Following this announcement, licenses were granted based on several central bank recommendations. The approval also extended to two other institutions: ACM Holding Company and a consortium led by state-run Krung Thai Bank.
Authorities evaluated business models, digital capabilities, and potential impacts on financial inclusion—especially focusing on underserved consumers and small businesses. This authorization will allow Kakao Bank to continue prioritizing the needs of its clients and customers in an evolving market while ensuring compliance with local regulatory requirements.
Details of Kakao Bank’s Initiative for Thailand’s First Digital Bank
According to officials, the central bank expects digital lenders like Kakao Bank to enhance customer experiences, boost efficiency, and promote healthy competition through improved pricing. The number of new banks was carefully considered to maintain a balance between fostering competition and ensuring financial system stability.
Kakao Bank is committed to serving as a gateway for Korean financial institutions entering the Thai market by providing businesses and individuals with advanced digital finance technology solutions.
