UBX Philippines Corp., the financial technology arm of the Aboitiz Group, announced its participation in the pilot run of the Bangko Sentral ng Pilipinas’ Open Finance PH.
The BSP defines open finance as the extension of data sharing principles, assigning greater control to customers over their own data and enabling third party providers with access to their data across multiple financial products and services. With the pilot program, the BSP promises a more “responsive, inclusive, and responsible digital financial ecosystem that is characterized by innovation and permission-driven use of consumer data.”
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