Thailand’s CLICX selects Thought Machine for core banking
The virtual bank aims to reach freelancers, daily wage earners and small businesses with loans informed by customer-consented data.
Thai virtual bank CLICX has chosen Thought Machine’s Vault Core for its core banking system, using the cloud-native platform to build and manage financial products. The bank was established through a partnership involving Krungthai Bank, Advanced Info Service (AIS) and PTT Oil and Retail Business (OR).
CLICX is targeting freelancers, people earning daily wages and owners of small businesses who may face difficulties obtaining conventional credit. It uses Vault Core to assess credit risk by analysing data that customers consent to share from mobile, retail and payment networks.
That assessment supports nano-loans and digital personal loans, with pricing linked to risk and repayment terms tailored to borrowers. The platform also enables banking services to be integrated into the mobile, retail and payment channels operated by CLICX’s shareholders.
CLICX chief technology officer Wannasit Chaiphinan said the platform lets the bank’s own team configure, test and adjust products while relying less on changes made by the vendor. He said its architecture keeps product logic separate from the core infrastructure.
