Regulatory policies on the establishment of digital banks are expected to be ready before the end of 2020, Bangko Sentral ng Pilipinas (BSP) governor Benjamin Diokno said.
Officials of the United Coconut Planters Bank (UCPB) are set to file charges against the perpetrators of the cyber theft that cost the bank some P167 million in June 2020.
Department of Trade and Industry secretary Ramon Lopez said the roadmap will help the country become an “AI center for excellence” in the region, backed by a rich local talent pool and vibrant innovation and entrepreneurship ecosystem.
The Securities and Exchange Commission (SEC) has considered favorably the initial public offering of Converge ICT for a maximum of about P41.55 billion.
The Philippines was the top "digital riser" in East Asia and the Pacific region, according to the Digital Riser Report 2020 which analyzed the digital competitiveness of countries as indicated by its digital ecosystem and mindset.
Data from the Philippine Economic Zone Authority showed that from January to July 2020, registered investments from the BPO sector grew 37 percent to P11.4 billion amid the global health crisis.
The cyber theft, which was first reported by local finance website bilyonaryo.com, occurred during the Independence Day weekend this year. Hackers were said to have used a combination of ATM withdrawals and online transfers to undertake the heist.
The Department of Information and Communications Technology (DICT) said it has received letters of intent from 13 firms asking to register as common tower companies.
Complaints related to online businesses also surged in the past months, with complaints filed with the DTI in the first eight months of the year reaching 12,630.
