Open data is a key factor to survival for the three virtual banks in the pipeline.
Since digital loans are a key product to generate profit for the new banking businesses, open data is necessary to allow virtual banks to attract customers and control asset quality, Sam Tanskul, managing director of Krungsri Finnovate (KFIN), the corporate venture capital unit under Bank of Ayudhya (Krungsri), said at a Bangkok Post Tech Conference 2023 session entitled “Thailand’s Innovation Redefined: New S-Curve, AI and Virtual Banking”.
Moreover, size is crucial for virtual banks in Thailand to secure a footing and survive. As a result, the Bank of Thailand requires minimum registered capital of 5 billion baht to apply for a…
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