MoneyThunder: Leading Online Lending App Wins Prime Minister’s Export Award 2024—Pioneering Innovations to Tackle Informal Debt

*This article is adapted from * Abacus Digital.

ABACUS digital has achieved a significant milestone as its 'MoneyThunder' application becomes the first online lending platform in Thailand to win the Prime Minister's Export Award 2024 in the Best Design category. This recognition underscores MoneyThunder's exceptional integration of advanced AI technologies with a user-centric design. By providing quick loan approvals, fair interest rates, and transparent access to funds, MoneyThunder empowers Thais to break free from the cycle of informal debt and effectively manage their finances, having committed to leading the way in creating opportunities for Thais.

Dr. Sutapa Amornvivat, Founding CEO of ABACUS digital, stated, 'We are proud that MoneyThunder has received the Prime Minister's Export Award 2024. This award reflects our commitment to leveraging financial technologies to address the financial challenges of Thais, especially those with limited access to credit such as small business owners and individuals with low credit scores. By utilizing alternative data, we can approve loans quickly and accurately with loan amounts ranging from 800 baht to 1,000,000 baht. Currently, we have up to 200,000 loan applications per month, and we maintain a non-performing loan ratio that is 2-3 times lower than the market, reflecting the strength of our business model. As a leader in digital lending, we will continue to develop new innovations to tackle the issue of informal debt and sustainably improve the lives of Thais.”

Leveraging 100% Thai-developed AI and a deep understanding of Thai financial challenges, MoneyThunder is designed to tackle the financial challenges effectively. It offers secure, convenient, and quick access to funds, coupled with personalized financial advice and flexible repayment plans. MoneyThunder is more than just a lending app; it's a catalyst for positive change in the lives of Thais. Over one-third of our customers have previously struggled with informal debt, and 30% have been denied credit by banks. With our transparent and accessible services, approximately 50% of our customers report an increased income after receiving funds from MoneyThunder, demonstrating our ability to foster financial stability and improve lives of Thais.

The Prime Minister's Export Award 2024 is a prestigious accolade presented by the Department of International Trade Promotion (DITP) under the Ministry of Commerce. Celebrating its 32nd year, the award aims to foster and support outstanding businesses that demonstrate innovation, technological advancement, and creative excellence, driving their success on the global stage. The theme for this year's award is "Forward and Beyond, The Power of Perfection: ก้าวล้ำสู่สากล สร้างพลังสู่ความสำเร็จ (stepping into the global arena, unleashing the power of success.)"

This recognition is a testament to ABACUS digital’s commitment to developing innovative financial technologies like MoneyThunder to enhance lending services, cater to the needs of the digital generation, and improve the lives of Thais.

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