of the policy makers and practitioners to find the right solutions for various groups of people. ladies and gentlemen, i truly believe that this seminar would allow an invaluable opportunity for us to learn how to solve these puzzles from honorable speakers who have come a long way to share with us their enriching experiences and lessons - learnt. the achievement of effective financial education and behavioral change would eventually drive the global community towards a more financial - literate and disciplined population who would help ensure sustainable growth and equality in our society. lastly, i wish the seminar a great success. i also wish to express my sincere appreciation for all of your endless efforts in promoting financial inclusion and financial literacy. thank you. bis central bankers ’ speeches

peer - to - peer lending platforms. these developments are results of our shared visions and collaborative efforts undertaken by all stakeholders to advance our digital finance ecosystem. these include thai banks ’ aim to reduce cash usage and payment cost, leading to collective investment in the new faster pay infrastructure ; banks ’ and non - banks ’ leveraging on the interoperability of our open infrastructure and common standards to compete and expand the range of products and services ; and regulators ’ and policy agencies ’ active roles in promoting financial innovations and digital adoption. fintech and digital finance have been and will continue to be among the top policy agenda of the bank of thailand. we need to further develop digital finance infrastructure, promote innovation, enable dynamic competition, and enhance adoption by the thai people and businesses. ladies and gentlemen, while technology advancement and technology adoption will remain crucial, there is another important aspect of financial services that we must not forget as we move on with our fintech agenda : the value of financial network. unlike other products and services, financial services will serve the people and the society best only when money — either in the form of physical cash or digital money — can freely flow without cost and friction. in today ’ s digital world, it is equally important that individuals and society can benefit from financial transaction data. therefore, preserving and strengthening the value of financial network will be imperative in advancing the development of our financial system. on the opposite end of a strong financial network is fragmentation, whereby financial systems and payment services become fragmented by the use of different core infrastructures or different standards that are controlled by a few dominant players. with different standards and core systems, financial transactions and data flows will face frictions, which will discourage competition, collaboration, and innovation. in the world of big tech, strengthening the value of our financial network is critical for a small economy like thailand, and it needs to be done so that our network remains dynamic and efficient, fostering an ecosystem conducive to innovation and competition. the nature of financial services requires that we emphasize on strengthening the value - added of our financial network. therefore, the transformation towards digital finance cannot be efforts of individual firms alone, and we need to focus on creating the digital finance ecosystem with active collaboration from a wide range of stakeholders. ladies and gentlemen, today i would like to take this opportunity to highlight four important principles that have underpinned our recent developments and will continue to guide our fintech agenda. these are principles that will strengthen the value of our financial network