We respect the mandate of the leadership of each bank to make strategic decisions and it is the risk choices in these decisions that differentiate one bank from another as a business proposition. Thus, when the BSP intervenes in the conduct of any bank, governance has broken down and remedial action is needed.
The recent pandemic has accelerated our reliance on technology and we have witnessed the potential of new technologies to provide benefits for consumers, but we have to keep working to contain the risks they may pose. Technology can also provide new and intelligent solutions to the other main factor that is transforming the world’s economy: climate change.