Dublin, May 28, 2024 (GLOBE NEWSWIRE) -- The "Thailand Embedded Finance Business and Investment Opportunities Databook - 75+ KPIs on Embedded Lending, Insurance, Payment, and Wealth Segments - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
Embedded Finance industry in Thailand is expected to grow by 42.9% on annual basis to reach US$ 1.95 billion in 2024. The embedded finance industry is expected to grow steadily over the forecast period, recording a CAGR of 30.5% during 2024-2029. The embedded finance revenues in the country will increase from US$ 1.95 billion in 2024 to reach US$ 7.42 billion by 2029.
Thailand's embedded finance market is poised for significant growth, driven by rising smartphone penetration, a robust digital infrastructure, and supportive regulatory policies. Embedded finance integrates financial services like payments, lending, or insurance directly into non-financial platforms. This seamless integration enhances user experience by offering convenient and personalized financial solutions within familiar ecosystems. Thailand, with its tech-savvy population and growing e-commerce sector, presents a fertile ground for embedded finance to flourish.
Major Innovation and Deals of Thailand Embedded Finance Market:
In 2023, NEC Corporation has introduced three modern digital finance solutions that aim to enable the financial industry in Thailand to cope with fintech challenges. The offering comprises Wealth Management Solutions, a Sales Engagement Module, and a Universal Lending Platform. Collaborating with Avaloq, a subsidiary of NEC specializing in wealth management technology, and BlackRock, a fintech provider, NEC created a dashboard that enhances asset management efficiency. This dashboard includes risk level assessments, empowering customers to make well-informed portfolio decisions based on return estimates.
HSBC announced a memorandum of understanding (MoU) with the Thai Fintech Association to help further engage the next generation of Thai tech unicorns. It also announced a new white paper on how corporate treasury can navigate the dynamic payments landscape.
Mambu, the software as a service (SaaS) cloud banking platform, unveiled new research that reveals over a quarter (26 per cent) of Gen Z Muslims solely use Islamic banking, though 85 per cent of them are interested in banking with a financial institution that offers Shariah-compliant products, an increase from 2021.
Digital public infrastructure PlatON also showcased its latest advancements in deposit tokenization technology to a global audience through its Web3 payment solutions, including TOPOS MINT, a blockchain-based professional tokenized deposit issuance system, TOPOS RemiNet, a DEX-based open remittance network, and TOPOS, an on-chain payment acquiring product.
In Oct 2023, Ascend Money becomes Thailand's first FinTech unicorn following $150m funding round. The fresh capital infusion will be directed towards expanding the user base of its e-wallet application, TrueMoney Wallet, and advancing digital financial services, encompassing digital lending, digital investments, and cross-border remittances across Southeast Asia. Ascend Money's primary mission is to drive regional financial access and inclusion.
Key Players of Thailand Embedded Finance Market:
Fintech Companies: Fintech startups like Grab and LINE are leading the charge in Thailand's embedded finance space. Grab offers financial services like payments and microloans within its ride-hailing and food delivery app, while LINE Pay facilitates seamless transactions within the popular messaging platform.
Traditional Banks: Banks in Thailand are recognizing the potential of embedded finance and are partnering with non-financial platforms to offer co-branded financial products and services.
Technology Providers: Technology companies are playing a vital role in developing the infrastructure and APIs necessary for seamless embedded finance integration.
Scope
Thailand Embedded Finance Market Size and Forecast
Embedded Finance by Key Sectors
- Retail
- Logistics
- Telecommunications
- Manufacturing
- Consumer Health
- Others
Embedded Finance by Business Model
- Platforms
- Enabler
- Regulatory Entity
Embedded Finance by Distribution Model
- Own Platforms
- Third Party Platforms
Thailand Embedded Insurance Market Size and Forecast
Embedded Insurance by Industry
- Embedded Insurance in Consumer Products
- Embedded Insurance in Travel & Hospitality
- Embedded Insurance in Automotive
- Embedded Insurance in Healthcare
- Embedded Insurance in Real Estate
- Embedded Insurance in Transport & Logistics
- Embedded Insurance in Others
Embedded Insurance by Consumer Segments
- B2B
- B2C
Embedded Insurance by Type of Offering
- Embedded Insurance in Product Segment
- Embedded Insurance in Service Segment
Embedded Insurance by Business Model
- Platforms
- Enabler
- Regulatory Entity
Embedded Insurance by Distribution Model
- Own Platforms
- Third Party Platforms
Embedded Insurance by Distribution Channel
- Embedded Sales
- Bancassurance
- Broker's/IFA's
- Tied Agents
Embedded Insurance by Insurance Type
- Embedded Insurance in Life Segment
- Embedded Insurance in Non-Life Segment
Embedded Insurance in Non-Life Segment
- Motor Vehicle
- Fire and Property
- Accident and Health
- General Liability
- Marine, Aviation and other Transport
- Other
Thailand Embedded Lending Market Size and Forecast
Embedded Lending by Consumer Segments
- Business Lending
- Retail Lending
Embedded Lending by B2B Sectors
- Embedded Lending in Retail & Consumer Goods
- Embedded Lending in IT & Software Services
- Embedded Lending in Media, Entertainment & Leisure
- Embedded Lending in Manufacturing & Distribution
- Embedded Lending in Real Estate
- Embedded Lending in Other
Embedded Lending by B2C Sectors
- Embedded Lending in Retail Shopping
- Embedded Lending in Home Improvement
- Embedded Lending in Leisure & Entertainment
- Embedded Lending in Healthcare and Wellness
- Embedded Lending in Other
Embedded Lending by Type
- BNPL Lending
- POS Lending
- Personal Loans
Embedded Lending by Business Model
- Platforms
- Enabler
- Regulatory Entity
Embedded Lending by Distribution Model
- Own Platforms
- Third Party Platforms
Thailand Embedded Payment Market Size and Forecast
Embedded Payment by Consumer Segments
- B2B
- B2C
Embedded Payment by End-Use Sector
- Embedded Payment in Retail & Consumer Goods
- Embedded Payment in Digital Products & Services
- Embedded Payment in Utility Bill Payment
- Embedded Payment in Travel & Hospitality
- Embedded Payment in Leisure & Entertainment
- Embedded Payment in Health & Wellness
- Embedded Payment in Office Supplies & Equipment
- Embedded Payment in Other
Embedded Payment by Business Model
- Platforms
- Enabler
- Regulatory Entity
Embedded Payment by Distribution Model
- Own Platforms
- Third Party Platforms
Thailand Embedded Wealth Management Market Size and Forecast
Thailand Asset Based Finance Management Industry Market Size and Forecast
Asset Based Finance by Type of Asset
- Hard Assets
- Soft Assets
Asset Based Finance by End Users
- SME's
- Large Enterprises
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