The Thai Bankers Association is ready to drive Bangkok to the “Economy of Green Cities” and promote the policy to support BCG (environmentally friendly loans). Bringing digital infrastructure to boost efficiency to enhance the service of Bangkok for sustainable growth in line with the Thai Bankers’ Association’s 3-year strategy.
Mr. Chadchart Sittipunt, Governor of Bangkok, revealed after the meeting with the executives of the Thai Bankers’ Association on July 18, 2022, that today’s meeting has many issues that focus on cooperation in many ways. The Thai Bankers’ Association is the third agency that cooperates with Bangkok. After meeting with the Thai Chamber of Commerce and the Federation of Thai Industries, all of which are the 3 pillars of Thailand’s economy. In the future, there will be a push to set up a joint committee to discuss and exchange ideas. and monthly cooperation between Bangkok and business sectors such as the Thai Chamber of Commerce Federation of Thai Industries and the Thai Bankers’ Association. Today, the Thai Bankers’ Association has been aware of the goals and concepts of Bangkok. and would like to support Bangkok as a livable city, the main city of job creation, attracting investors from around the world, creating happiness for Thai people and being an important city in driving the country. The establishment of the committee is expected to be completed within a month. Urban development must be coordinated because livable cities need to create jobs and improve the economy.
Bangkok will facilitate the private sector by simplifying steps to promote foreign and domestic investment. This is done in parallel with the improvement of quality of life. including the use of technology to improve the quality of life. Currently, the bank has made great advances in application, service, and authentication technology. Bangkok may bring some of them to use with the application of Bangkok. For example, educating people in the community on how to use the application as well as providing information for the community to access funding sources for low-income people. by creating a database and using open data.
The Governor of Bangkok added that Bangkok takes care of more than 2,000 communities, which is a huge database. Many people in the community need a source of funding or a source of loans if they can link the database to know their residence and the identity of the borrower. This includes using applications to enable banks to reach their customers and their customers to have better access to funding. It will solve the current problem that people have of borrowing informal debt. Because Bangkok has a lot of community information that can be developed as a database. The bank can utilize It will give people better access to funding sources. Because at the heart of improving the quality of life is access to the source of money. If people do business better, it will play a part in reducing inequality. Because the source of funds is important to get out of poverty. Initially, it may start to develop from 1 community or 1 occupation first, such as hawker stalls, since there is a clear identity so that they can access the funding system. If successful, it will be a model that will continue to expand this success.
“Right now, many communities don’t have access to technology to access funding. The idea of setting up community technology volunteers This may be the first new generation who has access to technology to recommend this technology to people in the community. including collecting community databases. In which we have started training some technology volunteers, around 10,000 of those who sweep the streets of Bangkok can use Traffy Fondue technology. because they live in every district and every community In the future, it may be the introduction of banking technology. so that people in the community have access to funding sources It will develop the economy, society, and environment to reduce inequality and increase the efficiency of Bangkok’s operations. which is expected to see results within 6 months,” said Mr. Chadchart.
Mr. Payong Srivanich, president of the Thai Bankers’ Association, revealed that the association and member banks are ready to support the development of Bangkok both in terms of economic, social, and environmental development to reduce inequality and increase the efficiency of Bangkok’s operations In line with the Association’s three-year strategic plan that aims to enhance competitiveness and enhance sustainable growth for society and the country.
The association will push the business sector to adapt to the Green Economy and BCG Economy, or the economic model for sustainable development. through supporting environmentally friendly credit and aiming to advance financial and digital literacy. Create a mechanism to promote financial discipline and savings. Particularly for retirement savings in order to reduce inequality and promote greater access to financial products and services for individuals and businesses, including assisting underprivileged groups in gaining access to basic financial services in the banking sector.
In addition, financial technology will be used to help develop Bangkok and drive digital transformation. By promoting the adoption of digital systems in the work process, including payment, collection of fees, payment of fines, and issuing electronic receipts by encouraging the adoption of the digital payment system to be used in all districts and departments of Bangkok. and encourage the use of the Digital Supply Chain Finance Platform to be used in the procurement of Bangkok and its affiliates. to increase efficiency, create transparency, and be able to link information that is mutually beneficial between the public and private sectors. It will also help SMEs in Bangkok’s procurement supply chain have access to more funding sources, as well as cooperate in developing human resources in the form of knowledge sharing or capacity building to create synergy together.
The association also supports the development of Bangkok. It is a pilot city to link the payment systems of tourists in the region when traveling. This is in line with the Association’s Regional Champion program to support entrepreneurs, investors, and the public to be able to carry out trade activities, international investment, and payment of tourists in the region quickly, securely, and at low cost.
“Thai Bankers Association is ready to cooperate with all sectors in developing Bangkok to be strong in all aspects to be a livable city and a center for attracting tourists from around the world, which is part of the sustainable economic development of the country. “