Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. is pushing for stronger collaboration with stakeholders to enhance the country’s digital finance ecosystem, aiming to bolster security, accessibility, and efficiency.
“We need a safer digital space. The Anti-Financial Account Scamming Act (AFASA) was enacted to fight fake accounts, fraud, and scams. Implementing rules and regulations are in the works,” Remolona said Thursday.
The BSP is also prioritizing streamlined digital banking, highlighting initiatives such as QR Ph, the national QR code standard for payments, and the Standard Business Loan Application Form (SBLAF), designed to simplify payments and credit applications.
“Launched in December, SBLAF is short, user-friendly, and fully digital,” he noted.
Remolona pointed to the lifting of the moratorium on digital banking licenses as a key development, enabling more digital banks to support small businesses in opening accounts and accessing loans.
“With these measures, digital finance is becoming more secure, efficient, and inclusive,” the BSP chief added. (PNA)
