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Bank of Thailand governor Veerathai Santiprabhob, says the BOT will issue banking agent licences in the first quarter this year, aiming at helping banks to cut costs and better respond to fast changing technology.

Commercial banks have already closed some of their branches as they turn to information technology to operate mobile banking.
Commercial banks have also changed the way they service customers with banking agent as one of the option, Veerathai said yesterday on the sideline of a annual seminar hosted by the Federation of Thai Capital Market Organisations.
Asked whether he worried about unemployment should banks close more branches, Veerathai said with proper training, banks could designate staffs to other tasks.
“Technology has affected everyone and most institutions, so we need to adapt ourselves by learning new skills,” he added.

Published : January 23, 2018

By : The Nation