February 2, 2023 | 12:02 amparticipate in the standards consultation to discuss operational and technical arrangements for the Philippine Open Finance Pilot.
“We call on our BSFIs and third-party providers to proactively take part in the development of technical and operational standards and arrangements and carefully scrutinize the fundamental elements necessary in the establishment of a vibrant open finance ecosystem in the country,” said BSP Governor Felipe M. Medalla.
It said it recognizes the PH Open Finance Pilot as an important undertaking in promoting a good digital financial ecosystem, characterized by innovation-driven use of consumer data. The OFOC TG represents industries including banks, electronic money issuers, operators of payment systems, and financial technology firms.