Technology
Thailand Launches 'Whispering Bird' AI Loan Initiative for SMEs
The Ministry of Finance has introduced an AI-driven credit assessment tool to help small businesses access loans using real-time sales data from the 'Thung Ngern' application.
According to Khaosod Online, the Thai Ministry of Finance has officially launched the 'Whispering Bird' (Nok Krasib) AI loan initiative. This program aims to bridge the financial gap for small and medium-sized enterprises (SMEs) that struggle to secure traditional bank loans due to a lack of formal financial documentation.
By integrating real-time sales data from the government’s 'Thung Ngern' application, the AI tool allows financial institutions to evaluate a business's actual revenue and growth potential. Deputy Prime Minister and Finance Minister Ekniti Nitithanprapas stated that the tool, which has been in operation for three months, also assists entrepreneurs in analyzing revenue trends and benchmarking their performance against similar businesses.
For residents and business owners in Thailand, this initiative may simplify the process of obtaining capital for expansion or operational stability. The Ministry is collaborating with major financial institutions and the Thai Credit Guarantee Corporation (TCG) to provide tailored loan products and guarantees. While the program is currently active, specific details regarding the full range of participating banks and the exact eligibility criteria for various business sectors remain to be confirmed by the Ministry of Finance as the project scales.