Regulation is one of the main keys to unlocking potentials in doing business. In this session, the topic of Fintech Regulation in Thailand will be the main focus. It is joined by all four key regulators in Thai regulation institutions, the Office of Insurance Commission, Bank of Thailand, The Securities and Exchange Commission, and Anti-Money Laundering Office, who are going to explain must-know information.
Before stepping in to invest in the Thailand market, it is literally important that your business as either Financial Institution or Non-financial Institution must comply with the Anti-Money Laundering Law which includes 5 main topics;
One of the Bank of Thailand initiatives toward the future of Finance is the establishment of BOT Regulatory Sandbox, the experimental framework for innovatives financial services which leverage new technologies with accommodative regulations under a limited environment.
This has been developed and launched since 2016 with three objectives: promoting financial innovation, Protecting consumer rights and containing acceptable risks. For the past 4 years, more than 70 innovative financial products and services have been tested in the BOT Regulatory Sandbox and some of them are Standardized QR code for payments and KYC/ e-KYC which increase convenience for new generation in Digital society significantly.
However, the great opportunities of Digital Transformation always come with relevant risks. For this reason, it is necessary to revisit risk management and regulation to balance between the adoption of financial technology, the security of IT systems and consumer protection as key challenges which must be continually developed in the future.
There are more sessions that can’t be missed next week! For more information about this event, visit https://ukfintech.techsauce.co/.