Wealthi aims to achieve “No Poverty” and “Reduced Inequalities” under the Sustainable Development Goals (SDG) through the financial inclusion. In 2016, Thai government has started a welfare program aiming to help the poor. More than 14 million people has signed up.

One of the critical issues for the poverty trap is the inability of the underserved to access the formal funding source in time when they have immediate funding needs because of the lack of the traditional data e.g. pay slip, credit bureau data to be used in the credit approval process. Hence, they have to depend on the high-cost (at >200% p.a.) informal loan sources.

Financial inclusion will solve this poverty issue so Wealthi develops a mobile application to help underserved low-income people gain access to financial services by applying Big Data and Machine Learning (ML) to analyze their traditional (e.g. socio-demographics) and alternative data (e.g. mobile usage).

Wealthi, a mobile application platform to help underserved low-income people gain access to financial resources by applying Big Data and Machine Learning (ML), innovates the credit scoring algorithm by applying alternative data (e.g. mobile phone usage data) with traditional scorecard (e.g. socio-demographics) to deliver the following values:

1) Funding accessibility anywhere and anytime through mobile phone

2) Fast approval process through machine learning

3) No cost to get funds e.g. no traveling cost, no document preparation cost.

4) Provide an affordable and reasonable loans, so they can finally escape from the high-cost informal loan sharks.

5) Build their own credit profile to get access to the formal bank loans.

6) High reliability through the finance license

Through Wealthi mobile application, underserved people just fill in the required data. The application will show the result of credit approval analyzed by our proprietary credit scoring model. The customer is required to submit other documents before the funds to be transferred to them.  The whole process takes less than 24 hours with no cost to the underserved people.

Wealthi’s critical social impact is to lower the financial burden, improve well-beings of the underserved and reduce inequalities. Wealthi’s interest rate at 36% p.a. is almost 4x lower than the 120% p.a. interest rate of informal loan. Over the next 5 years, Wealthi will acquire about 240,000 customers with total loan value of $24 million which will lower the social cost in the forms of funding cost for the underserved by $20.16 million per year.

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There are many innovation platforms all over the world. What makes Thailand Social Innovation Platform unique is that we have created a Thai platform fully dedicated to the SDGs, where social innovators in Thailand can access a unique eco system of entrepreneurs, corporations, start-ups, universities, foundations, non-profits, investors, etc. This platform thus seeks to strengthen the social innovation ecosystem in Thailand in order to better be able to achieve the SDGs. Even though a lot of great work within the field of social innovation in Thailand is already happening, the area lacks a central organizing entity that can successfully engage and unify the disparate social innovation initiatives taking place in the country.

This innovation platform guides you through innovative projects in Thailand, which address the SDGs. It furthermore presents how these projects are addressing the SDGs.

Aside from mapping cutting-edge innovation in Thailand, this platform aims to help businesses, entrepreneurs, governments, students, universities, investors and others to connect with new partners, projects and markets to foster more partnerships for the SDGs and a greener and fairer world by 2030.

The ultimate goal of the platform is to create a space for people and businesses in Thailand with an interest in social innovation to visit on a regular basis whether they are looking for inspiration, new partnerships, ideas for school projects, or something else.

We are constantly on the lookout for more outstanding social innovation projects in Thailand. Please help us out and submit your own or your favorite solutions here

Read more

  • What are The Sustainable Development Goals?
  • UNDP and TSIP’s Principles Of Innovation
  • What are The Sustainable Development Goals?


United Nations Development Programme
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Mail. info.thailand@undp.org
Tel. +66 (0)63 919 8779