Thailand FinTech ecosystem

Thailand FinTech ecosystem

The spread of the digital disruption to more and more sectors does not spare banking and finance. In Thailand, the emergence of a new generation of financial technology – FinTech – startups spurs the development of a complete ecosystem of supporting structures, from funding and regulation to accelerators and events.

Just like in the Philippines, where providing financial services to the “unbanked” is a rapidly growing market, the difference of connectivity between urban and rural areas of Thailand creates an opportunity to reach large populations that are well connected to digital technologies but under-connected to major banking and financial services.

Numbers of Internet, social media and mobile users in Thailand in November 2015

This untapped market together with many other opportunities to enhance financial services through new technologies has given birth to this new wave of FinTech startups in Thailand. Emulating the well-developed FinTech ecosystem of Singapore, Thai startups are also facing challenges from other countries, such as the FinTech startups of Vietnam.

Rushing to new financial frontiers

Sensing the enormous potential of new technologies to reach more people and to enhance old business models, both banking and financial corporations and startups are trying to develop as fast as possible. They aim at new segments that could generate billions of dollars in a few years, such as:

  • mobile payments
  • credit and lending
  • personal finance
  • insurance technology – InsureTech

Several other new developments such as crypto-currencies (like Bitcoin) and the Blockchain money transfer technology, crowdfunding, investments and financial monitoring and many more also attract lots of interest from techies and venture capitalists.

The following slide deck gives a broad presentation of the global and regional FinTech environment before entering into details of the Thai supporting structures for FinTech startups in Thailand and highlighting the activities of some leaders in the Thai FinTech scene.

FinTech ecosystem of Thailand – summary

  • What is FinTech? – slide 5
  • FinTech unicorns – slide 6
  • Examples of FinTech unicorns – slide 7

FinTech in Asia – slide 8

  • More mature FinTech ecosystems in Asia – slide 9
  • Banking and FinTech startups programs – slide 10
  • Selected regional updates – slide 11

FinTech in Thailand – slide 14

  • Funding rounds by categories – slide 15
  • Regulators – slide 16
  • Thai FinTech club – slide 17
  • Thai Banking and FinTech – slide 18
    • Siam Commercial Bank – slide 19
    • Krungsri – slide 21
    • Kasikorn Bank – slide 22
  • Local meetup – next money BKK – slide 24
  • Telco’s startup accelerators and FinTech – slide 25
  • Global FinTech ecosystem – slide 26
  • Thailand FinTech ecosystem – slide 27
  • Banks and FinTech startups – slide 28
  • Thailand FinTech case study – slide 31

Presentation from September 2015 by Techsauce, updated in September 2016

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