General Information

Population

71M

61M

THB

Market overview

Population - 71M

Thailand was home to 52.2M social media users in January 2023.

Internet penetration - 85.3%

There were 61.2M internet users in Thailand in January 2023.

FinTech Outlook: Trends, Insight & Technology

Thailand has a small and nascent startup ecosystem that’s mostly made up of early-stage ventures focusing on product development as well as securing their first group of customers. There **are 341 FinTech startups** in Thailand.

The **Thai FinTech Association** is an organisation that draws together companies for the development of FinTech in the Kingdom of Thailand, and beyond.

Banks

Thailand’s financial landscape is dominated by the banking sector, which is composed of both domestic and foreign banks. There are currently 34 domestic commercial banks, 16 foreign bank branches, and 23 representative offices operating in the country.

<aside> 💡 ‘Big four’ banks:

1. [Bangkok Bank](https://www.bangkokbank.com/en/About-Us#:~:text=Bangkok Bank is a leading,a large retail customer base.)
2. [Siam Commercial Bank](https://www.scb.co.th/en/about-us.html#:~:text=days until today-,About SCB,in Thailand%2C developing deep expertise.)
3. Kasikornbank
4. Krungthai Bank </aside>

Digital banks