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For many, describing having access to a bank account, a line of credit or an insurance policy as a luxury may seem surprising. But in developing nations, a significant proportion of the population often lack access to these basic financial tools.
In 2022, Macquarie estimated that 63 percent of Thailand’s adult population was either unbanked or underbanked. The impact of this is stark; when people can’t get financial support from mainstream organizations, they often fall prey to exploitative loan sharks.
For Pakamon Tulyapizitchai, Executive Vice President of Digital & Growth Architect (CDO) at Ngern Tid Lor (TIDLOR), addressing this malady is a driving mission.
“Deep down, our work is about helping reduce poverty and narrowing the gap between those who have access and those who do not. Thailand still has a meaningful divide and we believe digital tools can help make opportunity more accessible,” she tells The CEO Magazine.
TIDLOR is a vehicle title loan provider and non-life insurance broker serving underbanked customers through more than 1,900 branches, supported by a growing digital ecosystem designed to make financial services easier, faster and more accessible.
“Deep down, our work is about helping reduce poverty.”
Pakamon herself has been central to the company’s growth, winning plaudits for her contribution along the way.
“We built the brand from the ground up, from the logo to the user experience, interface and domain,” she says. “We stayed hands-on, learned quickly and worked with the hunger and discipline of a startup.
“We had an initial US$310,000 budget and since then we’ve done everything from scratch.”
Since Pakamon joined the company in 2018, she hasn’t been afraid to make bold decisions and has trusted her team to execute strategic pivots.
“When I joined, we made several important changes together. I may have helped set the direction, but the team’s ownership and ability to learn fast are what truly moved things forward,” she says.
She made the decision to open up TIDLOR’s digital platform to all – even those who weren’t yet customers.
“At the time, most financial service apps were designed mainly for existing customers. We wanted to take a different approach by allowing non-customers to download and use our application as well,” she explains.
“The idea was to give people access to useful financial information, help them understand our services and gradually build trust with the brand before they became customers.”
“The idea was to give people access to useful financial information, help them understand our services and gradually build trust with the brand.”
Pakamon’s decision to champion wider access has not only been beneficial in terms of social impact, but has also improved business outcomes.
“We found that many non-customers who engaged with the app converted into customers within 30 days, turning the app into an important acquisition channel as well as a service platform,” she reveals.
“When we launched, we set a modest target of 50,000 downloads because we were not sure how ready customers would be. But the COVID-19 pandemic accelerated digital adoption and today the app has reached 4.5 million downloads.”
Pakamon explains that the greater adoption of the app has allowed the organization to gauge a better understanding of customer habits and provide more services that improve the customer experience.
“We have really focused on using the app to lower costs and provide better services to the customer,” she says. “Now customers can withdraw money from the app.
“Previously, customers with revolving loans still needed an ATM card and had to visit an ATM, which could be inconvenient. So we launched a feature that allows them to transfer money securely from the app to their own bank account first. From there, they can transfer it to their family or anyone they choose, anytime, anywhere.”
TIDLOR also provides underbanked customers with more accessible insurance through its branch network, including cash installment payments for motor insurance without requiring a credit card. Separately, heygoody.com serves upper-mass, digitally savvy customers who prefer to compare and buy insurance online with transparency and without telesales pressure.
“We serve micro insurance to our customers as well, making it affordable,” Pakamon adds. “Previously, installment plans for motor insurance were usually only available to credit card holders. We were the first in Thailand to introduce cash installment payments for motor insurance, allowing customers to pay over 10 months without interest.
“Customers can come to our branch, purchase the insurance and then they can pay us across 10 months, without interest.”
This feeds into the greater goal of providing customers with more personalized, convenient financial services.
“We already have the capabilities to connect to more than 15 insurers,” she says. “When you come to our branches we can provide a variety of options to fit the coverage that you need and which fit your lifestyle best.”
Reflecting on historic industry practices, Pakamon says that before heygoody.com, the experience of buying insurance was unpleasant and characterized by telesales out of call centers relentlessly pestering customers to renew their plans.
“We introduced a new way that was based on the conviction that insurance should not be difficult and should not be intimidating,” she explains. “It should provide peace of mind and be comfortable.”
“Over the next three-to-five years, our goal is to make our services accessible to as many people as possible.”
A central part of achieving this has been ensuring that its digital infrastructure provided a smooth and painless user experience.
“I always tell my team that a digital platform must be clear enough to educate, guide and earn trust – almost like a good salesperson,” she says. “If customers understand the product and feel confident, they are more willing to buy.”
With the collaboration of key partners such as Arise IDC, Pakamon sees the impressive growth heygoody.com has achieved continuing exponentially.
“Heygoody.com has grown rapidly since launch. In 2025, the platform grew around three times compared with 2024, and around 10 times compared with its first year of operation,” she says.
“Over the next three-to-five years, our goal is to make our services accessible to as many people as possible. Partnerships will be a key part of that growth, helping us scale faster and reach customers through more channels across Thailand.
“For me, TIDLOR and heygoody.com are connected by the same mission. TIDLOR gives customers easier access to money when they need it, while heygoody.com makes insurance easier to understand and less stressful to buy. Both are about giving customers more confidence and making their lives better.”
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