Picture courtesy of SCB
The race is heating up for the new virtual bank licences, with five heavyweight business groups ready to battle it out.
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The race is heating up for the new virtual bank licences, with five heavyweight business groups ready to battle it out. Gulf consortium has already thrown its hat into the ring, according to Krungthai Bank (KTB) president Payong Srivanich. This power team includes Gulf Energy Development and PTT Group.
Armed with a solid business plan and robust ecosystem that meets central bank regulations, the consortium is feeling confident, said Payong.
“Our virtual bank aims to cater to unbanked and underbanked customers. Despite the higher credit risks, we are banking on innovative tech to manage these effectively.”
Bangkok Bank (BBL) president, Chartsiri Sophonpanich, also expressed keen interest in virtual banking and is currently analysing customer segmentation. BBL ambitions to extend its customer base, ensuring financial inclusion in today’s digital age….