News Detail

Date/Time
08 Jul 2021 14:00:00
Headline
SET News : SET and LED jointly develop digital platform to make LED's database accessible for entrepreneurs
Symbol
SET
Source
SET
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                                                                             JOINT RELEASE

                                                             SET News 50/2021
                                                             July 8, 2021

SET and LED jointly develop digital platform to make LED's database accessible 
for entrepreneurs

BANGKOK, July 8, 2021- The Stock Exchange of Thailand (SET)'s subsidiary Digital
Access Platform Co., Ltd. (DAP) has recently signed a memorandum of
understanding (MoU) with the Legal Execution Department (LED) to develop an
integrated portal service system to enable business operators to access to LED's
database to track and verify user's data before proceeding legal binding or
financial transaction. The move, in line with the digital government strategy,
aims to increase efficiency of service users' data, while making it more
convenient, faster, and more efficient in asset execution on this central
digital platform, as well as streamlining operations at a lower cost to assist
entrepreneurs.

SET President Pakorn Peetathawatchai said that DAP, a company under the SET 
group, has a key mission to develop the capital market infrastructure and
provide end-to-end digital gateway service to facilitate digital transactions
for both non- and capital market operators. This recent MoU with LED is an
initiative to develop the central digital platform connecting to LED's database
of the list of individuals whose assets are under receivership process or those
going bankrupt. In accordance with the digital government policy framework, the
effort aims to increase efficiency in data verification of service users before
starting legal binding or processing financial transactions. The procedure and
transaction time will be shortened, while simultaneously going paperless is part
 of the overall scheme to save the environment towards sustainability.

Currently, DAP has initiated three digital services to link the government 
agencies with entrepreneurs, consisting of ID verification service with the
Department of Provincial Administration; electronic stamp duty service in
collaboration with the Revenue Department; and name screening service against
money laundering risks with the Anti-Money Laundering Office, available for 23
service users. DAP's main goal is to connect with other government and
regulatory agencies to ease financial burdens via innovative infrastructure
development for entrepreneurs in the capital market, while boosting confidence
in conducting transactions and verifying digital information among business
operators, customers, and relevant parties, in  accordance with the government's
 policy to facilitate the ease of doing business.

Interested entrepreneurs can apply to access the new digital service or contact 
for more details at Capital Market Utility Department via email: dap@set.or.th.

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