TUESDAY, March 19, 2024
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Fintech ‘sandbox’ ready for start-ups to test ideas

Fintech ‘sandbox’ ready for start-ups to test ideas

Thai Fintech Association (TFTA) president Jessada Sookdhis presided at the signing this week of an agreement to launch the “F13 Fintech sandbox”.

The signatories were Thai IT infrastructure service provider TCC Technology and Leap Solutions Asia, the cloud-platform provider for the initial batch of 13 start-ups.
The F13 initiative will allow fintech start-ups in Thailand to test, simulate and launch programs in an online cloud platform.
Selected APIs will be plugged in to deliver the programs to end-users. 
The connections will be under the scrutiny of national regulators. 
Thirteen teams are participating in six categories – blockchain, insurance, retail investments, personal finance, lending and credit, and business tools.
“The first batch will aim to encourage financial and banking services and accelerate competitive advantages and capabilities within the region,” Jessada said. 
“The programme is quite similar to those in Singapore and Malaysia, which are mainly endorsed by state enterprises. Even though we are in the early stages of pushing fintech, we have strong support from enterprises like TCC Technology and Leap Solutions Asia. It’s a good start for the fintech industry in Thailand.” 
TCC Technology executive director and acting managing director Voradis Vinyaratn noted that disruptive fintech technology globally will impact our ways of life and the industry.
“As a technology partner, we foresee new lifestyles trends being created, and 24/7 financial services are required. We strongly believe that fintech will bring about a new financial environment. To facilitate fintech from concept to reality, we’ve offered our cloud platform to host the fintech sandbox at our data centre.
“Size doesn’t matter. The ability to understand and access technology is what helps bridge providers and end-users so they can interact faster,” Voradis said. “I personally believe that a ‘ready-to-innovate’ platform will be one of many fundamental pillars to connect intelligent advantages. Moreover, selected platforms must provide the flexibility to stretch workloads and system optimisation at every stage of implementation.”
Leap Solutions Asia managing director Nacharie Rujirat said the online cloud was essential technology in driving fintech, giving start-ups the flexibility to manage package per use and the variable scale to support business growth.

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