Bangkok--7 Sep--Siam Commercial Bank
In response to the new trend toward a digital society, SCB Securities Co., Ltd. (SCBS) is launching an innovative "Easy Stock" service to expand online trading. The service is the first in Thailand to enable investors to easily open stock trading accounts online without requiring documents such as identification cards or even a signature. Applicants can be approved within 15 minutes and can start trading immediately with only an SCB Easy Net account. SCBS aims to increase new stock trading by 50,000 accounts within three years from a total target of 100,000 accounts. With the continued interest in online trading, internet trading accounts have increased by 35%, while 76% of local investors have opened online accounts for internet trading.
M.L. Thongmakut Thongyai, CEO, SCB Securities, said that the company is determined to expand its retail customer base keen on online trading as stock trading via online channels is increasing rapidly. As of the end of 2Q15, internet stock traders account for 76% of a total of 1,190,016 investors, or 903,511 investors, an increase of 35% from same period last year. SCBS is also seeking to increase its access to potential target groups through its strong parent company, Siam Commercial Bank. With the new version of "Easy Stock" stock trading account opening will be 100% paperless. Customers will only need an SCB Easy Net account with Siam Commercial Bank in order to open a stock trading account from the "Easy Stock" menu. After customers have accepted the terms and conditions to use information and documents already provided to the Bank to seek approval for opening a stock trading account with SCB, the system will transmit the customer information to an online document checking process, which shortens the time needed for document approval from several days to only 15 minutes. Customers will be advised of the result via SMS and email, enabling them to start trading immediately.
"Easy Stock is the most innovative account opening method for stock trading amid Thailand's transition to a digital society. We have upgraded the system to make optimal use of information and documents already provided to the Bank by customers to avoid a redundant process. Customers can verify their identification and sign the agreement with a digital signature instead of signing actual documents, making it even more convenient for customers. This will be an excellent opportunity to capture new investors among our current 700,000 SCB Easy Net customers. SCBS aims to increase new customers via the Easy Stock channel by another 50,000 accounts within three years."
M.L. Thongmakul added that SCBS targets increasing new investors by 100,000 accounts via two channels by 2018, with 50,000 accounts from Easy Stock and another 50,000 accounts from the fast track "Thun-Jai" account opening service launched earlier, which has received a good response from customers. Easy Stock has been designed as a self-service process, with customers simply logging in to www.scbeasy.com and choosing the "Easy Stock" menu to open an online account. This hassle-free process does not require any forms, document files to upload, or signature, and there is no need to send actual documents. Customers can be confident of security, which is the same as that used for online banking transactions using a 2-tier security standard with OTP (one-time password) before opening an account.
Interested customers can now open stock trading accounts via Easy Stock and get special double privileges. The first 1,000 customers who apply for an account via Easy Stock and receive approval will receive 100 baht cash back from SCB Easy Net, and the first 100 customers who trade stocks will get a 500 baht Stock Exchange of Thailand promotional gift voucher from now to 30 December 2015. For more information, please contact the SCB Call Center at tel. 0-2777-7777 or SCBS Call Center at tel. 0-2949-1999.