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NEC unveils 3 digital finance solutions to respond fintech challenges

NEC Corporation (Thailand), introduces three cutting-edge digital finance solutions that will enable the financial industry in Thailand to modernize and cope with the fintech challenges 1) Wealth Management Solutions 2) Sales Engagement Module and 3) Universal Lending Platform at the BoT event 2023 during September 14-15, 2023.   

Ichiro Kurihara, the President of NEC Corporation (Thailand) Ltd., said the company is intended to help Thai financial institutions at all sizes embrace digital technologies to reshape the future of their financial services.

Thanks to a collaboration among digital service providers, the new so-called “Embedded Finance” will be introduced to allow consumers to access various kinds of financial services such as payment, loans, insurance, and investments without having to leave the platform or application they are using. This model offers consumers a seamless and convenient way to manage their financial activities through Financial-Service-as-a-Platform which is powered by blockchain technology.

According to a payment statistics report revealed by BoT, the online payment through mobile banking, Internet banking and e-Wallet in Thailand continually increased in 2022, achieving 92.4 per cent proportion of the total payment transactions. The figure indicates that online financial services are playing an increasing role in people’s financial activities.

Kurihara said the arrival of “Virtual Banking” that BoT plans to grant a license in Thailand is also regarded as a significant step to help improve financial inclusivity for underserved customers who never have access to banking services or may experience using banking services but have not yet an access to the services efficiently.

To help financial institutions address these challenges, NEC delivers three significant digital finance solutions to modernize the Thai financial industry and encourage the financial institutions at all sizes to develop financial services for the future.

The three solutions were designed to suit medium to large financial institutions. Getting well recognized, the solutions are now in use in many leading countries around the world.

NEC’s innovative solutions will be on show in BoT event 2023 held during September 14-15, 2023 at Booth C1, 2nd floor, Bank of Thailand Learning Center building.

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