“Active stakeholder engagement” means the BSP is actively engaging supervised entities to constantly get updates from them on innovation trends that the regulatory environment should capture. “Consumer protection” means financial institutions offering fintech-enabled services are required to have the necessary safeguards to ensure the protection of financial consumers against ITrelated fraud and data compromise.
I’ve talked a lot about “innovations” but let me also go into the sustainable aspect in all these. Needless to say that there is an urgent need for the entire world to more vigorously address climate change.