BSP Updates Regulations on Digital Banks
BSP approved changes about digital banks and clarified the processes involved in the new industry.
Read moreBSP approved changes about digital banks and clarified the processes involved in the new industry.
Read moreIt might be two to three years before the BSP starts processing digital banks again.
Read moreAboitiz-led Union Bank of the Philippines (UnionBank) said that it received the approval of the Securities and Exchange Commission (SEC) to put up a digital banking subsidiary.
Read moreBSP’s goal in digital banking is to help the central bank to reach its goal – to attract 70% of Filipino adults into the banked population, and 50% of the payments be done online by the year 2023.
Read moreBangko Sentral ng Pilipinas (BSP) Governor Benjamin E. Diokno announced the possibility to reopen the window for digital bank license applications if additional neobanks are needed.
Read morePLDT enters the digital bank race as it secures a license from the BSP.
Read moreBSP announced that it will no longer be receiving applications for new digital banks including banks wanting to convert their status from 1st September 2021.
Read moreUnionBank is the first publicly-listed Philippine bank to be granted a digital banking license by the BSP.
Read moreUnionbank will create a new subsidiary which will be called Union Digital Bank (UnionDigital) according to a recent filing.
Read moreVoyager Innovations, the parent company of PayMaya secured $167 million investment which will be used to expand to digital banking & other financial services.
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