BANGKOK (NNT) – Advanced Info Service (AIS) and Krungthai Bank (KTB) have teamed up to invest in a virtual bank that will serve both existing and new customers.

KTB president Payong Srivanich stated that KTB and AIS signed a memorandum of understanding to jointly invest in a virtual bank, which will offer regular banking services online without the need for physical branch offices. He said that the partnership reflects the business expansion for both parties.

Currently, financial institutions are waiting for the Bank of Thailand to issue virtual bank regulations, which are likely to be announced soon.

Full story: National News Bureau of Thailand

Reporter: Tarin Angskul
National News Bureau of Thailand