Financial Landscape for Digital and Sustainable Economy
Executive Summary
Thailand's economic and financial system is going through a transformation. Technological advancement has accelerated an upgrade of financial services and narrowed the gap in financial access for businesses and households. However, businesses and households that are unable to adapt to the change in technology will risk falling behind even further.
This could exacerbate the existing structural economic problems such as household debt and inequality issues. Meanwhile, environmental challenges have also become more imminent as the impact on the economy has been more rapid and more amplified than previously expected—both from more severe changes in weather conditions and natural disasters as well as environmentally-related trade barriers imposed by many countries.
In this rapidly evolving environment, the repositioning of the financial sector needs to strike the right balance between promoting innovation and managing risks. Moreover, the financial sector needs to be more flexible in dealing with abrupt changes. This balance is necessary to enable the financial sector to adapt to the new challenges while maintaining the economy's resilience on course for a sustainable digital economy.
3 Key Directions
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https://www.bot.or.th/en/financial-innovation/financial-landscape.html
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