MAS and Philippines Central Bank Commit to Promote Data Connectivity, Info Sharing

Bangko Sentral ng Pilipinas (BSP) and the Monetary Authority of Singapore (MAS) have committed to work together to promote data connectivity in financial services in a joint statement.

Both regulators recognise that the ability to aggregate, store, process, and transmit data across borders is critical to the development of the financial sector.

“The expanding use of data in financial services and the increasing use of technology to supply financial services offer a range of benefits, including greater consumer choice, enhanced risk management capabilities, and increased efficiency,” they said.

Read more: Fintech News Singapore