MANILA, Philippines—The Bangko Sentral ng Pilipinas (BSP) is adopting technology-driven supervision as part of efforts to keep its operations on par with global best practices for the new business landscape brought about by the COVID19 pandemic.
At an online press briefing, BSP Governor Benjamin Diokno said regulators are now using more technological resources to monitor the performance of financial institutions and their adherence to banking regulations.
“Among our current initiatives is the use of technology-enabled supervision that will heavily depend on big data analysis,” he said. “This is fast developing into a promising and viable alternative as this allows supervisors to …
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