From left to right – Tridbodi Arunanondchai, Lightnet Group’s CEO and Vice Chairman; Srihanath Lamsam, SCB’s EVP, Payment Strategy and Digital Disruptive Technology; Suvicha Sudchai, Lightnet Group’s Chief Product Officer.

Singapore-based fintech firm Lightnet Group has joined forces with Siam Commercial Bank (SCB) to offer remittance services in Thailand.

Under the agreement, The Thai bank will act as Lightnet Group’s settlement partner. It will be responsible for disbursing and clearing payments.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The bank will also facilitate electronic payment processing and enable real-time remittances to Thailand from anywhere in the world.

The remittance services will be accessible to all Thai bank account holders.

It will also be available to those who have signed up for the government-sponsored instant bank-to-bank fund transfers service called PromptPay.

Siam Commercial Bank EVP of payment strategy and digital disruptive technology Srihanath Lamsam said: “Siam Commercial Bank has been a long-time supporter of fintech startups in Thailand, and our fintech investment arm, Digital Ventures, is the largest venture capital fund in Thailand, with a total capital base of $100m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

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

The blockchain startup also partners with SENTBE, a fintech money transfer service provider, in addition to SCB.

Lightnet Group CEO and vice chairman Tridbodi Arunanondchai said: “We are very proud to be working with SCB to facilitate cross-border remittances together with another trusted global fintech solution provider, SENTBE.

“SCB is one of the most reputable banks in Thailand and the technology investment the bank employs allows us to optimize our platform and reach our goals.”

Last month, Rapyd entered the South Korean payment space, where SENTBE is the first company to access its Global Payment Network.