Mr. Jessada Sookdhis, President of Thai Fintech Association, said “Thai Fintech Association is very pleased to work with SEC in the project “SEC FinTech Challenge” to strengthen new fintech startups. We would like to invite startups or interested persons to propose ideas, concepts or projects related to fintech to the contest. Or if anyone is seeking a topic, Thai Fintech Association has contacted universities and business operators who support the project and they can present solutions to that topic. Thai Fintech Association believes that the incubation will help build up startups and grow the fintech ecosystem in Thailand.

Mrs. Praoporn Senanarong,  Assistant Secretary-General for Capital Market Policy of  SEC, said “the project “SEC FinTech Challenge comes in the third year and is in line with  SEC policy which aims to promote innovations and new and existing operators to have technology and innovations to service in capital markets. And this year’s project is more special than the two previous years. Participants will be incubated with advice in technology and fintech startups from teams of successful and experienced experts, while being educated the related supervision. This will help the participants to gain benefits and have more opportunities to present useful innovations for the country’s financial system and capital markets. SEC will also exchange knowledge and ideas with business operators to improve its supervision to be in accordance with innovations.”

Furthermore, the event also included a seminar “FinTech Challenge: The Startup Fast-Track Gateway.” Mr. Poramin Insom and Ms. Maneerat Sriphariwathin, winners of the 1st and 2nd FinTech Challenge, respectively, shared their experience. Ms. Archari Suppiroj, Director of the FinTech Department at the SEC, said “Thailand has confronted main obstacles for startups: laws; funding sources; and competent personnel. All parties must cooperate to tackle these problems. Successful startups must understand consumers’ problems and have ideas for solutions and teams must be dedicated to have ideas come true. Sufficient budget is also required to run business.”

Before the end, Mr. Poramin Insom said “The most important thing from the SEC FinTech Challenge is the advice from related agencies and exchange of ideas in some of regulations that remain obstacles.” Ms. Maneerat Sriphariwathin added “Aside from the award, Noon Team also expanded its horizon with new aspects for business extension, received knowledge from experienced mentors, consulted with related supervisory agencies in terms of regulations, and exchanged ideas with others in the project.”

Interested parties are welcome to see details and apply for the project “SEC FinTech Challenge” at  www.FinTechchallenge.info from now to 5 July 2018.

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