SOME LENDERS behaving like online banks might be required to obtain digital banking licenses to curb arbitrage and improve oversight, the Bangko Sentral ng Pilipinas (BSP) said.
“We’re busy right now determining which among the digi-centric institutions that we have right now can already be considered as operating like a digital bank,” BSP Director for Technology Risk and Innovation Supervision Department Melchor T. Plabasan told reporters on the sidelines of an event in Mactan, Cebu on Wednesday.
He said lenders operating like online banks might be obliged to also undergo the process of securing digital bank licenses.
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