CLICX has selected Thought Machine as the core banking provider for its new virtual bank in Thailand. CLICX is the first Thai virtual bank to reach operational readiness under the Bank of Thailand's timeline. The bank was formed through a partnership of Krungthai Bank, AIS, and PTT Oil and Retail Business.
Platform details
The bank will run on Vault Core, a cloud-native core banking engine. It ingests customer-consented data from mobile, retail, and payment networks. CLICX can use that data to offer nano-loans and digital personal loans with risk-based pricing.
Customer focus
CLICX targets freelancers, daily earners, and small entrepreneurs in Thailand. These groups can be underserved by traditional credit assessments. The bank wants to embed financial services into everyday mobile and retail touchpoints.
Thought Machine's position
Thought Machine reports more than US$100 million in annual recurring revenue and positive free cash flow. It serves over 20 global tier 1 banks. The company has existing digital bank deployments in Singapore, Malaysia, Vietnam, and the Philippines.
CLICX can build, launch, and reconfigure products without waiting on vendor-led changes. Its team can adjust interest calculations and repayment structures in-house. As CLICX grows, its team can use that flexibility to respond to customer feedback and roll out new offerings.