BANGKOK -- Thailand's Siam Commercial Bank will challenge food-delivery heavyweights Grab and Gojek by launching its own service this month, hoping the quickest way to new financial customers is through their stomachs.
The move is also an attempt to flip the script on the two Southeast Asian ride-hailing companies, which have made inroads into financial services, like e-payments. Now, the country's oldest bank and fourth-largest lender by assets is entering one of their core business areas instead, which it hopes to leverage into new opportunities for lending.
