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Bangkok Bank supports ASEAN payment connectivity at the 5th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting

Bangkok Bank supports ASEAN payment connectivity at the 5th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting

Bangkok Bank President Chartsiri Sophonpanich (3rd from left), Executive Director Charamporn Jotikasthira (2nd from left) together with the bank’s top executives joined Bank of Thailand Governor Veerathai Santiprabhob (3rd from right) and executives from central banks and financial institutions across ASEAN to showcase ASEAN payment connectivity innovations at the 5th ASEAN Finance Ministers’ and Central Bank Governors’ Meeting and related meetings in Chiang Rai. The Bank signed an MOU to support financial innovations and international payment services, including development of Letter of Credit (L/C) transactions between Indonesia and Thailand using Blockchain technology. Bangkok Bank is the only Thai bank to have joined with R3 Consortium to develop the L/C service, an important financial service for international trade finance which uses Distributed Ledger (DLT) or Blockchain technology. The Bank also signed an MOU on international payments with BeWallet Interoperable QR Payment under a collaboration between Singapore and Thailand. One of the Bank’s main policies is to develop financial innovations to increase efficiency of financial systems, respond to the needs of all customer groups and support ASEAN economic connectivity, as well as enable more ASEAN people to access financial services.

bangkokbank:assets/news/news-category/2019

April 05, 2019

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