Athistha (Nop) Chitranukroh, a partner in Tilleke & Gibbins’ corporate and commercial group, was recently interviewed by Startup Thailand Magazine for an article on regulatory technology (RegTech). In the article, Athistha provides her insights on the linkages between data, law, and technology, and how RegTech is changing the way business is conducted in Thailand.
Athistha explained how RegTech could benefit banking and financial institutions in screening for sanctioned persons and companies to prevent money laundering and other illegal activities. “RegTech is one solution that will reduce the time required to screen customer information and enable financial institutions to conduct their transactions quickly and in a legally compliant way, while significantly reducing regulatory risks,” she said.
Athistha also provided an example of how RegTech could aid government agencies in serving the public. “The implementation of a RegTech database that is shared between the Thai real estate sector and the Land Department will allow parties seeking to conduct real estate transactions to check for property records online rather than having to travel to their local land office to submit requests for documents,” she suggested.
She concluded that, with the many potential benefits that RegTech has to offer, there are ample opportunities for startups to take the initiative by developing RegTech databases or platforms to meet the diverse legal needs of business operators in Thailand.
Startup Thailand Magazine is published both online and in print, and provides readers with news on the latest developments in startup technology, business, and marketing. If you would like to read the full Thai-language article, please access the PDF file on the Startup Thailand website.