Helping you improve quality of your life!
We are on a purpose driven mission to enable fair finance for the underserved communities in Thailand and Greater Mekong sub region. We will do this through a digital ecosystem which will enable these communities to seamlessly connect, learn and interact.
We are a for profit organisation, doing business with the highest amount of integrity and fairness. We strive to improve lives through knowledge. Thus our core values are: Integrity, Fairness and Learning.
We have developed an end to end digital lending platform underpinned by alternative data and AI/ML credit scoring methods and world class infrastructure technologies
Lyn has over 30 years of banking experience, across 9 countries. Her last posting was as President & CEO of Standard Chartered Bank (Thailand) from which she oversaw 5 countries, ie. CLMV and Thailand. A passion to make a difference, she has initiated market entry into several new markets and products for Standard Chartered Bank. More recently she is an investor and advisor to several tech starts ups.
Ray has 30+ years experience in consumer lending. Ray worked at American Express, Standard Chartered Bank and GE Capital's consumer business. At both GE Capital and Standard Chartered, Ray was Global Chief Risk Officer. More recently he is CRO with Octane Lending, a disruptive power sports financier in the USA.
Mark has over 30+ years experience in consumer lending risk. He has served as Standard Chartered Bank Global Chief Operating Officer, Consumer Banking Risk. Previously, as Senior Vice President at Morgan Stanley/Discover, he oversaw collection operations, authorization risk and fraud strategy across a multi-billion dollar credit card portfolio. He has also spent more than 20 years at General Electric, his last posting as Chief Risk Officer, Asia.
Phisit has over 25 years of experience in financial services sector, with focused expertise in IT systems and transactional banking products at IBM, Citibank, JP Morgan, Standard Chartered and CIMB. At Citibank and JP Morgan, Phisit coverage expanded across Asia Pacific and most latterly, Phisit had a management role as Head of Transaction Banking Group at CIMB (Thai) and Head of Cash Management Services at Standard Chartered Bank (Thai).
Jarumanee (Cherry) has over 20 years of banking experience. After obtaining MBA from Darden School of Business, University of Virginia under BOT scholarship, she spent 7.5 years in Reserve and Risk Management at BOT. In the last 13 years, Jarumanee experience span covers corporate and business strategy and planning both at Standard Chartered and Siam Commercial Bank, covering all segments including retail, SME and corporate. She was also the project lead for Standard Chartered's Financial Crime Risk Mitigation Programme in Thailand, Myanmar, Laos & Cambodia.
Bruce has close to 30 years of retail banking experience, including 16 years in retail risk management. Bruce has worked across 3 geographies, with Standard Chartered Bank, Citibank and American Express. His expertise are in areas of risk data analytics, risk management and collections strategies. Most recently Bruce was at UOB (Thailand) where as Head of Risk and Decision Management, he was responsible for performing analysis, segmentation and modelling for the retail and SME lending portfolios, which included leveraging internal big data and third party data sources to maximize opportunity for predictive risk decisions.
Ittichai (Itt) was most recently a strategic investment manager at Siam Commercial Bank. A graduate of University of Chicago with a Masters of Science, Financial Mathematics and Thammasat University, Itt, a talent for Siam Commercial Bank has spent the last 9 years in various roles, starting as a management trainee at Siam Commercial Bank.
Banphot Hongthong is a businessperson who has been at the head of 5 different companies. Currently, Mr. Hongthong holds the position of Chairman for Exotic Food Public Co. Ltd., Chairman at Dhipaya Life Assurance Public Co. Ltd. and Chairman for Chumporn Palm Oil Industry Public Co. Ltd. In the past Mr. Hongthong held the position of President at Royal Automobile Association of Thailand, Member of National Legislative Assembly, Independent Board member of Standard Chartered Bank (Thai) Public Co. Ltd., Director General-Export Promotion Department and Intellectual Property Department at Thailand Ministry of Commerce, Director General of Office of Insurance Commission, Director-Renovation Project at Thai Pueng Thai Foundation and Member of Rajamangala University of Technology Isan. Mr. Hongthong received an undergraduate degree and a graduate degree from Northeastern University.
Simon Gerovich is currently Chairman of Red Planet Hotels and previously founded Evolution Capital PLC, a real estate private equity firm listed on the Stock Exchange of Thailand. Simon is also Founding Partner of MMXX Capital Limited, a digital asset investment management firm. Simon has been active in private equity and real estate ventures in South East Asia and in this regard he served on the boards of several listed public companies in Japan and Thailand. Being a fluent Chinese and Japanese speaker, he has spent his entire professional career in Asia. Simon was formerly an Equity Derivatives Trader at Goldman Sachs in Tokyo from 2000 to 2005. He graduated with a BA, cum laude, in Applied Mathematics from Harvard University in 2000.
Keng Teik Koay is Chief Financial Officer of BasisAI, a leading artificial intelligence company in the region, funded by Temasek and Sequoia, where he is responsible for fund raising, finance operations, business development and investor relations. Before joining BasisAI, he was the CFO at JustCo, a leading co-working company in Asia with 40 co-working sites in 7 countries, where he helped JustCo to raise US$250M funding from GIC, Frasers Property and Daito Trust, and spearheaded its geographic expansion from 3 countries to 7 markets. Prior to this, Keng had an investment banking and management consulting career spanning more than 15 years. He was Managing Director with Standard Chartered Bank, responsible for origination and execution of M&A and capital market transactions for financial institutions in the region. Keng had also held senior roles with Bain & Company, Boston Consulting Group and Credit Suisse. He was also previously an important member of the founding team of Growasia.com; Asia’s first on-line investment bank.
Keng Teik holds a MBA from Columbia University, New York, a Master of Science in Economics and Bachelor of Science in Economics from London School of Economics and Political Science, UK
Ashish Sharma has over 20 years of experience in financial services and management consulting across several functions and geographies including the US, Singapore, Thailand, Vietnam and Indonesia. Ashish’s prior experience includes Strategy Consulting at McKinsey & Company and equity research at Sanford Bernstein and TIG Advisors. More recently, he was head of Commercial Banking in Thailand for Standard Chartered Bank and Head of Transformation at Techcombank (Vietnam) . Ashish holds an MBA in Finance from New York University Stern School of Business and a BS in computer science from Massachusetts Institute of Technology.
WHAT DOES MULA-X HOLDING (THAILAND) CO., LTD. (“MULA-X”)
DO WITH YOUR PERSONAL INFORMATION?
In providing service, companies will need to share your personal information. Thailand Personal Data Privacy Act of 2019 gives consumers the right to limit some but not all sharing. The law also requires us to tell you how we collect, share, and protect your personal information. Please read this notice carefully to understand what we do.
Why do we collect information?
Any of the information we collect from you may be used in one of the following ways:
To personalize your experience (your information helps us to better respond to your individual needs)
To improve our MULA App (we continually strive to improve our App offerings based on the information and feedback we receive from you)
To improve customer service (your information helps us to more effectively respond to your customer service requests and support needs)
To process transactions
To administer a contest, promotion, survey or other site feature
To send periodic notifications and information
Personal data we collect and share may include both information you provide and/or give consent for a third party to provide, including:
§ Data on national identification card
§ Account balances, payment history and transaction history
§ Service usage data, such as data from mobile phone usage
§ Personal scores and answers from psychometric questionnaire
§ Other information you’ve filled out as part of application process
Note: For sensitive data, which is personal information regarding racial or ethnic origin, political opinions, religious or philosophical beliefs, criminal records, trade union memberships, biometric data, health records and sexual orientation or preferences, will be removed immediately if it is not required.
All companies servicing customers need to share customers’ personal information in their normal operations. In the section below, we list the reasons the purposes companies can share their customers’ personal information and whether you can limit this sharing. In addition, there are certain rights you should be aware of under PDPA.
To render the service to you, as the Data Subject, under MULA-X Application (“MULA App”), we, as the Data Controller/Data Processor, disclose your personal information strictly under consent to its employees, its representatives, auditors, and external service providers under a contract with the Company, and Data Processors. Ie. GDS Link Asia Philippines Inc., 2C2P (Thailand) Co., Ltd., Sigma Infosolutions Limited (“Lendfoundry”), Oozou Limited, Credolab (Pte) Ltd, Innovative Assessments International, Ltd, Amazon Web Services, Appman Company Limited.
In addition, information disclosure may be required by the governmental agencies in accordance to the laws or government announcement. In such case, we will need to strictly obliged no matter consent is in place or not.
TYPE OF CONSENTS AND IF YOU CAN LIMIT SHARING?
Reasons to share personal information
Consent to manage personal data
To allow MULA-X to collect, process, share and cross-border transfer your personal information required for delivering service to you.
Can you limit this consent while receiving service from MULA-X? NO.
MULA-X can’t provide service to customers unless there in “consent to manage personal data” in place
Consent to use personal data for product development
To allow MULA-X to use your personal information to develop and/or improve products and/or services that are better and suitable to your need
Can you limit this consent while receiving service from MULA-X? YES.
Consent to use personal data for marketing purpose
To allow MULA-X to use your personal information to communicate and notify you when there is right promotion or marketing campaign that may fit your need
Can you limit this consent while receiving service from MULA-X? YES.
Consent to use personal data for credit modeling
To allow MULA-X to use your personal information to develop and improve its credit scoring model
Can you limit this consent while receiving service from MULA-X? YES.
How to limit sharing?
You can limit or revoke personal data consents outlined above by going into “Information” in MULA-X Application (“MULA App”). After you limit or revoke the consents, the system will update your requests, and the usage of your personal information for such purpose will be disbanned immediately.
If you are using MULA-X services and application, you may not limit or revoke “Consent to Manage Personal Data.” An action to limit or revoke this consent will disable your eligibility to receive further service. In the case you still have a loan outstanding, you cannot revoke “Consent to Manage Personal Data”.
HOW DO WE MANAGE CUSTOMER’S PERSONAL INFORMATION
How do we collect your information?
MULA-X collects your information required to render our service from three main sources:
1) Personal information provided by yourself, either through electronic capturing (e.g. using OCR technology to capture information on national identification card) or key-in information by yourself as part of application process
2) Transactional information obtained from your past transactions and historical activities on MULA-X Application
3) Information provided by 3rd parties such as service usage data, including data from mobile phone usage and personal scores and answers from psychometric questionnaire.
What information do we collect?
We collect information from you when you visit our app, register on our site, place an order, subscribe to our newsletter, respond to a survey or fill out a form.
We also collect information from mobile devices for a better user experience, although these features are completely optional:
Note: We have clear data life cycle for each type of information we collect. We will detain the information only during the required period, after which the information will be destroyed.
How do we share your information?
At MULA-X, data is shared only on need based and strict guideline. We use highly secured API technology for date transmission with a strong authentication and data encryption.
How do we store your information?
At MULA-X, we use cloud-based data warehouse of Amazon Web Service (“AWS”) in Singapore, where the standard of personal data protection maybe different from Thailand. We have obtained your consent to cross-border transfer your data to AWS data warehouse with proper data security measures. MULA-X has agreed on the standard with AWS to set petition and firewall to ensure data security.
How Long Do We Keep Your Information?
We keep your information only so long as we need it to provide MULA App services to you and fulfill the purposes described in this policy. This is also the case for anyone that we share your information with and who carries out services on our behalf. When we no longer need to use your information and there is no need for us to keep it to comply with our legal or regulatory obligations, we will either remove it from our systems or depersonalize it so that we can't identify you.
CUSTOMER’S RIGHTS AND PROTECTION
Data Subject's Rights
Under Thailand Personal Data Protection Act of 2019 (“PDPA”), you as the data subject have the following rights related to your personal information:
§ Right to access: Data subjects have a right to access and obtain a copy of their personal data from controllers and processors.
§ Right to information: Data subjects have a right to receive their personal data from controllers and processors in a readable format.
§ Right to object: Data subjects will have a right to object when their data is collected without fulfilling the consent requirements, or is being processed for direct marketing purposes, or is being processed for scientific, historical or statistical research purposes. There are exceptions that controllers and processors can rely on, such as the objection of the data subject can be overruled where the processing is necessary for public interest reasons.
§ Right to erasure: Data subjects have a right to erasure available where the data of the data subjects must be deleted by the controller or processor if the data subjects withdraw their consent, or where data is no longer necessary for the purpose it was collected or processed for, or where data was collected unlawfully.
§ Right to restriction of processing: Data subjects also have a right to request the restriction of the use of personal data.
§ Right to rectification: Data subjects have a right to request the rectification of their inaccurate data and have incomplete data stored about themselves completed.
§ Right to data portability: Data subjects also have a right to request that data transmitted from one controller to another is in a readable format and can be used or disclosed by automatic means.
How do we handle a breach?
At MULA-X, we have assigned Khun Phisit Sucharitsopit, our Chief Information Officer as Data Protection Officer (“DPO”). Under our philosophy, we want to take proactive role to continuously review our Personal Data Protection Policy to ensure that customer’s information is always managed with highest security. In case there is any breach or potential issue, DPO will take immediate action to resolve the issue and report to the government within 72 hours.
Via Email: firstname.lastname@example.org
Via MULA App: “Support” Quick Access
Sale of or Reorganisation of Business
The laws of Thailand, excluding its conflicts of law rules, shall govern this Agreement and your use of the MULA App.