Arak to Lead SCBX Transformation into Tech Company

Prachachat•Economy•2d ago

Reader Briefing

Arak Suthiwong is set to assume the CEO role at SCBX on January 1, 2027, inheriting the mission to transform the company into a technology firm and continue its growth trajectory.

•Arak Suthiwong will succeed Arthid Nanthawicitra as CEO of SCBX on January 1, 2027.
•SCBX has been undergoing a transformation into a tech company, a process that is ongoing.
•The company has reorganized into over 10 subsidiaries, most of which are now profitable.
•The shift towards a cashless society, despite initial fee revenue loss, has reduced cash management costs and aligned with consumer behavior changes.

Overview

•On January 1, 2027, Arak Suthiwong will officially take over as CEO of SCBX in order to continue the organization's vision.
•Arak Suthiwong stated that SCBX's transformation is not yet complete but is progressing, resulting in increased appeal to new graduates.
•SCBX initiated organizational restructuring and technological adoption over 10 years ago due to lessons learned from the Tom Yum Kung crisis, to avoid being forced to change by the industry.
•The initial five years of SCBX's transformation focused on restructuring, leading to the creation of over 10 subsidiaries, most of which are now profitable.
•SCBX has been transitioning to a tech company, with the next phase focused on achieving the goal of becoming a 'Tech company'.
•The banking sector's waiver of fees has accelerated the move towards a cashless society, despite an initial loss of billions in fee revenue.
•The waiver of fees by the bank was implemented to reduce cash management costs and adapt to changing consumer behavior.
•Arthid Nanthawicitra has requested Arak Suthiwong to perform CEO duties as if real for the last six months to ensure a smooth transition.

Full article content is available on the original source.

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Source: Prachachat (Original)

Key Quotes

Arak Suthiwong

"“We tried to adapt and change ourselves before we were forced to change our identity.”"

“เราพยายามปรับตัวเปลี่ยนแปลงตัวเอง ตอนที่จะถูกบังคับให้ตัวตนของเราเปลี่ยน”

Arak Suthiwong

"“If you ask whether SCBX’s transformation has been successful yet, I must say it is not yet successful.”"

“หากถามว่าการทรานส์ฟอร์มของ SCBX ประสบความสำเร็จแล้วหรือยัง ก็ต้องบอกว่าปัจจุบันยังไม่สำเร็จ”

Arak Suthiwong

"“The next chapter is for SCBX to strive towards becoming a Tech company in the next phase.”"

“บทต่อไป คือการที่ SCBX จะพยายามไปให้ถึงการเป็น Tech company ในระยะต่อไป”

Arak Suthiwong

"“We acted without waiting for the industry to change us; we acted based on our belief from data.”"

“เราทำโดยไม่รอให้อุตสาหกรรมมาเปลี่ยนเรา ตอนนั้นเราทำด้วยความเชื่อจากข้อมูล”

Arak Suthiwong

"“On January 1, 2027, I was assigned to take over from Mr. Arthid Nanthawicitra as CEO of SCBX.”"

“วันที่ 1 ม.ค. 2027 ผมได้รับมอบหมายให้รับไม้ต่อจากนายอาทิตย์ นันทวิทยา ในตำแหน่งประธานเจ้าหน้าที่บริหาร SCBX”

Key Entities

Person

Arak Suthiwong(อารักษ์ สุธีวงศ์)

The incoming CEO of SCBX, tasked with leading the company's transformation into a tech company.

Arthid Nanthawicitra(นายอาทิตย์ นันทวิทยา)

The outgoing CEO of SCBX, who has guided the company through its initial transformation phases and is preparing for a smooth handover.

Organization

SCBX

A financial group undergoing transformation into a technology company.

Siam Commercial Bank(ไทยพาณิชย์)ℹ️

The parent financial institution that has undergone restructuring and technology adoption, serving as the foundation for SCBX's transformation.