Bangkok: OR and its partners, KTB and AIS, are set to propel the Virtual Bank sector forward following the approval to establish a branchless commercial bank. M.L. Pikkthong Thongyai, CEO of PTT Oil and Retail Business Public Company Limited (OR), announced that the partnership with Krungthai Bank Public Company Limited and Advanced Info Service Public Company Limited has received the green light from the Minister of Finance as of June 19, 2025. The collaboration aims to harness the strengths of its partners in finance, telecommunications, and retail, ensuring readiness in data, technology, and a robust service channel network. This strategic move is expected to enable OR to develop financial products tailored to both B2C and B2B consumers, utilizing its extensive network of over 2,500 PTT Stations and more than 4,000 Caf© Amazons.
According to Thai News Agency, Mr. Phakorn Suriyabhivadh, Deputy Chief Digital Business and Solution Officer at OR, emphasized that the Virtual Bank initiative is central to OR's strategy to boost its digital business. By leveraging a large database and modern technology, OR aims to enhance its business and expand its customer network through partnerships, aligning with the Bank of Thailand's policy goals for Inclusive Financing.
Mr. Somchai Lertsuttiwong, CEO of AIS, highlighted that the Virtual Bank remains a key component of AIS's strategy to establish a new ecosystem extending from the telecommunications sector. The initiative is designed to use technological advancements to introduce new digital services, enabling widespread access to financial and digital opportunities for Thai citizens. He expressed strong belief in the strategic alliance among the three companies, which will advance the Virtual Bank business by drawing on the strengths of financial, telecommunications, and retail systems. AIS, with a customer base exceeding 50 million, is confident in its ability to meet diverse consumer needs, thereby enhancing access to comprehensive financial services and contributing to the future digital financial infrastructure of Thailand.