Thailand: First Virtual Bank CLICX Picks Thought Machine to Power Gig-Worker Loans
Thailand’s first virtual bank, CLICX, has chosen London-based Thought Machine to run its core banking system, the engine that keeps track of every account, deposit, loan and interest payment. The bank says the cloud-based platform will let it design and tweak loan and savings products in-house, aimed at freelancers, daily wage earners and small business owners that traditional banks often turn away.
Key facts
- CLICX is backed by state-controlled Krungthai Bank, mobile operator Advanced Info Service (AIS) and PTT Oil and Retail Business (OR), which runs PTT petrol stations and Café Amazon outlets.
- The bank will use Thought Machine’s Vault Core, a cloud-native core banking platform, to build and manage its products.
- The Bank of Thailand (BOT), the country’s central bank, granted CLICX its virtual bank licence on 14 May 2026, the first of three approved applicants to get one.
- CLICX opened to customers in June 2026, starting with a savings account and plans for a digital credit line.
- The bank says it is the first of the new virtual banks to be operationally ready within the BOT’s timeline.
What the deal changes
A core banking system is the ledger at the heart of a bank. Older systems often bundle product rules, such as how interest is calculated or how long a loan runs, deep inside the software, so every change needs the vendor’s help. Vault Core separates these product rules from the underlying ledger. CLICX’s technology chief, Wannasit Chaiphinan, said this lets the bank’s own team configure, test and refine products with less dependence on vendor-led changes.
That flexibility matters for the kind of lending CLICX wants to do. The bank plans to use data that customers agree to share from mobile, retail and payment networks, including those of its shareholders, to judge credit risk. The aim is to offer nano-loans (very small, short-term loans) and digital personal loans, with interest rates priced to each borrower’s risk and repayment terms that fit irregular incomes.
The platform can also plug banking services into the apps, shops and payment channels of AIS and OR. In practice, that could mean a rider or market trader opening an account or getting a small loan through a phone app or at a petrol station counter rather than a bank branch.
Why it matters
Thailand is the latest Asian market to license branchless banks. In June 2025 the finance ministry approved three groups: the Krungthai-AIS-OR consortium behind CLICX, an SCB X consortium with China’s WeBank and South Korea’s KakaoBank, and ACM Holding. The BOT governor has said he expects at least two virtual banks to be operating by the end of 2026.
The regulator’s goal is to reach people with thin credit files, such as gig workers and online sellers, who often turn to informal lenders. But lending to this group is risky, and CLICX has already had to tighten loan approvals since launch. A core system that lets the bank change pricing and terms quickly could help it manage that risk as it grows, though technology alone will not guarantee good loan quality.
The model will look familiar in Malaysia, where Bank Negara Malaysia (BNM) licensed five digital banks in 2022 with a similar mission to serve underserved consumers and small firms. Like CLICX, several of them lean on the customer data and channels of their telecom, ride-hailing or retail shareholders.
What to watch
- When CLICX rolls out its digital credit line and nano-loans more widely, and how strict its approvals remain.
- Launch dates for the SCB X-led and ACM Holding virtual banks, which will compete for the same customers.
- Whether CLICX starts offering banking inside AIS and OR channels, a key test of the shareholder-ecosystem model.
Related: Thailand Sets Five New Rules by March 2027, From BNPL Licences to Baht Stablecoins · How Malaysia’s payment system works
Sources: Fintech News Singapore (November 2026), InfoQuest (November 2026), Fintech News Singapore (May 2026), Nation Thailand (May 2026), Fintech News Singapore (June 2026)
