Wipawin Promboon, senior director of the BOT’s Financial Institutions Strategy Department, said that in providing virtual bank licensing for the first time in the country, the central bank wanted to introduce a new form of banking and financial services through digital channels, as added value to the existing services.
“The bank wants to see new financial services that meet the demands of all customer sectors, especially SMEs [small and medium-sized enterprises] and unserved/underserved groups. The goal is to create a good experience in using digital financial services for customers and encourage appropriate competition among financial institutions,” Wipawin said.
“What we don’t want to see is business practices that pose a risk to the stability of the financial system and cause large-scale damage to depositors and service users,” she added.
The BOT plans to introduce…
