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Fintech / Regtech
BSP Green Lights Q3 Launch of GoTyme Digital Bank
By Editors | 05/08/2022
GoTyme Bank, a joint venture of digital banking group Tyme and members of the Gokongwei Group of companies, was awarded a Certificate of Authority.
BSP to Ease Documentary Requirements for FX Transactions
By Editors | 31/07/2022
The BSP has proposed draft rules to ease the documentary requirements for registering inward investments and FX remittances to fund investments.
AML / KYC
Philippine Court Jails Seven Over Investment Scam
By Editors | 28/07/2022
Seven perpetrators of a PHP 3 billion investment scam were sentenced to 20 years in jail each on top of financial penalties. Four others remain at large.
Fintech / Regtech
Five ASEAN Central Banks to Link Payment Systems
By Editors | 21/07/2022
The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand will formally sign an agreement on payment connectivity in November.
Fintech / Regtech
Philippines: Diokno Directs SEC to Further Digitalise Markets
By Editors | 21/07/2022
Finance Secretary Benjamin Diokno directed the SEC to use digital technologies to improve monitoring, build investor trust, protect the investing public, and better serve the economy.
Fintech / Regtech
Philippines: UnionBank Commences Digital Banking Operations
By Editors | 20/07/2022
UnionDigital Bank commenced operations on Monday after receiving the BSP’s green light for the launch last week.
Market Infrastructure
BSP Designates Two “Prominently Important” Payment Systems
By Editors | 18/07/2022
The designation of PESONet and InstaPay as Prominently Important Payment Systems will mean they are subject to closer BSP supervision and monitoring.
AML / KYC
BSP Issues Guidance on Conducting AML/CFT Risk Assessments
By Editors | 18/07/2022
The findings from institutional risk assessments should be used to enhance AML/CFT/CPF/sanctions compliance programmes and made available to the BSP during examinations.
AML / KYC
BSP Reiterates Calls for FIs to Enhance Anti-Fraud Measures
By Editors | 05/07/2022
The BSP has vowed to intensify monitoring and surveillance of the financial industry to ensure they “remain responsive to emerging risks”.
Crypto / Digital Assets
Japan’s Soramitsu to Study CBDC in Vietnam, Fiji, Philippines
By Editors | 27/06/2022
Japan’s METI has selected Soramitsu to conduct CBDC feasibility studies in other APAC countries, building on its work in Cambodia and Laos.
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