Siam Commercial invests in IT security

Lender harnesses Internet to protect its business from global and political uncertainty.

Siam Commercial Bank is increasing its focus on developing its information technology security systems due to increasing global political and economic uncertainty, says Amarit Laorakpong, executive vice-president for IT solutions.

The bank has strengthened its IT security team, which now has about 30 staff covering its core banking business including deposits, loans and customer database.

In the longer term, SCB would increasingly focus on security systems that are built for higher-risk environments and issues relating to insurrections and terrorism both locally and globally.

The bank typically allocates 2 billion baht ($61.83 million) for IT development each year to support banking business operations and security systems. Banking business systems mainly focus on data warehousing, work flows and electronic channels. SCB said it would also further strengthen security systems to better deal with heightened risk.

View the full story in Bangkok Post.