Published On: Fri, Nov 27th, 2020

Lightnet Group strikes partnership with Thailand’s Siam Commercial Bank

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, a Singapore-based fintech company, has forged a partnership with Siam Commercial Bank (SCB) to make remittance services accessible to all Thai bank accounts and also to anyone who has signed up for PromptPay.

A Thai government sponsored service, PromptPay facilitates instant bank-to-bank fund transfers.

Suvicha Sudchai – Chief Product Officer of Lightnet Group said: “SCB will be Lightnet Group’s settlement partner responsible for disbursing and clearing payments, facilitating the electronic payment processing and enabling frictionless real-time remittances to from anywhere in the world with lower fees.”

Lightnet Group strikes partnership with Thailand’s Siam Commercial Bank

Lightnet Group strikes partnership with Thailand’s Siam Commercial Bank – From left to right – Tridbodi Arunanondchai, Lightnet Group’s CEO and Vice Chairman; , SCB’s EVP, Payment Strategy and Digital Disruptive Technology; Suvicha Sudchai, Lightnet Group’s Chief Product Officer.

According to the Singaporean fintech company, the partnership gives Siam Commercial Bank additional international money transfer options through the former’s channels.

Srihanath Lamsam – Siam Commercial Bank Payment Strategy and Digital Disruptive Technology EVP said: “Siam Commercial Bank has been a longtime supporter of fintech startups in Thailand, and our fintech investment arm, Digital Ventures Co. Ltd., is the largest venture capital fund in Thailand, with a total capital base of USD100 million.

“Fintech plays an essential role in SCB’s , and we look forward to working with the Lightnet Group to revolutionize the global remittances industry.”

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