Bank of Thailand targets faster, more convenient financial transaction
Bank of Thailand targets faster, more convenient financial transactions
The Bank of Thailand (BOT) has announced that its strategy for 2018 is to use new technologies to achieve faster and more convenient financial transactions.
Bangkok (NNT/VNA) - The Bankof Thailand (BOT) has announced that its strategy for 2018 is to use newtechnologies to achieve faster and more convenient financial transactions.
BOT Governor Veerathai Santiprabhobrevealed that the central bank will use limited sectors or "regulatorysandboxes" to test financial innovations, such as expanding QR codetechnology for credit card payments and blockchain technology for foreigntransactions.
The bank will also examine more economicindicators to gain a better insight into the state of the country's economicperformance, in addition to incorporating more big data research.
Meanwhile, BOT Assistant Governor of theCorporate Strategy and Relations Group, Chantavarn Sucharitakul disclosed thatthe central bank aims to connect the region's financial sectors using localcurrencies in the trade and investment sectors, in addition to internationaltrade. The BOT also plans on expanding the number of branches in neighboringcountries to boost the convenience of trade.-VNA
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The Bank of Thailand. (Photo: Reuters) 
