The Bangko Sentral ng Pilipinas (BSP) is launching an Online Customer Satisfaction Survey (O-CSS) to better provide digitalized services to all its supervised financial institutions such as banks, pawnshops, and money service business (MSB). “In line with the thrust of the BSP to provide...
New bank applicants that are proposing to operate business models that looked like digital banks will be approved as digital banks, according to a Bangko Sentral ng Pilipinas (BSP) memo released on Tuesday clarifying the new circular on the establishment of digital banks. BSP Deputy Governor Chuchi...
The Bangko Sentral ng Pilipinas (BSP) is allowing universal and commercial banks to electronically submit six foreign exchange (FX) transaction documents to lessen risks of COVID-19 transmission in the handling of hardcopy. Based on a new memo (BSP Memorandum Order No. M-2020-089) that BSP Deputy...
Banks’ standing as trusted financial institutions will have new yardsticks with the Bangko Sentral ng Pilipinas (BSP) up-coming rule on reputational risk management. It took time but BSP Deputy Governor Chuchi G. Fonacier said the...
The Bangko Sentral ng Pilipinas (BSP) is proposing the use of satellites to bring financial products and services to the unbanked and underserved areas, and these are locations that are beyond the reach of telecommunication companies. BSP Governor Benjamin E. Diokno, who has a goal of bringing 50...
At least five banks are expected to apply for digital bank license this month, the first batch of applicants after the Bangko Sentral ng Pilipinas (BSP) approved the digital banking framework last week. “So far, about five have signified intention to apply for a digital bank license,”...
It has come to this. The Bangko Sentral ng Pilipinas (BSP) wants to make public their enforcement actions and criminal cases against erring banks and other supervised entities in the name of transparency and market discipline, deter banks...
The central bank’s guidelines on the establishment of digital banks is expected to be approved this month, according to a Bangko Sentral ng Pilipinas (BSP) official. BSP Deputy Governor Chuchi G. Fonacier (Bloomberg file photo) BSP Deputy Governor Chuchi G. Fonacier said the circular will be...
