MANILA, Philippines—The central bank will draw a unified policy governing the handling and use of digital data gathered by banks from their clients—a framework that would be in line with international standards, the regulator said.
At a press briefing, Bangko Sentral ng Pilipinas (BSP) Governor Benjamin Diokno said that, to achieve this, the BSP will conduct what he said was baselining exercise first gather industry data for use in crafting the policy on data governance and its ethical use for financial institutions.
“The baselining exercise will look into processes vis–vis the global standards set under Basel Committee on Banking Supervision 239 Principles,” he said.
The B…
Keep on reading: BSP eyes unified standard for handling, use of bank clients’ digital data