Thailand Post, the government-owned logistics firm, is examining the possibility of becoming a neutral virtual banking agent to supplement the functions of emerging virtual banks, according to Chief Executive Dhanant Subhadrabandhu. The national organisation plans to use its extensive network of 1,600 branches and a delivery workforce of 25,000 to support this initiative.
Serving as a neutral virtual bank agent presents a fresh business prospect for Thailand Post’s ongoing financial and retail operations, Dhanant stated. The company is slated to decide by June on its potential participation in the evolution of virtual banks, three months before the Bank of Thailand’s September cut-off for virtual bank applications.
Contrary to the primary digital nature of virtual banks, Thailand Post could simplify these operations by acting as a physical…
