Fintech a saviour for unbanked Thais: experts
Financial technology is the key enabler for the next era of banking and financial services in Thailand, a seminar heard on Monday.
Fintech would enable the 40 per cent of unbanked or underserved Thais to get access to formal financial and banking services, according to panellists at the “Thailand Economic Monitor, Harnessing Fintech for Financial Inclusion” seminar. The unbanked segment in Thailand is currently prey to loan sharks in an informal lending sector that is driving a crisis in household debt, which has reached an alarmingly high level of 78 per cent of GDP.
Asina Pornwasin
