BAAC taps tech to boost farmers’ incomes
The bank for Agriculture and Agricultural Cooperatives is stepping up its push to become more customer-focused under initiatives aimed at boosting farmers’ incomes. The bank also plans to upgrade 900 of what it calls community financial institutions by teaming up with grass-roots financial organisations. The moves fall under what the bank dubs its “BAAC 4.0” platform, mirroring the government’s “Thailand 4.0” policy for technological development. BAAC president Apirom Sukprasert said the bank, now entering its sixth decade, would strive to blur the boundaries between the types of financial services offered to urban and rural customers. To do this, it would rely on innovation and the upgrade to BAAC 4.0, he said, as the lender became “a rural universal bank”.
