BSP governor Benjamin E. Diokno said, however, that applications for digital banking licenses will resume after three years if warranted by the circumstances.
Bangko Sentral ng Pilipinas governor Benjamin Diokno said the central bank is putting a cap on the initial set of digital banking players as it wants to observe first the operations of these entities.
The state-owned digital-only Overseas Filipino Bank (OFBank) has registered about 300 account openings a day since its mobile app was launched last June 29, its president and chief executive officer Leila Martin said.
The national government, spearheaded by the Department of Finance and Landbank, has launched the Overseas Filipino Bank (OFBank) as a digital-only, first branchless government bank that allows overseas Filipinos to perform banking transactions anytime and anywhere in the world.
The Department of Finance (DOF) has announced that it will launch two digital-based programs aimed at improving tax compliance and expanding financial inclusion, especially among Filipino migrant workers.
