As of end-June 2021, there were over 3,000 rural banks nationwide. However, only 21 of them offer PESONet and 11 offer InstaPay for electronic fund transfer services.
December 8, 2021The SEC is seeking PHP 2.6 billion over a five year period to implement sweeping digital transformation initiatives, including to upgrade existing systems.
December 7, 2021Indonesia’s OJK has launched a five year development roadmap for the country's rural banks and Sharia rural banks.
December 6, 2021OJK says banks need to prioritise digital transformation to improve their competitiveness and ensure the overall resilience of the banking sector.
November 3, 2021International Finance Corporation will help Bangladesh's FIU develop e-KYC infrastructure to advance digital transformation and financial inclusion.
November 1, 2021FSC chairman Koh Seungbeom said the entry of tech giants into financial services has added fuel to market competition.
October 31, 2021The report outlines how FIUs can benefit from the adoption of digital tools, including through improved data utility, analytical capacities, and STR management.
October 28, 2021The FATF will issue updated guidance for VASPs next week. A statement on Afghanistan was released. Beneficial ownership and cross-border payments also in focus.
October 23, 2021The fund will be distributed by three Chinese lenders. BlackRock plans to roll out passively-managed funds in China in the future as well.
September 1, 2021Digital banks should have a minimum paid-up capital of IDR 10 trillion (USD 694 million). However, the capital deposit required at the time of application is IDR 3 trillion.
August 23, 2021