Bangko Sentral ng Pilipinas Governor Benjamin E. Diokno said they could be flexible in imposing the ban or lifting the suspension on digital bank license application, and could in fact lift the three-year moratorium anytime.
“The BSP is cognizant of the benefits of a flexible regulatory approach in the adoption of technological innovations in financial services that expands reach to the unbanked and underserved segments of the country,” he said. The applications received on or before August 31 with documentary deficiencies or which do not meet the BSP’s pre-qualification criteria will be returned and will not be subject to further processing. Late applications will be processed on a first-come, first-served basis.
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