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The Bangko Sentral ng Pilipinas (BSP) is proposing guidelines that will establish the business models and arrangements for the eventual emergence of a digital financial marketplace under the open finance environment. BSP Governor Benjamin E. Diokno said that with the recently-issued Open Finance Fr
The Bangko Sentral ng Pilipinas (BSP) will pilot-test its open finance framework for three use cases account opening, direct debit payments and fund transfers in the second quarter this year. BSP Governor Benjamin E. Diokno said Thursday, Jan. 27, that based on the BSP’s open finance timeline
REPLICATING its success in Europe and the United Kingdom, nonprofit global movement Open Banking Exchange (OBE) has launched its Asian arm to increase financial inclusion in the region through Open Finance and Open Banking. The strategy of OBE to connect member companies with financial institutions as well as its provision…
IT is crucial for small and medium enterprises (SMEs) to have access to financial services, the Bangko Sentral ng Pilipinas (BSP) stressed, noting that the Open Finance Framework is geared towards onboarding more businesses on digital platforms. In a statement on Monday, the Central Bank explained that the said framework…