Thailand’s FinTech Revolution: Disruption, Innovation or Both? | 27 September 2017

DFDL Pursues FinTech Agenda

In the spirit of DFDL tradition, we are currently paving the frontier of innovative legal services by strategically positioning ourselves as a regulatory expert in the field disruptive technologies (i.e. financial technologies, cryptocurrencies) that intend to shake-up long established business practices in the region. Based off the momentum created by a successful seminar on BitCoin and cryptocurrencies last month, regional DFDL advisers, Vinay Ahuja and Kunal Sachdev, conducted an intimate breakfast session on financial technology (“FinTech”) on 27 September 2017.

Why FinTech for DFDL? Simple. Asia-Pacific received a total of US$14.8bn in investments last year. Thailand and other DFDL jurisdictions are each developing their own FinTech ecosystems to meet domestic needs. The ASEAN region itself has the potential and the resources to become a giant in the FinTech domain. With this impetus, the governments and private sectors in Asia are offering a range of tax and non-tax incentives in order to lure and encourage startups to establish within the ASEAN region rather than in Silicon Valley.

With DFDL’s strategy in mind, Vinay and Kunal recently presented their seminar, Thailand’s FinTech Revolution: Disruption, Innovation or Both, to a mixed audience of lawyers, financial professionals, startup representatives and other interested parties. The content of the seminar included a previously unheard history of FinTech and carefully dissected the regulatory aspects of the latest trends in FinTech that would affect our individual and corporate clients. Both speakers were put on the spot by the audience to provide detailed in-depth knowledge on a range of subjects related to FinTech.

The event was capped off with a speech by DFDL’s Managing Partner, Martin Desautels. Martin commented on the importance of FinTech and how this fits in with DFDL’s strategic vision for the future.

If you are interested in FinTech or require further information regarding DFDL’s capabilities in this sector, please contact joseph.willan@dfdl.com.

We look forward to keeping you updated on our latest endeavors in the FinTech arena.

The age-old practices of signing cheques, issuing money drafts, and transacting in notes and coins may soon be a thing of the past, with a full range of financial services only as far away as your smartphone.

Does the rapid rise of financial technology represent a paradigm shift in traditional banking practices? And what do the regulators think? Do they view it as essential innovation, a disruption to established practice – or a mix of both?

In this breakfast seminar, the topics discussed are;

The world of smartphone applications Vs. conventional banking institutions;
Thailand as a leader in the ASEAN’s Fin Tech ecosystem
Are Governments and policy makers on the right path? – A regulatory perspective.
All not good: Risks for stability, integrity and market conduct; and This is a new beginning; Things will change – So what’s next?

Agenda: