The Bangkok Bank in Thailand has launched an international FinTech accelerator program named Bangkok Bank InnoHub, an intensive 12-week program that i
The Bangkok Bank in Thailand has launched an international FinTech accelerator program named Bangkok Bank InnoHub, an intensive 12-week program that is going to be hosted in Bangkok.
The program has been initiated by Bangkok Bank, one of the largest banks in Southeast Asia. International FinTech founders and innovators above the age of 18 are welcomed to apply until May 10, 2017.
“For Bangkok Bank, there is potential to adopt new technologies to further the development of innovative services and experiences for our customers, and in partnership with Nest, we will source and select startups that have strong relevance to our business.”, said in a statement quoted by the publication Panukorn Chantaraprapab, Executive of Business Investment Department at the bank.
The accelerator program looks for applicants who develop technologies and solutions for payments, electronic know-your-customer (eKYC), machine learning and artificial intelligence. While international participants are wanted, the focus will be solutions that can be implemented in the southeast Asian region (ASEAN), wrote cryptocoinnews.com.
FinTech is booming in Thailand
Businesses and companies in Thailand have been known for several notable developments in the field of financial technology.
Kasikornbank, a leading Thai bank in Bangkok, has announced its decision to launch a new FinTech platform by the end of this year. The goal is faster, easier and low-cost online banking transactions, according to Kattiya Indaravijaya, one of four presidents at the Bangkok-based company.
Last year, Thai starting company Everex used the Ethereum blockchain to conduct a remittance pilot that enabled 100 participating migrant workers to make an instant money transfer to their home country, Myanmar, reads on cryptocoinnews.com.
Earlier this month, the operator of Thailand`s stock exchange revealed its plans to start a blockchain-based marketplace for trading in start-ups, as Bangkok Post (bangkokpost.com) reported.
“It will be a ‘marketplace’, not a miniature of the SET and MAI, where investors generally believe that securities traded are well-selected and regulated. As [the marketplace] is not a trading board, there is no regulator to verify their quality and investors must make investments by themselves.”, commented SET senior vice president and marketing chief Santi Kiranand.