The Impact of Changes in Financial Innovations Affecting Thai Financial Institutions in the 21st Century
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Abstract
Financial innovation provides significant opportunities for Thai financial institutions to expand and develop, but it also presents a challenge for financial institutions to address. Financial institutions that can adapt and successfully carry out innovation will gain a competitive advantage and achieve long-term growth. Robotic Process Automation (RPA) is an interesting financial innovation that will have an impact on Thai financial institutions in the 21st century. This academic article employed content analysis to explore the impacts of changes in financial innovations affecting Thai financial institutions in the 21st century. The study found that changes in financial innovation, particularly Robotic Process Automation (RPA), has an impact on Thai financial institutions in the 21st century by increasing work efficiency, lowering costs, improving service quality, creating new innovations, and adapting to the digital age. According to the findings, the adoption of Robotic Process Automation (RPA) in Thai financial institutions is a reasonable investment to improve the efficiency of the financial system. This is because, in addition to making financial institutions more competitive, it boosts overall economic growth.
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