Whereas in the conventional model, banks favour customer relationships meaning that banks have the necessary incentives to monitor carefully lending activities and assess properly credit risks. The convergence towards the new business model stimulates an increasing information asymmetry and uncertainty and thus affects the degree of market efficiency.
Through these, we are optimistic of achieving our goal of digitizing at least half of all retail 1/3  BIS central bankers' speeches  payments and onboarding 70 percent of Filipino adults to the formal financial system. Approximately two years into the pandemic, the BSP’s actions proved to be in the right direction. The country’s macroeconomic fundamentals remain sound. Economic activity is vastly improving.