Tag "Bangko Sentral ng Pilipinas (BSP)"

BSP Lays Out Prudential Requirements for Philippines’ Digital Banks

The Bangko Sentral ng Pilipinas (BSP) has approved the second set of guidelines for digital banks following the release of the digital bank framework in December 2020. The approved guidelines set out the BSP’s supervisory expectations with regard to corporate

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Maya Bank Hits 650,000 Customer Milestone 3 Months After Launch

Maya Bank announced that it has reached a 650,000-customer milestone just three months after launch and that it has P5 billion which is approximately US$89 million in deposit balance as of end-July 2022. The bank launched its services to the

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RCBC ATM Go Now Covers All 81 Provinces in the Philippines Through 1,400 Terminals

The Rizal Commercial Banking Corp’s (RCBC) community-based financial service ATM Go is now servicing all 81 provinces in the Philippines through over 1,400 ATM Go terminals and 1,000 partner merchants across the country. As of end August this year, ATM

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BSP Issues ESG Guidelines to Push for Sustainable Investment Activities

The Bangko Sentral ng Pilipinas (BSP) has issued guidelines to banks on the integration of sustainability principles for investment activities. Banks are expected to consider their sustainability objectives in their investment activities and ensure that such investment contributes to sectors

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BSP Green Lights All Six Digital Banks to Launch Full Operations

The Bangko Sentral ng Pilipinas (BSP) has issued Certificates of Authority (COA) to all the six licensed digital banks in the country, allowing them to pursue full operations. The most recent recipients were UnionDigital Bank and GoTyme Bank, which obtained

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BSP Says More Than 50% Of Filipinos Now Own a Financial Account

The Bangko Sentral ng Pilipinas (BSP) reported that more than half of the country’s adult population now owns a financial account. The 2021 Financial Inclusion Survey (FIS) conducted by BSP showed that account ownership surged to 56 percent in 2021,

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PESONet Transactions Sees Massive Spike With Multi-Batch Settlement Launch

The total value of PESONet transactions jumped by 48.1 percent year-on-year, reaching PHP 2.9 trillion in the first half of 2022, following the rollout of the PESONet’s Multiple Batch Settlement (MBS) facility. The number of transactions processed through PESONet also

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BSP Accelerates Implementation of the Person-To-Merchant QR Code System

The QR Ph Person-to-Merchant (P2M) payment facility, now fully implemented, now may be used in 473,000 merchant locations nationwide as of April 2022 which is almost double compared to the previous month. Bangko Sentral ng Pilipinas (BSP) reported that there

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BSP Names PESONet, InstaPay as Prominently Important Payment Systems

The Bangko Sentral ng Pilipinas’ (BSP) Monetary Board has named PESONet and InstaPay as Prominently Important Payment Systems (PIPS) pursuant to the National Payment Systems Act (NPSA). PESONet and InstaPay are digital payment schemes launched in 2017-2018 under the National Retail

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BSP Now on Its Third Phase of Sustainability-Related Regulations

The Bangko Sentral ng Pilipinas (BSP) is now on its third phase of sustainability-related regulations with the recent release of draft guidelines on the integration of sustainability principles in banks’ investment activities. The central bank said that the finalisation of

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