AIS in talks with PTT OR for virtual bank licence application

Potential collaborations are underway as Advanced Info Service (AIS) engages in discussions with PTT Oil and Retail Business (OR) and a digital platform provider. The objective is to apply for a virtual bank licence from the Bank of Thailand, revealed AIS Chief Executive, Somchai Lertsutiwong. This partnership would be an addition to AIS’s current plan to secure a license with its existing partner, Krungthai Bank (KTB).

In the previous year, AIS and KTB made public their intention to collaborate on the creation of a virtual bank. However, as Somchai pointed out, the discussions regarding the partnership are still ongoing, with all parties awaiting final information from the central bank.

The Bank of Thailand’s announcement regarding application submission is pending approval from the Finance Ministry. Once the green light is given, the…