The Bank of Thailand. (Photo: Reuters) Bangkok (NNT/VNA) - 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.
BOT Governor Veerathai Santiprabhob revealed that the central bank will use limited sectors or "regulatory sandboxes" to test financial innovations, such as expanding QR code technology for credit card payments and blockchain technology for foreign transactions.
The bank will also examine more economic indicators to gain a better insight into the state of the country's economic performance, in addition to incorporating more big data research.
Meanwhile, BOT Assistant Governor of the Corporate Strategy and Relations Group, Chantavarn Sucharitakul disclosed that the central bank aims to connect the region's financial sectors using local currencies in the trade and investment sectors, in addition to international trade. The BOT also plans on expanding the number of branches in neighboring countries to boost the convenience of trade.-VNA
VNA
