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.