The Bangko Sentral ng Pilipinas (BSP) is urging banks and other financial institutions to develop by capitalizing on digital technology, specifically in microfinance.

“Digital technology enables efficiencies and scale in financial service delivery. Technology—once only available to the wealthy is now within reach,” Bangko Sentral Governor Nestor Espenilla Jr. said during 15th Citi Microentrepreneurship Awards launch in Manila over the weekend.

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