Photo Release: SCB joins with SCG to develop LG platform via Blockchain

Stocks and Financial Services Press Releases Wednesday March 7, 2018 14:24
Bangkok--7 Mar--Siam Commercial Bank

To consolidate its corporate image as an innovative organization, Siam Commercial Bank has teamed up with SCG Cement-Building Materials Co., Ltd. to develop a letter of guarantee (LG) platform via Blockchain Technology to enable SCG supply chains to seek real time LG approval from SCB around the clock. Through this platform they will enjoy enhanced convenience, reduced documentation, and lower operating costs, boosting competitiveness, adaptability to a changing business world amid a digital age, and confidence in maximum security. This LG Blockchain development is currently undergoing testing in the regulatory sandbox of the Bank of Thailand. Mrs. Pimolpa Suntichok, SCB Head of Commercial Banking Solutions, and Mr. Nithi Patarachoke, Vice President of Building Products & Distribution Business, SCG Cement-Building Materials Co., Ltd., are seen participating in the recently-held cooperation announcement event.


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