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Remolona rallies banking elite for financial inclusion at BSP Bankers' Night

Business | Banking & Finance

Remolona rallies banking elite for financial inclusion at BSP Bankers' Night

By Manila Bulletin

The Bangko Sentral ng Pilipinas (BSP) urges banks to prioritize digitalization and financial inclusion to boost economic growth.

This call by BSP Governor Eli M. Remolona Jr. to action came during the annual bankers' night held last Friday, Jan. 10, which was attended by key figures in the banking industry, including prominent businessmen like Jaime Augusto Zobel de Ayala, Erramon Aboitiz, and siblings Hans Sy and Tessie Sy-Coson.

During his address, Remolona noted the importance of digitalization and financial inclusion in ensuring that Filipinos have access to financial services that best suit their needs.

He also cited the need to intensify efforts on Open Finance, which allows consumers to share their financial data with other financial institutions, promoting competition and innovation in the market.

“Let us continue working together on digitalization and financial inclusion," Remolona said. "Let’s also intensify our efforts on Open Finance to ensure that people can chose financial services that best suit their needs.”

Remolona expressed his confidence in the banking industry's commitment to these goals, noting, "Having worked with many of you over the years, I know that we share the same goals, and we share the same drive to make the banking industry a stronger engine for jobs and growth for the Filipino people."

The governor also acknowledged the achievements of the BSP in 2024, including a credit rating upgrade from S&P, the launch of the IRS peso market, and the implementation of the Financial Services Cyber Resilience Plan.

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Bangko Sentral ng Pilipinas (BSP) BSP Governor Eli M. Remolona Jr.

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