Siam Commercial Bank is dedicated to partnering with entrepreneurs to drive market development across Thailand. The Bank offers a range of financial products and solutions aimed at facilitating sustainable business growth. The impact of the COVID-19 pandemic on various markets in Thailand has been significant, with many closures during lockdowns and social distancing measures. Additionally, the Thai tourism industry, which wields considerable influence across sectors, has been severely affected by the country’s shutdown.
As a result, the recovery of market operators following the COVID-19 crisis hinges on numerous factors. To address these challenges, the Bank has conducted extensive surveys and engaged in close discussions with merchants operating in diverse markets throughout the country. It is now leveraging digital technology to enhance and expand the “SCB Smart Flea Market” initiative.
This campaign aims to empower market operators across Thailand by offering SCB Total Business Solutions for both market owners and tenants. Service offerings include versatile payment solutions for both receiving and disbursing funds, the innovative Mae Manee application for shop assistants, a professional online store management system known as Manee Social Commerce, and a host of other resources. These solutions are designed to enable entrepreneurs to access financial services with ease. SCB initiated a pilot program at Save One Market, the largest open night market in the Northeast, boasting over 2,500 shops. This served as our initial step before rolling out the program to other major markets across the nation.
SCB envisions that the “SCB Smart Flea Market” campaign will empower entrepreneurs to harness digital technology effectively, thus elevating the standards of market businesses across Thailand. This initiative aims to create a dynamic digital ecosystem that fosters mutual support, contributing to the sustainable growth of its customers’ businesses.