Veerathai said three key pillars are needed to build digital banks: data from non-financial sources, an electronic identification system, and a suitable regulatory framework. Thailand is stepping up its efforts to ensure these reach international standards, he said.
(Jan 10): Thailand is laying the foundations for standalone digital banks as it strives to catch up with other Asian markets that are allowing such changes, according to its central bank governor.
“At this stage, Thailand might not have the ecosystem ready like in Singapore or Hong Kong, where the digital banking system is in better shape,” the Bank of Thailand’s Veerathai Santiprabhob said in an interview.
