Leading companies in the financial, tech and telecom sectors have expressed interest in developing a virtual bank business, with the aim of exploring greater opportunities in the digital era.
They believe the proposed virtual bank licensing will lead to an acceleration of innovation in the banking sector and enhanced financial services.
Last week SCB X, the holding company of Siam Commercial Bank, said it was interested in setting up a virtual bank.
The company is keen to apply for a virtual bank licence from the Bank of Thailand, pending the central bank's publication of the licensing regulations, chief executive Arthid Nanthawithaya said at a shareholders' extraordinary general meeting.
Super-app Grab and Singapore's internet giant Sea are considering joining the fray in Thailand.Earlier Payong Srivanich, president of the state-owned Krungthai Bank (KTB), said the bank has partnered with telecom operator Advanced Info Service (AIS) on a plan to jointly invest in a virtual bank, with the aim of serving both existing and new customers.
Comments