BOT embraces big data, analytics for micro-financial activities
The Bank of Thailand is investing in big data and data analytics in an effort to deal with complicated transactions arising from consumers’ micro-financial activities in the digital age. In the digital age, technology has rapidly changed and it is affecting how businesses are run, posing challenges relating to business’ adoption of technology. In the next five year, the behaviour of how people consume information will change. The BOT must change to comply with that behaviour, the central bank’s Governor Veeerathai Santiprabhob said on February 23. Speaking at the Land and Houses Bank seminar on the outlook of the Thai economy in the digital age, Veerathai noted that the BOT also had to review regulations that might be barriers to businesses in the digital era in terms of operating costs.
