The Digital Leap Building on the gains of our policy initiatives over the years, we are setting our sights on digital innovation. Digital solutions not only present opportunities for cost savings and efficiency gains, but also provide potential break-through in reaching the unserved and underserved markets on a massive scale.
The BSP’s approach has been to scale regulations according to the risks involved to ensure that beneficial innovations and efforts for financial inclusion are not hampered by unwarranted compliance burden. Currently, the BSP is working closely with various innovators on the launch of additional digital financial services covering mobile financial services via social network, online micro-investment platform, and use of digital cash.