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Lightnet Group Forges Partnership with Siam Commercial Bank

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Singapore-based fintech company, Lightnet Pte. Ltd. (Lightnet Group), has announced a partnership with Siam Commercial Bank (SCB). The partnership makes remittance services accessible to all Thai bank accounts and anyone who has signed up for PromptPay, a government-sponsored service that enables instant bank-to-bank fund transfers.

Suvicha Sudchai, Chief Product Officer of Lightnet Group, says “SCB will be Lightnet Group’s settlement partner responsible for disbursing and clearing payments, facilitating the electronic payment processing and enabling frictionless real-time remittances to Thailand from anywhere in the world with lower fees.”

This partnership offers SCB additional international money transfer options through Lightnet Group’s channels. “Siam Commercial Bank has been a longtime supporter of fintech startups in Thailand, and our fintech investment arm, Digital Ventures Co. Ltd., is the largest venture capital fund in Thailand, with a total capital base of USD100 million. Fintech plays an essential role in SCB’s digital transformation, and we look forward to working with the Lightnet Group to revolutionize the global remittances industry,” says EVP, Payment Strategy and Digital Disruptive Technology, Srihanath Lamsam.

On the new partnership, Lightnet Group’s CEO and Vice Chairman, Tridbodi Arunanondchai says, “We are very proud to be working with SCB to facilitate cross-border remittances together with another trusted global fintech solution provider, SENTBE. SCB is one of the most reputable banks in Thailand and the technology investment the bank employs allows us to optimize our platform and reach our goals.”

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Lightnet Group’s partnership with SCB and Sentbe extends the Lightnet Group’s reach further in line with its mission to promote financial mobility and inclusivity.

Blockchain

CoreNest Capital, Sologenic’s VC partner, invests in Texture, a U.S.-based broker-dealer, to launch SoloTex, a new platform for trading tokenized equities

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Sologenic + Texture = SoloTexAs a result of a strategic partnership between the Sologenic Development Foundation and Texture Capital Inc., a FINRA—and SEC-licensed broker-dealer, SoloTex aims to be the ultimate gateway to tokenizing and trading capital markets on demand.This innovative approach leverages tokenization to introduce features like enhanced liquidity, fractional ownership, and quicker settlement processes, offering a more efficient way to manage and exchange assets.Join the waitlist at SoloTex.com to learn more.

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Blockchain

Bybit Strengthens Partnerships and Explores Islamic Finance Innovation at Exclusive Forum

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Blockchain

Automotive Finance Strategic Business Report 2024: Global Market to Reach $517.9 Billion by 2030, Fueled by Increasing Preference for Flexible Finance Options, Including Leasing & Subscription Models

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Automotive Finance Market

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