This section is a compilation of relevant information gathering from many sources that represent or help reader understand the big picture of Thailand InsurTech (& Fintech) ecosystems.
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By collaboration with British Embassy Bangkok and Financial Sector & Intellectual Property Programme, UK Experts have compiled information which provided a lot of insightful information as of 31/May/2021 per below...
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Financial Sector & Intellectual Property Programme (FSIP) collaborates with Thai Fintech Assocation (TFA)
TFA is a community with a mission to drive financial technology industry in Thailand.
TFA aim to deliver sustainable development in the fintech industry through domestic and global networking
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InsurTech and Fintech Innovation Ecosystem Mapping
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We believe the format of this diagram is useful in defining the fintech innovation ecosystem as opposed to the broader fintech ecosystem. Fintech innovation ecosystem players are subdivided into groupings defined by the grey circles in the infographic above, which identify types of organizations of firms. These “grey circle” entities cluster around key themes or attributes, including capital, talent, demand, and policy and infrastructure.
In this diagram, “FinTech firms” are placed at the center, in the black circle, and are essentially the focus or target of the firms and organizations in the grey circles. This diagram was developed in the UK, where a significant amount of attention is paid to promoting and nurturing the fintech industry. This is also true in Thailand. |
Thailand InsurTech (&Fintech) Innovation Ecosystem
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Key observations of the Thailand FinTech Innovation Ecosystem include:
• There are a large number of players in most of the categories (Venture Capital firms, Accelerators, and Corporates) - indicating the presence of capable fintech firms and strong investor support and interest. • Supervisory Regulators (our Stakeholders) and Government Facilitators - indicating significant support by policymaking bodies, and strong government interest in technology and fintech. • Traditional FIs - included only those incumbent financial institutions that are active in fintech • Angel Investors - very actively involved in the ecosystem, but as these investors are often individuals and can be quite numerous • Media companies and venture builders - strong in supporting the fintech industry |
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We can conclude that the Thailand Fintech Innovation Ecosystem has multiple players operating in most major categories. We can conclude that Thailand has all the necessary elements in the ecosystem to generate strong financial sector development, address all major technical issues, and promote a significant expansion of financial access based on the resources available in the country. The question becomes how best to mobilize or leverage these resources.
Full Report from FSIP Team
What we have defined earlier as the fintech innovation ecosystem is displayed on the outside corners and in the outermost “ring” of this map. Within the two concentric rings are displayed the fintech industry, subdivided into verticals.
The FSIP Team believes that both Fintech Firms and Fintech TH will require additional fine-tuning and modification to achieve maximum clarity and to incorporate changes that occur as the ecosystem develops. Having good visual representations of the fintech and fintech innovation ecosystems provides a useful set of tools to refer to when considering the recommendations presented in this report.
The FSIP Team believes that both Fintech Firms and Fintech TH will require additional fine-tuning and modification to achieve maximum clarity and to incorporate changes that occur as the ecosystem develops. Having good visual representations of the fintech and fintech innovation ecosystems provides a useful set of tools to refer to when considering the recommendations presented in this report.
Cambridge Centre for Alternative Finance
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This website is dedicated to CCAF's digital tools - a set of interactive data visualizations that provide timely FinTech market data to enable the work and practice of market participants, policymakers and regulators.
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