SCB thrilled with EASY-D Debenture Account success
SCB unveils the success of its EASY-D Debenture Account (or“EASY-D”), which has significantly transformed investment trend of retail investors’ towards digital channels. Embedded within the SCB EASY application, the EASY-D offers a comprehensive debentureinvestment experience, including online debenture subscription in a primary market, scripless deposit, debenture trading in a secondary market, debenture certificate deposit and transfers from other institutions into the EASY-D Debenture Account. This seamless integration allows investors to manage their debenture portfolios in one place.
The EASY-D success is reflected by the number of debenture accounts opened through this digital channel beingincreased by more than 50% annually and it is expected to continue growing. Additionally, investors have shifted from holding debenturecertificates in paper format to scripless debenture depositing in the EASY-D Debenture Account by more than half. The launch of the EASY-D has led to a sevenfold increase in primary market debenturesubscription through digital channels and the growth is expected to carry on in 2024. SCB continues to develop new features and aims to increase the proportion of debenture subscription via the SCB EASY application by over 50%, driving digital investment and fostering sustainable wealth for Thai investors.
SCB Head of Primary Markets Distribution Division, Investment Banking and Capital Markets Function, Mr. Yossavee Suttikulpanich stated that since the bank launched the scripless debenture deposit service “EASY-D Debenture Account” on the SCB EASY application in 2023 which has allowed customers to deposit debentures digitally in a scripless manner. By continuously developing investment features with the primary focus on customer needs, SCB currently offers online services for subscribing debentures in the primary market and scripless depositing for both senior and subordinated perpetual debentures, as well as senior debenture trading services in the secondary market through the EASY-D Debenture Account on the SCB EASY application. Additionally, SCB is the first bank to provide a debenture certificate deposit service and accept debenture transfers into the EASY-D Debenture Account, enabling customers to consolidate their debenture portfolios in single place. This service has been exceptionally well-received by retail investors, represented by a significant increase in the number of customers who opened EASY-D Debenture Accounts, growingby more than 50% per year. Furthermore, the proportion of customers who subscribed debentures on the SCB EASY application and held debentures in the form of debenture certificates decreased from 86% in 2022 to around 40% at the present by shifting to deposit debentures into the EASY-D, achieving this transition two years ahead of target.
“The EASY-D Debenture Account represents our commitment to develop services driven by customer needs and therefore resulted in transforming the investment behavior of retail investors who previously subscribed debentures at branches and held debentures in paper form. With the seamless experiences of opening an EASY-D Debenture Account through an app without the need of documents and visiting a branch andproviding comprehensive debenture services including primary debenture subscription, secondary buying/selling, and consolidating debentureinvestment portfolios, this has brought the number of primary debenturesubscription via the SCB EASY application growing by 7 times in 2023, compared to before the service was available. Additionally, more than half of the customers with EASY-D Debenture Accounts had never held the Bank’s investment products before. This demonstrates that the EASY-D truly reaches customer investment needs in a new dimension, aligning with the Bank’s goal of becoming a Wealth Bank. Moreover, the EASY-D Debenture Account supports the Bank’s operational goal of reaching Net Zero by 2030 by encouraging debenture investment through digital platform, which reduces paper transactions at branches and decreasing paper usage by over 1 million sheets, or equivalent to saving more than 200 trees since the launch of the EASY-D.”
The bank plans to continuously develop the EASY-D Debenture Account features to meet the needs of retail investors, fostering wealth creation through digital tools. The EASY-D targets to increase the proportion of debenture subscription via the SCB EASY application by more than 50%, to be the part to support the Bank’s target to promote digital revenue. This also aligns with the Bank’s vision of becoming a Digital Bank with a Human Touch, the leading digital bank in wealth management, providing a seamless service experience across all channels for customers. Customers interested in subscribing for debentures through the SCB EASY application are recommended to open the EASY-D Debenture Account beforehand. The upcoming debentures going to be opened for subscription on the SCB EASY application, includesDebentures of The Siam Cement Public Company Limited, The Social Debentures of Advanced Info Service Public Company Limited, Subordinated Perpetual Debentures of B.GRIMM Power Public Company Limited, Debentures of True Corporation Public Company Limited, Debentures of SCG Packaging Public Company Limited and Subordinated Perpetual Debentures of PTT Global Chemical Public Company Limited.The further information will be available through the Bank’s medias.
