Ngern Tid Lor Public Company Limited, or TIDLOR, Managing Director Piyasak Ukritnukun, stated “In the past two-three years, the government sector has focused on credit loan business governance, particular in the non-bank sector, aiming to build standards in business operation as fair financial resources for the public.”
“Related official networks in accordance with the Office of the Consumer Protection Board (OCPB) have therefore adjusted some regulations such as debt follow-up process, accounting standards and control over hire purchase contracts and set interest rates.”
“As a result, many local small businesses experience the impacts on their production costs and complexity in doing businesses. Most importantly, credit business operations require a lot of information technology backup. However, the operations used by small entrepreneurs are inefficient to provide immediate change of business operations in accordance with government policies.”
“Nowadays, many companies are interested in the technology platform that Ngern Tid Lor developed to support its business operations. Somjai 2559 Company Limited, a motorcycle leasing business, is one of many enterprises selected as our first partner. I am impressed with the vision and profound expertise of the new generation of executives with plans to expand the business with fair principles and ideas to create sustainability for the motorcycle credit loan business.”
“While motorcycle credit loans may bring debt to Thai people, as a partner, Ngern Tid Lor is trusted to help leverage standards and strengthen fairness in conducting this type of credit loan process. Ngern Tid Lor is prompted to join forces in building the standard in accordance with the enterprise goal in promoting credit loan approval with responsibility.”
“As Ngern Tid Lor is an organisation with solid IT system development, the platform is our key to look for new opportunities to support business growth which in turn leads to new technology collaboration, particularly in credit loan business and insurance brokerage.”
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