By contrast, during the lockdown, transactions rose to 32.05 million in volume and 1/3  BIS central bankers' speeches  Php607.92 billion in value. We expect this dramatic shift to digital payments to continue even after the pandemic. Increased digitalization however came with its own set of problems, such as a significant increase in the number and variety of cyberthreats and cyberattacks.
It focuses specifically on information technology systems, their performance and risk management. Role of board and independent directors While we have discussed about governance in general and, IT governance in particular, one aspect which remains to be mentioned is the importance of the role that independent directors on the Boards of banks are expected to play.