The Bangko Sentral ng Pilipinas (BSP) will provide eligible rural banks with a free three-year subscription to a cloud-based core banking system as part of a program aimed at accelerating their digital transformation.
Maya is using the Philippine National ID system and artificial intelligence (AI) to automate parts of its customer verification process, cutting overall consumer onboarding turnaround time by 84%.
Digital payments accounted for 64.7% of retail transactions in the Philippines in 2025, putting the country within the government’s target range for digital payments through 2028, according to the Bangko Sentral ng Pilipinas (BSP).
The Bangko Sentral ng Pilipinas (BSP) has defended its push for banks to reduce or eliminate electronic fund transfer fees, saying lower charges could encourage more Filipinos to use digital payments but would not, by themselves, ensure financial inclusion.
BSP governor Eli Remolona Jr. said AI could help financial institutions analyze complex information and generate ideas, but decisions over how the technology is used must remain with people.
The Bangko Sentral ng Pilipinas (BSP) and Philippine Payments Management Inc. (PPMI) have launched three interoperable payment services covering recurring bills, account funding, and higher-value business transfers.
The Bangko Sentral ng Pilipinas (BSP) has urged banks and other supervised financial institutions to strengthen their cybersecurity controls as advanced artificial intelligence systems make cyberattacks faster, more adaptive, and easier to scale.
The Bangko Sentral ng Pilipinas (BSP) and the Department of Justice (DOJ) have signed an information-sharing agreement aimed at speeding up the investigation and prosecution of financial account scams.
The Bangko Sentral ng Pilipinas (BSP) has issued governance principles for the use of artificial intelligence by banks and other BSP-supervised financial institutions (BSFIs), setting minimum supervisory expectations for managing the technology’s risks.
The Bangko Sentral ng Pilipinas (BSP) said its Project Agila pilot has shown that a distributed ledger-based wholesale central bank digital currency (wCBDC) platform can support interbank fund transfers beyond normal business hours, giving the central bank an early technical basis for using tokenized money in large-value payments.
