SCBX, Kakao Bank set up Bank X for Thai virtual bank venture

SCBX, the Thai financial group partnered with Korea's Kakao Bank in a virtual banking venture, has set up a new subsidiary that will later serve as the corporate entity for the digital lender. Thai media outlet The Nation reported Monday that SCBX had filed with the Stock Exchange of Thailand to establish Bank X Public Company Limited as a new subsidiary under the group. SCBX, the holding company of Siam Commercial Bank, is working with Kakao Bank and China's WeBank Technology Services to launch

By The Korea Herald