Digital Banking 4.0 Scale360

Rungthep Thurakij

Scale360 to grow team by 100% to push for Fintech growth

Digital banking software market is growing

Scale360 has changed its focus to fintech and will double in size by the end of the year to serve the market, as they believe there are many opportunities in the Thai market as companies invest in new technologies to meet digital demands.

Neville Molyneux, managing director of Scale360, said, ‘We are developing a complete range of fintech solutions to meet the needs of the Thai market, which is growing quickly.”

In Thailand it’s very important for companies to develop fintech and big data solutions, and the government is also clear that it is essential to improve these areas to take advantage of the digital economy.

The company has been active in Thailand for 15 years, firstly as Dotography which focused primarily on developing web solutions for enterprise. Last year the company rebranded and altered its direction to focus on the fintech market, renaming itself as Scale360.

Currently there are offices in Thailand, Singapore and Malaysia, employing 125 people. Scale360 plans to grow to 200 people by the end of 2017. They are targeting highly skilled programmers to develop their software, test their product and understand their platform.

The company’s key focus is developing a software platform that can meet the needs of banks that are transforming their operations to become digital. The company is open to working with partners and expand their business across Southeast Asia. Scale360 has an experienced, professional team that understands requirements from a banking and technology perspective.

Scale360’s digital banking software utilizes the cloud and the latest product is a ‘Digital branch’, a bank branch that allows customers to open accounts, apply for loans, issues cards and deposit and withdraw money.

“Fintech is a growing industry and it’s very important banks embrace digital services. Our Digital Banking 4.0 software offers a full service end-to-end solution – its more than a standalone payments or transfers solution,” said Molyneux.

Most importantly our platform is able to integrate and co-exist with existing banking back-end systems, but we can also provide real-time analysis of all actions that can be used to power the banks operations and marketing campaigns.

The target for this year is to grow the team but there are no revenue targets for this year although the company is working on a project with a Thai bank and the client is open to investing in new technology to improve their service to their clients.

The work is changing its habits to become digital

Molyneux said that digital is forcing companies around the world to change their business model. Fintech was came Thailand with the introduction of mobile banking which has grown quickly. Consumer habits are changing and people look for the convenient and instant service digital can provide.

Digital services should be omnichannel, in real-time and available 24/7 so they can be useful to a wide range of people.

As companies move to become digital research has shown that customers still value a human touch. In a recent study 55% of people believed it is important to be able to speak with a real person at their bank 24/7; 44% don’t trust banks without branches; and 55% go to a branch or call when they want to purchase a product or get advice

In the UK banks have closed over 1,000 branches in the past year as banks review how they engage with customers.

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