Five Consortia Compete for Thai Virtual Bank Licences
Five major business consortia have confirmed applications for virtual bank licences in Thailand before the deadline on Thursday. The Bank of Thailand and Ministry of Finance will announce the winners next year. The consortia include Lighthub Asset-WeLab, Ascend Money, Sea Limited partnership, Krungthai Bank consortium, and SCB X consortium, each aiming to transform the financial sector.
The competition for virtual bank licences in Thailand has intensified, with five major business consortia confirming their applications before the deadline on Thursday.
The Bank of Thailand and the Ministry of Finance will jointly issue an unspecified number of licences, with winners announced in the first half of next year.
These consortia include Lighthub Asset-WeLab, Sea Limited-led partnership, Ascend Money, a consortium involving Krungthai Bank, Gulf Energy Development, and PTT group, and another with SCB X, KakaoBank, and WeBank.
Each consortium aims to leverage their strengths to revolutionise Thailand’s financial sector by providing innovative AI-powered financial services.
The Bank of Thailand and the Ministry of Finance will jointly issue an unspecified number of licences, with winners announced in the first half of next year.
These consortia include Lighthub Asset-WeLab, Sea Limited-led partnership, Ascend Money, a consortium involving Krungthai Bank, Gulf Energy Development, and PTT group, and another with SCB X, KakaoBank, and WeBank.
Each consortium aims to leverage their strengths to revolutionise Thailand’s financial sector by providing innovative AI-powered financial services.
