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Exclusive: Thailand’s SCB digital platform boosts structured note sales The structured notes business has been expanding rapidly at Siam Commercial Bank thanks to its digital wealth management platform. and product function executive vice president at SCB.
Management are executed on the platform, according to Suneta.
"The volume is expected to increase to THB60 billion by end of this year," Suneta told SRP. "Our structured products business has been expanding rapidly after we began to develop a wealth management digitalised platform five years ago."
"The digitalised process is very convenient and saves a lot of time for documentation when it comes to structured products," said Suneta, noting that the platform enables RMs to hold remote meetings with clients.
The digitalised process is very convenient and saves a lot of time for documentation when it comes to structured products - Sornchai Suneta
SCB Wealth, the wealth management business of at Siam Commercial Bank (SCB), has traded structured products in notional of approximately THB40 billion (US$1.1 billion) year-to-date. The wealth manager structured products business has accounted for nearly 30% of the total notional traded year-to-date, and represents an increase from 10% in 2021, according to Sornchai Suneta (pictured), CIO
The oldest Thai bank owns the largest market share in the structured notes market in Thailand's wealth management segment, according to Suneta. At SCB, the platform was designed to enable relationship managers (RMs) to monitor clients’ asset allocation and investment position as well as provide tailor-made advisory across asset classes including structured products. Since March 2022, all structured products issued within SCB Group which includes SCB Financial Markets, SCB Securities and SCB Asset
"The ability to provide end-to-end investment process in one time including advisory and transaction execution is very useful given the social distancing triggered by the Covid-19," he said. At SCB Wealth, approximately 90% of the structured products are issued within SCB Group while the remaining are hedged by global investment banks and linked to US or HK tech stocks. "The products issued by foreign banks must meet our internal criteria made by the investment committee, involving payoff and credit worthiness," said Suneta. TREND The structured notes offered by SCB Wealth cover equity, interest rates and foreign exchange. However, equity-linked
The digitalised process is very convenient and saves a lot of time for documentation when it comes to structured products 16
www.structuredretailproducts.com
