Thai virtual bank Clicx picks Thought Machine for core banking

Part of Thailand's virtual bank push

Thailand's virtual bank framework had envisaged up to three licenses. Virtual banks operate digitally rather than through physical branches, and the framework was designed to widen access to financial services and add competition to the market.

For Clicx, picking its core technology is a foundational decision. A banking system underpins accounts, payments and lending, and it determines how quickly a new bank can launch products and adapt them over time.

Why it matters

For Thai consumers and small businesses, the arrival of virtual banks could mean more choice in everyday banking. For the industry, technology selections like this one show how new entrants are preparing to compete with established lenders.

Thought Machine is a provider of cloud-based core banking technology, and the Clicx agreement adds a Thai virtual bank to its client roster. Further information on the launch timeline and services is expected to come from the companies themselves.