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Thailand’s Digital Revolution in the Capital Market

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The digital transformation of the capital market is a significant and ongoing process driven by various technological advancements reshaping the industry. Mobile technology, cloud computing, open architecture, artificial intelligence, machine learning, blockchain, and the Internet of Things (IoT) are the key technologies driving this transformation. These technologies are not only making the market more accessible but also enhancing its efficiency and effectiveness.

Image credits: dga.or.th

Thailand’s capital market stands out as one of Asia’s most advanced and dynamic. It boasts deep liquidity, strong bond and equity markets, and an increasing range of alternative asset classes. The Stock Exchange of Thailand (SET) stands out in the region, known for its reliability, security, and innovative offerings.

Thailand has modernised its capital market infrastructure, investing in standardised and aggregated data sources to facilitate large-scale investment. Additionally, the country has been actively recruiting top talent to ensure its capital market’s continued growth and development.

Transparency and efficiency have been key focus areas for Thailand’s capital market development. The country has implemented various initiatives to enhance transparency, including data analytics and financial participation programmes. These efforts aim to ensure that the market remains competitive and attractive to domestic and international investors.

To continue this, the Securities and Exchange Commission (SEC) has taken a significant step towards enhancing transparency and accessibility in the capital market with its latest digital technology initiative. The SEC has integrated its “SEC Check First” application with the Digital Government Development Agency’s (DGA) central portal system, allowing citizens and investors to quickly verify the credentials of individuals, products, and intermediary operators in the capital market who have received approval from the SEC.

This collaboration between the SEC and the DGA marks a milestone in providing a more user-friendly and efficient way for people to access important information regarding investments. The “SEC Check First” application, now available on the “government” application or Citizen Portal, is a comprehensive tool for individuals to make informed investment decisions. By consolidating government services into a single platform, the Citizen Portal simplifies accessing information related to the capital market and other government services.

Mrs Pornanong Busaratrakul, Secretary-General of the SEC Office, emphasised the importance of this integration in providing convenience and increasing access to information for investors and the general public. Integrating the “SEC Check First” application into the Citizen Portal is aligned with the SEC’s strategic plan for 2024-2026, which aims to leverage digital technology for the benefit of all stakeholders. This initiative reduces the inequality of access to information and serves as a valuable tool in preventing investment fraud.

Further, Mrs Irada Lueangwilai, Deputy Director Acting Director of the Digital Government Development Agency, expressed optimism to the SEC for bringing the “SEC Check First” application to the Citizen Portal. This integration aligns with the government’s goal of promoting the use of the Super Application service, making it easier for people to access government digital services. The Citizen Portal offers more than 149 government services and has been downloaded over 959,702 times, with more than 13,736,823 cumulative uses.

Some of the most popular services on the Citizen Portal include vehicle registration information checks, driving license summaries, credit bureau checks, payment of traffic tickets, subsidy checks for raising newborn children, and civil registration information. To access these services, individuals must search for the word “government” and download the application to their mobile phones.

“Integrating the “SEC Check First” application into the Citizen Portal represents a significant advancement in digital technology within the government sector,” said Mrs Irada. “It not only enhances transparency and accessibility but empowers individuals to make informed decisions regarding their investments.” This initiative is a testament to the SEC and the DGA’s commitment to leveraging digital technology to benefit Thailand society.

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