Clicx, a joint venture formed by Krungthai Bank, Advanced Info Service, and PTT Oil and Retail Business, has become the first virtual bank applicant to receive a commercial banking license in Thailand. The central bank notified the company that the finance minister approved the license, including oversight for payment services businesses.
Enhancing Financial Access Through Digital Innovation
Clicx aims to broaden financial opportunities by delivering accessible, inclusive, secure, and customer-centric services. “This license reflects our readiness to operate as a fully digital banking business, backed by strong technology, cybersecurity, service standards, and insights into users’ financial behaviors,” the company stated.
The platform integrates financial services into daily life, leveraging artificial intelligence for improved customer experiences. It employs behavioral analytics and alternative data—such as lifestyle patterns, communication, mobility, and everyday services—to create a holistic view of users.
Key Services and Target Groups
Core offerings include savings accounts, money management tools, and personalized credit solutions, with a focus on transparency, security, and repayment capacity. Clicx targets underserved Thais, including daily wage workers, freelancers, taxi drivers, first-time employees, students, online sellers, and small business owners, many of whom lack traditional income documentation or financial history.
Virtual Banking Landscape in Thailand
In June 2025, the central bank selected three consortia for virtual bank licenses: the AIS-KTB-OR group, ACM Holding supported by CP Group, and SCB X involving KakaoBank and WeBank from South Korea. ACM Holding established Ascend Bank, while SCB X created Bank X.
Initial operations were slated for June 2026, but regulators extended the timeline by up to 12 months. Central bank governor Vitai Ratanakorn recently indicated expectations for at least two virtual banks to launch by the end of 2026. Applicants failing to meet requirements within one year may receive further extensions at the regulator’s discretion.
CP All’s Proposed Restructuring
In a related development, CP All, a CP Group subsidiary operating 7-Eleven and other retail outlets, plans an extraordinary shareholders’ meeting on May 29 to vote on transferring three subsidiaries to Ascend Bank. The proposal faces opposition from independent directors.
Approval could lead to cash sales or equity swaps, potentially affecting the company’s financial performance immediately, according to analysts.
