All of these characteristics have implications for how large and complex banks should be supervised, as compared with community banks. Notably, our supervision of large banks reflects the scope and complexity of their activities as well as their interactions with other firms and possible effects on financial markets, and incorporates systemic risk considerations that could arise from the failure of these banks.
As a result, e-KYC was launched; interest rate for digital savings was increased; and the volume and quality of digital lending were improved. In the Philippines, the significance of digital finance in achieving financial inclusion is highlighted in the recently launched National Strategy Financial Inclusion, or NSFI 2022–2028.