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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.
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: 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”.
Fintech / Regtech
BSP Upgrades Infrastructure to Support Big Data Applications
By Editors | 16/06/2022
The BSP plans to start using big data sources and applications in 2023, starting with an index that will analyse online news to gauge the sentiment.
Market Infrastructure
Philippines Launches New Framework for Managing Crises
By Editors | 15/06/2022
The SRCM framework sets out how the FSCC should intervene in the event of a potential systemic risk that could negatively affect the macroeconomy.
AML / KYC
IMF Calls on Philippines to Enhance AML Supervision
By Sanday Chongo Kabange | 14/06/2022
Limited actions to amend bank secrecy laws present risks to the Philippines. Casinos, the gaming industry, and crypto exchanges are flagged as risky.
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