Peer-to-Peer Lending Platform is a service provider or electronic network that acts as an intermediary to facilitate borrowing between borrowers and lenders. It matches those who wish to borrow money with those who are willing to lend, and also facilitates the processes of loan contracts creation, fund disbursement, repayment, and debt collection. This alternative enhances public access to credit with costs that are appropriate to the borrower’s risk profile and expands investment options. The Bank of Thailand mandates that entities aspiring to engage in this business must initially test their products and services within a limited scope under the Regulatory Sandbox. This ensures proper risk management and customer protection before they can apply for a license from the Ministry of Finance to operate on a broader scale.

Last updated on December 14, 2023

Note: A Regulatory Sandbox is an approach to testing and developing innovations that leverage new technology to support financial services. It allows financial service providers to test new technology-based services within a limited scope to promote financial innovation, while ensuring appropriate risk management and consumer protection measures are in place.