1) Digital Lending, which will ensure that SCB will create the best digital lending experience for all customer segments, whether retail, SMEs, or SSMEs; and 2) Wealth Management,” Sarut said.
Arak added that in developing new capabilities to accommodate unconventional growth, it is important to connect what we have achieved over the past three years. I have established a plan to continue the work and to focus on three major areas: 1. Platform Banking, by adjusting service delivery on a platform that will become a customer's life or business; 2. Partnership Banking, by working closely with partners in different businesses to deliver the best solutions for customers while growing together; and 3. Predictive Banking, by adopting data to learn and understand customer requirements and deliver them when needed."
Apiphan said that she will be responsible for accelerating internal operational processes and working methods, while instilling new thinking that will lead the Bank to quickly become a firm offering a 'New Normal' in Customer Excellence.
Orapong said that he intends to focus on long-term strategies in technology areas to ensure that SCB will be fully equipped with new capabilities on par with our competitors.