Bangkok based Siam Commercial Bank (SCB) plans
to launch a customer-centric strategy that will focus on customers’
needs over the bank’s requirements, to boost its retail business
over the next three years.

Instead of offering and leading customers to
new products, SCB plans to focus on the specific needs of each
consumer and design products and services particular to the
customer’s requirements. SCB also aims for the customer-centric
platform to strengthen its cross-selling of services.

The changing needs and lifestyles of customers
led SCB to rethink its business strategy and allow a focus on
customer service. Customers who have been financed by SCB for
housing projects, for instance, will be given special interest
rates that will vary according to their credit risk – the lower the
risk, the lower the rate.

The new business platform will take at least
two years to phase in before seeing full implementation in the
third year.

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