The Securities and Exchange Commission (SEC) plans to become a data-driven organisation, integrating big data to enhance efficiency for capital market supervision while keeping pace with digital disruption.
Ruenvadee Suwanmongkol, secretary-general of the SEC, said the commission has collected, screened and analysed big data, which are complex data sets that are difficult to process using traditional methods. The goal is to achieve maximum efficiency in monitoring and governing the capital market, detecting risks and illegal activity.
Moreover, big data will be used to formulate policies in promoting a data-driven organisational culture that will lead to effective policy implementation and drive the Thai capital market towards sustainability, she said.
By taking advantage of big data, the regulator can monitor the industry and manage systemic risk for investors, business operators and the infrastructure of the capital market.
Using information sent from business operators, the SEC can analyse the overall picture to detect signs of risk, unusual stock price movements and debenture defaults, said Ms Ruenvadee.
Big data also enables e-enforcement, allowing the SEC swifter detection and prevention of illegal activity in the capital market by using artificial intelligence (AI) and other modern technologies.
There are three tools used for e-enforcement. The first is AI-enforcement, helping to expose illegal activity by profiling a suspect's unusual behaviour.
The second is corporate surveillance, which screens and uncovers irregular financial transactions, including those that may be improper.
The third is E-link, which verifies interpersonal relationships between transacting parties by drawing information from large databases, such as financial directories.
In addition, infrastructure data can be linked from both inside and outside the SEC, reducing the amount of work to drive efficiency, she said.
The SEC also plans to provide an open database for all businesses and organisations to use for research, said Ms Ruenvadee.
The regulator wants to promote innovation in the capital market and drive it towards sustainability, she said.