WebClick Tracer

September 29, 2023

BSP Monetary Board green lights Regulatory Sandbox Framework

The regulatory body wants to further push for responsible innovation.

The Bangko Sentral ng Pilipinas Monetary Board announced the approval of the the Regulatory Sandbox Framework.

Under the said framework, the Test and Learn system allows banks, system providers and new players to offer financial products and services utilizing new technology to a limited number of customers in a controlled environment.

The Framework further allows players to study the potential of new technologies while mitigating risks to financial stability, promoting responsible innovation. Each sandbox shall undertake a four-stage process: (i) Application; (ii) Evaluation; (iii) Testing; and (iv) Exit Stages.

BSP MB approved the Regulatory Sandbox Framework which aims to promote responsible innovation among its supervised institutions.



BSP and BMAP strengthen collaboration

The Bangko Sentral ng Pilipinas (BSP) and the Bank Marketing Association of the Philippines (BMAP) directors and executives met to enhance their longstanding partnership, focusing on initiatives related to consumer protection, financial literacy, and cybersecurity.

Read More ...