Bangko Sentral says applicants for 7th digital bank failed to complete requirements | ABS-CBN
ADVERTISEMENT
Welcome, Kapamilya! We use cookies to improve your browsing experience. Continuing to use this site means you agree to our use of cookies. Tell me more!
Bangko Sentral says applicants for 7th digital bank failed to complete requirements
Bangko Sentral says applicants for 7th digital bank failed to complete requirements
Warren De Guzman,
ABS-CBN News
Published Oct 04, 2021 10:20 AM PHT
MANILA - The Bangko Sentral ng Pilipinas said Monday there won't be a 7th digital banking license granted since applicants for the slot failed to submit the complete requirements.
MANILA - The Bangko Sentral ng Pilipinas said Monday there won't be a 7th digital banking license granted since applicants for the slot failed to submit the complete requirements.
The BSP earlier said it would only approve 7 digital banking licenses in the first phase to assess the new financial instrument's impact on the Philippine economy.
The BSP earlier said it would only approve 7 digital banking licenses in the first phase to assess the new financial instrument's impact on the Philippine economy.
"It turned out the 9 additional applicants failed to submit the necessary documents," Diokno said in a virtual event hosted by the Financial Executives Institute of the Philippines (FINEX).
"It turned out the 9 additional applicants failed to submit the necessary documents," Diokno said in a virtual event hosted by the Financial Executives Institute of the Philippines (FINEX).
Breaking news: Gov. Benjamin Diokno says the BSP, for now, will only be awarding 6 digital banking licenses because the 9 aspirants who were vying for the 7th and final license failed to submit complete documentary requirements. pic.twitter.com/bx59FFqw7i
— Warren de Guzman (@wddeguzman) October 4, 2021
Breaking news: Gov. Benjamin Diokno says the BSP, for now, will only be awarding 6 digital banking licenses because the 9 aspirants who were vying for the 7th and final license failed to submit complete documentary requirements. pic.twitter.com/bx59FFqw7i
— Warren de Guzman (@wddeguzman) October 4, 2021
Applications for new digital banks were closed last Aug. 31.
Applications for new digital banks were closed last Aug. 31.
ADVERTISEMENT
The BSP has awarded digital banking licenses to Landbank's OF Bank, Tonik Bank, UnoBank, UnionDigital, GOTyme and Maya Bank.
The BSP has awarded digital banking licenses to Landbank's OF Bank, Tonik Bank, UnoBank, UnionDigital, GOTyme and Maya Bank.
Digital banks have no physical branches and were designed to streamline access to financial services by reducing requirements when opening a bank account.
Digital banks have no physical branches and were designed to streamline access to financial services by reducing requirements when opening a bank account.
RELATED VIDEO:
ADVERTISEMENT
ADVERTISEMENT
