BSP optimistic on digital banking outcomes

By Mayvelin U. Caraballo

Sep 29, 2021 1:20 am

THE Bangko Sentral ng Pilipinas (BSP) is optimistic that the country's adoption of a digital banking system will aid in poverty reduction and economic growth.

During Management Association of the Philippines' webinar on 'The Rise of Challenger Banks' held on Tuesday, BSP Governor Benjamin Diokno quoted a World Bank paper published in April 2020 that claimed access to affordable financial services is crucial for poverty reduction and economic progress.

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