THE AGE of digital transformation is dawning on Thailand’s economy and society as evidenced by crucial developments in banking, retail and other sectors. The Bank of Thailand reported that commercial banks had shut down nearly 300 bank branches in the country in 2017 as customers moved towards Internet and mobile banking services, ushering in a new era of digital banking. In the meantime, Siam Commercial Bank (SCB) is leading the pack by launching its “SCB Express” concept – fully-automated banking centres in various Bangkok locations. E-commerce, mobile payments using QR Codes, digital banking on the go, cashier-less grocery shopping and other innovations will start to become the norm this year as traditional business models merge with digital technology to stay relevant. Such a use will be sanctioned by law to ensure that this and other online activities are legally binding in the digital age.

Source: The Nation Bangkok January 01, 2018 16:07 UTC