Balancing financial innovation and consumer protection

by The Manila Times

Jun 23, 2021 12:40 am

DIGITAL technology has enabled a vast number of innovations in banking and personal finance over the past few years, and just as any other profound technological change in human history, 'digitalization' presents opportunities and pitfalls for consumers almost in equal measure. Two pieces of news from the beginning of this week, although coincidental, highlight the importance of striking the right balance between providing an enabling environment for innovation while still properly protecting consumers.

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