Thailand’s CLICX selects Thought Machine for core banking tech

By Divya Shah

Why it matters: The partnership highlighted how cloud-based core banking technology enabled virtual banks to launch faster, personalise lending and integrate financial services.

CLICX, a new digital banking venture formed through a partnership between Krungthai Bank (KTB), Advanced Info Service (AIS) and PTT Oil and Retail Business (OR), has selected banking technology provider Thought Machine to power its new digital bank in Thailand. 

CLICX adopted Thought Machine’s cloud-based core banking platform, Vault Core, to support its launch and develop banking products as customer needs and market conditions changed. 

Through Vault Core, CLICX gained the flexibility to develop and manage its own banking products, pricing structures and services without depending on traditional technology systems or lengthy software release processes. 

Paul Taylor, Founder and CEO of Thought Machine, said the platform gave CLICX the flexibility to customise products, adjust pricing and expand its services across Thailand without being limited by its core banking technology. 

The platform also supported real-time data processing, allowing CLICX to use customer-approved information from mobile, retail and payment networks to improve credit risk assessments.  

This capability was expected to help the bank expand access to nano-loans and digital personal loans through personalised interest rates, risk-based pricing and flexible repayment terms. 

Suporn Sunthornrohit, CEO of CLICX, said the partnership brought together the strengths of Krungthai Bank, AIS and OR to connect banking services more closely with everyday life. He added that Thought Machine’s technology provided a foundation for continuously improving products based on changing customer needs. 

Vault Core also allowed CLICX to manage product features such as interest calculations, repayment structures and account rules. Its technology architecture enabled the bank to connect financial services with the digital channels of its parent companies, bringing banking services closer to customers’ everyday activities. 

Wannasit Chaiphinan, CTO of CLICX, highlighted the platform’s flexibility in managing banking features and connecting services with partner digital channels. He said this would help the bank respond to customer feedback and introduce new offerings as its business expanded. 

The deployment marked another development in Thought Machine’s expansion across the financial technology sector, following its recent financial performance and growing regional presence.