THE NEW VIRTUAL BANK AND ITS ADVANTAGES ON THAI FINANCIAL

Abstract

This research aims to 1) study the implementation of branchless commercial banks to address issues of financial inclusion and accessibility to financial services with financial institutions, 2) examine the advantages and disadvantages, as well as potential solutions to various problems that may arise after the adoption of branchless commercial banking services, and 3) investigate the factors that would sustainably enable branchless commercial banks to provide services and foster market competition for the greatest benefit to Thai society. The study found that introducing virtual banks to Thailand would help individuals with low incomes access financial services more broadly, but service providers must be fair, transparent, and accountable, operating under appropriate supervision to ensure a balanced financial market. Moreover, that technology must demonstrate its benefits in practical use in order to garner interest and acceptance from people.