Thailand’s first three virtual banks approved

Thailand’s first three virtual banks approved

The Ministry of Finance has approved three successful applicants to establish the first virtual banks in the country, the Bank of Thailand announced on Thursday.

Thailand approves first-ever virtual banks to boost competition and financial inclusion

The Ministry of Finance has approved three business consortia—including groups backed by True Money, Krungthai–AIS–PTT, and SCB X–KakaoBank—to launch Thailand’s first virtual banks, aiming to expand digital financial access for underserved communities and SMEs. BANGKOK, Thailand – The Ministry of Finance has given the green light to three major business consortia to establish Thailand’s first virtual banks, in an effort to enhance competition in…

Kakao Bank gains approval for virtual banking in Thailand

Kakao Bank has secured approval from the Thai government to establish a virtual bank, marking the foray of a South Korean bank into Thailand in 25 years. The Thai Ministry of Finance has selected a consortium led by SCBX, which includes Kakao Bank and Tencent-backed WeBank, as one of the three operators for the upcoming virtual banking system, reported The Korea Herald. The Bank of Thailand announced the recipients of its virtual banking licence…

Thailand approves virtual bank licenses for Krung Thai, AIS, SCB X, and KakaoBank Consortiums

Thailand’s Ministry of Finance, with the advice of the Bank of Thailand (BOT), has announced the approval of three applicants to establish virtual banks in Thailand. BOT said in a statement on Thursday that the three applicants that have received approval to proceed with the establishment of virtual banks are ACM Holding Company Limited; a consortium comprising Krung Thai Bank Public Company Limited, Advanced Info Service Public Company Limited,…

Thailand Approves Virtual Banks To Drive Financial Sector Forward

BANGKOK – The Bank of Thailand (BoT) announced that the Ministry of Finance had given the green light for three consortia to set up Thailand’s first virtual banks. This step aims to boost competition, make financial services easier to access, and update the banking sector. The groups chosen—SCB X, Krungthai Bank and Ascend Money—will start […] The post Thailand Approves Virtual Banks to Drive Financial Sector Forward first appeared on CTN News-C…