CLICX Selects Thought Machine to Power Thailand’s First Operational Virtual Bank

CLICX, a new digital banking venture formed by Krungthai Bank, Advanced Info Service (AIS), and PTT Oil and Retail Business, has selected Thought Machine’s Vault Core to power its operations. This partnership marks the first instance of a Thai virtual bank reaching operational readiness under the Bank of Thailand’s regulatory framework, targeting the nation's underserved gig economy.

What was announced

CLICX has reached operational readiness as Thailand’s first new virtual bank, adhering to the regulatory timetable set by the Bank of Thailand. The institution is built upon Thought Machine’s Vault Core, a cloud-native core banking platform designed to allow the bank to launch rapidly and adapt its product suite in response to shifting market conditions. By utilizing a real-time engine, CLICX intends to ingest customer-consented data from mobile, retail, and payment networks to enhance its credit risk modeling.

The bank is specifically designed to serve freelancers, daily wage earners, and small entrepreneurs—segments often overlooked by traditional credit assessment methods. Through the use of real-time behavioral data, CLICX plans to offer nano-loans and digital personal loans featuring risk-based pricing, personalized interest rates, and tailored terms. The architecture of Vault Core enables CLICX to maintain full control over its product engine by decoupling product logic from the underlying infrastructure. This allows the bank to build and reconfigure products or adjust interest rate models in-house, removing the need for traditional vendor-led release cycles. Furthermore, the bank will natively embed its financial services into the existing mobile and retail touchpoints of its parent companies, Krungthai Bank, AIS, and OR.

"Many people in Thailand earn a living through freelance work, daily wages or small businesses, yet their financial lives are not always fully reflected in conventional banking assessments. Our vision is to build a bank that understands how people live and work, and helps them access financial services suited to their needs, from managing everyday money to borrowing responsibly and building savings for the future."

Suporn Sunthornrohit, CEO of CLICX

The companies involved

CLICX is a strategic digital banking enterprise born from a partnership between three of Thailand’s most prominent corporate entities. Krungthai Bank (KTB) is a major financial institution in the region, while Advanced Info Service (AIS) is Thailand's leading mobile operator. PTT Oil and Retail Business (OR) brings an extensive retail and energy footprint to the venture. Together, these parents provide CLICX with a massive ecosystem of data and customer touchpoints across the mobile, retail, and payment sectors.

Thought Machine, the technology provider, is a London-headquartered fintech that has become a dominant force in the core banking market. The company recently reported surpassing $100 million in Annual Recurring Revenue (ARR) and total annual revenue, supported by a 57% year-on-year growth rate. Thought Machine’s client list includes more than 20 global tier 1 banks. The deployment at CLICX strengthens Thought Machine’s footprint in Southeast Asia, where it already supports digital bank builds and deployments in Singapore, Malaysia, Vietnam, and the Philippines.

What FF News has reported before

FF News has closely tracked Thought Machine’s expansion into the tier 1 banking sector and its technological evolution. Recently, the publication covered how CIBC Selects Thought Machine’s Vault Core for Cloud-Native Banking Overhaul, marking a significant win for the company in the North American market. Additionally, FF News reported on the firm’s efforts to lower the barrier for legacy banks to modernize, noting that Thought Machine and AWS Launch AI Tool to Accelerate Legacy Core Banking Migrations. The company’s growth has also been supported by the broader fintech investment landscape, as seen when Molten Ventures Secures £175M First Close for New European Growth Fund, highlighting the continued investor appetite for high-growth fintech infrastructure.

What this means

The operational readiness of CLICX signals a turning point for Thailand’s financial sector, moving virtual banking from a regulatory concept to a functional reality. By leveraging the combined data of a major bank, a telecom giant, and a retail leader, CLICX is putting immense pressure on traditional lenders who rely on static credit scoring. The industry will be watching closely to see if cloud-native cores can truly solve the "thin-file" credit problem at scale. For the wider Southeast Asian market, this deal confirms that the battle for core banking dominance is increasingly being won by providers who offer architectural independence over those tied to legacy roadmaps.