The PhilSys will support the mainstreaming of transaction accounts, particularly the Basic Deposit Account, which is designed to meet the needs of the unbanked. In fact, 5.6 million bank accounts have been opened for unbanked Filipinos from low-income households through a co-location scheme by the PSA and Land Bank of the Philippines.
We are also pursuing policy reforms on digital connectivity to accelerate financial inclusion across the country. 2/3  BIS central bankers' speeches  We endorsed Executive Order No. 127 signed by President Rodrigo Roa Duterte in March, promoting satellite broadband technologies to advance rural connectivity.