Fynnet Ventures: NETbay's Launching CHECK+ Digital Identity Platform for Financial Institutions & Regulated Businesses
Last updated: 12 Jun 2025
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NETbay Launches Fynnet Ventures: Powering Digital Identity with CHECK+ for Financial Institutions and Regulated Businesses
NETbay Public Company Limited (NETbay), a leading provider of document management technology services, has announced the establishment of its new subsidiary, Fynnet Ventures. This strategic move is set to develop and expand the CHECK+ platform, a cutting-edge digital identity verification solution aimed at financial institutions and entities requiring robust identity authentication. This initiative is expected to become a significant new revenue stream for the parent company.
Ms. Kobkarnchana Veerapongpradit, CEO of NETbay, revealed that 2025 marks a pivotal year for the company as it shifts towards an "inorganic growth" strategy. This involves collaborating with partners to explore new opportunities, leveraging NETbay's existing strengths. Historically, NETbay's primary revenue, accounting for 90% of its total, has come from recurring services via its enterprise platforms, such as data exchange for import-export operations.
Strategic Partnerships and New Ventures
A key alliance includes Ditto (Thailand) PCL (DITTO), TEAM G Consulting Engineering and Management PCL (TEAMG), and SITEM Corporation Co., Ltd. (SITEM). This collaboration will merge their respective strengths and customer bases, with a new joint venture company expected to be formalized in 2025.
This new joint venture will focus on developing a platform to provide credit solutions to auto repair shops. Recognizing that repair shops often need to complete work before receiving payment from insurance companies, this platform will bridge that gap. By combining strengths such as insurance data and advanced processing, the venture aims to build trust with funding sources for SME auto repair shops. Overall, this new venture targets a 10-15% revenue growth for 2025.
NETbay's Five-Axis Growth Strategy
1.Organic Growth: Expanding from the existing recurring revenue base.
Innovation: Developing new products and fostering innovation.
2.Partnership Growth: Collaborating with business partners.
3.Solution Partnership: Growing through alliances with solution providers.
4.Inorganic Growth: Pursuing future projects and strategic acquisitions.
5.NETbay's Subsidiaries: Cloud Creation and Fynnet Ventures
Currently, NETbay operates two wholly-owned subsidiaries: Cloud Creation Co., Ltd. and Fynnet Ventures Co., Ltd.
Cloud Creation specializes in providing a Gateway data management system that facilitates electronic transaction reporting between financial institutions, businesses under Article 16 of relevant regulations, and the Anti-Money Laundering Office (AMLO). This system primarily supports compliance with anti-money laundering laws.
Ms. Sansanee Taksasiri, Deputy Managing Director of Fynnet Ventures Co., Ltd., stated that Fynnet will focus on delivering a comprehensive digital platform under the concept of "Enhance Business with Smart Compliance Solution." The flagship platform, CHECK+, represents an advancement with new features beyond the existing CDD Gateway platform. It is designed to serve financial institutions, businesses regulated under Article 16, and other enterprises seeking to integrate IT compliance to enhance efficiency, elevate operational standards, and ensure legal adherence.
In 2025, Fynnet plans to specifically expand its services to businesses operating under Article 16, including financial institutions and other relevant groups.
Source: https://www.prachachat.net/ict/news-1711114
NETbay Public Company Limited (NETbay), a leading provider of document management technology services, has announced the establishment of its new subsidiary, Fynnet Ventures. This strategic move is set to develop and expand the CHECK+ platform, a cutting-edge digital identity verification solution aimed at financial institutions and entities requiring robust identity authentication. This initiative is expected to become a significant new revenue stream for the parent company.
Ms. Kobkarnchana Veerapongpradit, CEO of NETbay, revealed that 2025 marks a pivotal year for the company as it shifts towards an "inorganic growth" strategy. This involves collaborating with partners to explore new opportunities, leveraging NETbay's existing strengths. Historically, NETbay's primary revenue, accounting for 90% of its total, has come from recurring services via its enterprise platforms, such as data exchange for import-export operations.
Strategic Partnerships and New Ventures
A key alliance includes Ditto (Thailand) PCL (DITTO), TEAM G Consulting Engineering and Management PCL (TEAMG), and SITEM Corporation Co., Ltd. (SITEM). This collaboration will merge their respective strengths and customer bases, with a new joint venture company expected to be formalized in 2025.
This new joint venture will focus on developing a platform to provide credit solutions to auto repair shops. Recognizing that repair shops often need to complete work before receiving payment from insurance companies, this platform will bridge that gap. By combining strengths such as insurance data and advanced processing, the venture aims to build trust with funding sources for SME auto repair shops. Overall, this new venture targets a 10-15% revenue growth for 2025.
NETbay's Five-Axis Growth Strategy
1.Organic Growth: Expanding from the existing recurring revenue base.
Innovation: Developing new products and fostering innovation.
2.Partnership Growth: Collaborating with business partners.
3.Solution Partnership: Growing through alliances with solution providers.
4.Inorganic Growth: Pursuing future projects and strategic acquisitions.
5.NETbay's Subsidiaries: Cloud Creation and Fynnet Ventures
Currently, NETbay operates two wholly-owned subsidiaries: Cloud Creation Co., Ltd. and Fynnet Ventures Co., Ltd.
Cloud Creation specializes in providing a Gateway data management system that facilitates electronic transaction reporting between financial institutions, businesses under Article 16 of relevant regulations, and the Anti-Money Laundering Office (AMLO). This system primarily supports compliance with anti-money laundering laws.
Ms. Sansanee Taksasiri, Deputy Managing Director of Fynnet Ventures Co., Ltd., stated that Fynnet will focus on delivering a comprehensive digital platform under the concept of "Enhance Business with Smart Compliance Solution." The flagship platform, CHECK+, represents an advancement with new features beyond the existing CDD Gateway platform. It is designed to serve financial institutions, businesses regulated under Article 16, and other enterprises seeking to integrate IT compliance to enhance efficiency, elevate operational standards, and ensure legal adherence.
In 2025, Fynnet plans to specifically expand its services to businesses operating under Article 16, including financial institutions and other relevant groups.
Source: https://www.prachachat.net/ict/news-1711114
