Tag "Bangko Sentral Ng Philipinas"
BSP Gives Nod for New Rules on e-KYC Using Digital IDs
The Bangko Sentral ng Pilipinas (BSP) has approved amendments to its due diligence regulations to include electronic Know-Your-Customer (e-KYC) using digital identity. The new rules set out the requirements for the use of digital identification and verification as part of
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Digital PERA Contributors Triple as More Filipinos Set Aside Funds for Retirement
The number of Personal Equity and Retirement Account (PERA) contributors almost tripled two years after the Bangko Sentral ng Pilipinas (BSP) launched the Digital PERA in September 2020. The Digital PERA is an online one-stop shop where investors can open
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BSP Urges Banks to Beef up Security Against Cyber Attacks
Bangko Sentral ng Pilipinas (BSP) has urged financial institutions to adopt robust control measures against cyber attacks on retail electronic payments and financial services (EPFS) due to the increasing shift to digital channels. According to the memorandum that BSP had
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BSP Will No Longer Be Accepting Digital Bank Applications
Bangko Sentral ng Pilipinas (BSP) announced that it will no longer be receiving applications for new digital banks including banks wanting to convert their status from 1st September 2021. Digital bank applications sent in to BSP until 31 August 2021
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Philippines Is The Latest to Approve a Digital Banking Framework
The Monetary Board approved the recognition of digital bank as a new bank category that is separate and distinct from the existing bank classifications. A digital bank is defined as a bank that offers financial products and services that are
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Phillippines’ Central Bank Sets June 2020 Deadline for Industry to Adopt QR Standard
In line with its thrust of ensuring the efficiency of payment systems in support of inclusive economic development, the Monetary Board has approved a policy requiring the adoption of a National Quick Response (QR) Code Standard for payments. The QR
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