CLICX, the virtual bank formed by Krungthai Bank, AIS, and OR, has selected Thought Machine’s Vault Core as its core banking platform.
CLICX is one of Thailand’s new virtual banks and has reached operational readiness in line with the Bank of Thailand’s regulatory timetable. The bank was formed through a partnership between Krungthai Bank, mobile operator Advanced Info Service (AIS), and PTT Oil and Retail Business (OR). It aims to serve freelancers, daily earners, and small entrepreneurs who may be underserved by traditional approaches to credit.
Real-time data for credit decisions
Using Vault Core’s real-time engine, CLICX draws on customer-consented data from its parent companies’ mobile, retail, and payment networks to refine its credit risk models. This allows the bank to offer nano-loans and digital personal loans with risk-based pricing, personalised interest rates, and tailored terms. CLICX also plans to embed its financial services into the mobile, retail, and payment channels of the three partners, bringing banking into customers’ everyday activities.
Suporn Sunthornrohit, CEO of CLICX, stated that many people in Thailand earn a living through freelance work, daily wages, or small businesses, but their financial lives are not always reflected in conventional banking assessments. According to Suporn, CLICX aims to understand how people live and work, offering services from everyday money management to responsible borrowing and savings, while combining the strengths of Krungthai Bank, AIS, and OR.
Product control in-house
Vault Core separates product logic from the underlying core infrastructure, allowing CLICX to build, launch, and reconfigure products and adjust interest rate models in-house, without depending on a vendor’s release cycles. Wannasit Chaiphinan, CTO of CLICX, stated that this gives the bank practical control over features such as interest calculations, repayment structures, and account rules, as well as a foundation for connecting its services to partners’ digital channels.
Paul Taylor, Founder and CEO of Thought Machine, stated that serving self-employed workers and customers with non-traditional credit profiles requires a core system that can process real-time data across ecosystems, and that speed after launch is the real test of a core platform. Thought Machine says its annual recurring revenue has passed USD 100 million, with 57% year-on-year growth, and its Southeast Asian clients include banks in Singapore, Malaysia, Vietnam, and the Philippines. CLICX follows CIBC’s selection of Vault Core for its retail banking.
