SCB Abacus Rebrands to ABACUS digital; Plans for Expansion

In a move toward fostering financial inclusivity, SCB Abacus proudly introduces its transformation into "ABACUS digital." According to Sutapa Amornvivat, the founding CEO of ABACUS digital, the decision to rebrand aligns with the company's mission to provide equal opportunities and reduce financial disparities for a diverse range of people, especially those lacking access to formal finance or previously denied a bank loan through its own technology.

‍

Revolutionizing Credit Access with ABACUS Core Technology (ACT)

‍

ABACUS digital began with MoneyThunder app, an online credit service powered by its own technology called the Abacus Core Technology (ACT) engine. It enables more accurate and real-time risk prediction, ensuring that loan applicants experience a significantly faster time-to-money. With ACT, the entire process—from registration to loan disbursement—averages 15-20 minutes, making a real difference to the underserved Thai workforce. 

‍

Expansion Beyond Online Credit

‍

ABACUS digital has grown strongly after successfully establishing the MoneyThunder app. With lending volumes as high as 3-4 times per year and maintaining Non-Performing Loan (NPL) to a level 3 times lower than the market, ABACUS digital is now preparing to expand its business beyond online credit. The expansion is guided by the following three main strategies:

‍

1. Max Your Options: By using diverse alternative data for credit risk analysis, ABACUS digital aims to penetrate new customer segments, accompanied by product development efforts for increased flexibility to retain existing customers.
2. Design Your Life: Adopting a holistic 360-degree financial service approach, ABACUS digital seeks to address customer needs comprehensively. Customers continue to look for other financial services that will improve their quality of life. ABACUS digital will collaborate with partners who have expertise in different dimensions to enable the company to offer a diverse range of customer-oriented financial products beyond credit services.‍
3. Empower Your Tech: ABACUS digital developed Abacus Core Technology (ACT) to support a large user base and excel in understanding Thai customers. This technology can help business partners expand their capabilities in customer service, including document analysis with AI, analytics, and customer experience improvement tailored to each business's needs.

‍

#activeintelligence