The Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr spoke at the central bank’s AI Summit 2026 in Manila, Philippines, on 27 July, where he mentioned that strong governance is the key to unlocking AI’s potential in the financial sector.

He said AI holds real promise for consumers and businesses. But he stressed that institutions need governance strong enough to manage the risks that come with it.

Remolona said AI should complement people rather than replace them.

“AI can identify patterns, generate ideas, and help us make sense of complexity. But deciding where we want to go or what outcomes we value most by using AI, that remains our responsibility,” he said.

BSP Deputy Governor Lyn I. Javier, who signed the central bank’s STARS framework for AI governance in June, reaffirmed BSP’s commitment to keeping consumer safeguards in place as AI continues to reshape financial services.

Building on BSP’s STARS Framework

The summit follows BSP’s voluntary AI governance guidance, issued in June under the STARS framework: sustainability, transparency, accountability, responsibility, and security.

The framework sets non-binding expectations for how banks and other supervised institutions should govern their AI use.

Javier signed that earlier guidance.

She has said the framework is meant to help institutions take advantage of AI while staying guided by developing global standards.

Featured image: Edited by Fintech News Philippines based on an image by the Bangko Sentral ng Pilipinas via LinkedIn.