Central bank pushes digital innovation

THE Bangko Sentral ng Pilipinas (BSP) said it is looking at enabling banks, electronic money issuers (EMIs) and financial service providers (FSPs) to transact with customers in a digital marketplace in a bid to foster digital financial innovation.

"The BSP is crafting rules that will allow covered banks and EMIs to establish a digital marketplace where they can partner with FSPs to develop and offer a wide array of financial products and services to consumers under a one-stop-shop platform," said BSP Governor Benjamin E. Diokno in a statement on Monday.