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.
Nine rural banks and a bank consortium have secured grants worth $655,000 from the Asian Development Bank (ADB) for the implementation of digital transformation solutions aimed at catalyzing financial inclusion.
Global blockchain firm ConsenSys has announced its partnership with UnionBank of the Philippines to establish the country?s first financial technology product based on Ethereum that can execute and settle domestic remittances to and from rural banks in the Philippines.
