I am confident that this vision is now more attainable with the help of the business and banking sectors as collegial partners of the BSP. Working together towards the realization of this vision, we become more mindful of our common goal, which is to promote the sustained and robust growth of the economy.
For financial institutions saddled with moribund ICT legacy systems, the cloud presents an opportunity to upscale to the anytime anywhere cutting-edge financial services platforms demanded by today’s discerning customers. Even as we reap from innovation, we must remain alive to the risks. Recent devastating cyber attacks including Solarwinds, Colonial Pipeline and Kaseya in the U.S. come into mind.