The central bank of the Philippines, the Bangko Sentral ng Pilipinas (BSP), has come out with the BSP Digital Payments Transformation Roadmap for 2020-2023, which essentially is a proposal to stakeholders about an open banking framework as part of the regulator’s 3-year digital payments transformation program. The proposal is seen as an effort to boost financial inclusion and transform the Philippines from a cashheavy economy to a cash-lite economy.
The central bank, in making the proposal public and seeking comments from stakeholders, is actually moving ahead with fintech ecosystems that support consent-driven data portability, interoperability and collaborative partnerships with formidable financial institutions and fintech players. This, the regulator believes, will significantly benefit the country.
COVID SPURS OPEN BANKING
Diese Geschichte stammt aus der March 2021-Ausgabe von Banking Frontiers.
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