Bangko Sentral Governor Nestor Espenilla Jr. believes the entry of a third major telecommunications player will be a big boost to the central bank's drive for digital financial inclusion.
Espenilla said that besides lacking awareness about the importance of financial inclusion, a lot of Filipinos also lack reliable access to the internet.
"Hopefully with a third telco coming soon, this will be solved in due course," Espenilla said.
He said there was also a need to build people's trust in digital systems, as many are still wary of hacking and data privacy breaches.
"But those are controllable risks," he said.
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