Modelled after Japan's national payment system, the new system is expected to enhance straight-through processing between the central bank and FIs.
November 29, 2020Most regulators either accelerated or introduced new innovation initiatives in response to Covid-19. No such initiatives were cancelled, says a report from the World Bank and CCAF.
November 4, 2020The HKMA is working with banks to study the feasibility of the 'Commercial Data Interchange', a new financial infrastructure to facilitate financial intermediation.
November 3, 2020The digital currency, known as Bakong, allows users to transfer money using a mobile app by scanning QR codes or inputting the recipient's phone number.
October 29, 2020CBDC research provides an "essential opportunity" to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.
October 28, 2020PhilSys will mean wider inclusion in the financial ecosystem for the unbanked, allowing cash aid, credit and other welfare spending to reach them faster.
October 16, 2020Digital transformation has accelerated in financial services amid the pandemic. But it has not come without risks.
October 5, 2020A 3-year roadmap to be unveiled by year-end includes plans to set up central clearing for OTC derivatives, and improve convenience and efficiency for foreign investors.
September 27, 2020As part of the MoU, the BSP and OJK have reportedly lined up talks in the areas of supervisory frameworks, consumer protection, financial inclusion, fintech and capacity building.
September 7, 2020The MoU will see increased cooperation in areas such as accounting standards, governance and transparency, fintech development, and sustainable finance.
August 16, 2020