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BSP likely to 'accomplish' digitalization goals by 2022: Diokno

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ABS-CBN News

<p> <br/>MANILA - The Bangko Sentral ng Pilipinas could achieve its digitalization goals before the end of 2022, BSP Governor Benjamin Diokno said Tuesday.</p><p>In a statement, Diokno &quot;expressed confidence&quot; that the central bank would hit its target of digitalizing at least 50 percent of financial transactions and 70 percent of Filipinos owning financial accounts as early as next year. </p><p>“Before the end of 2022, we will accomplish those goals,” Diokno said during the Institute of International Finance Asia Pacific Summit.</p><p>Sustained growth in digital financial transactions, especially during the COVID-19 pandemic, will boost BSP&#x27;s chances of reaching its goals, he said.</p><p>Diokno earlier said the country&#x27;s digitalization efforts kept <a href="https://news.abs-cbn.com/business/02/19/21/digitalization-kept-economic-gears-running-in-2020-says-bsp-chief-diokno-instapay-and-pesonet">economic gears running</a> last year despite obstructions caused by restrictions imposed to mitigate the spread of COVID-19. </p><p>The use of InstaPay and PESONet for online fund transfers surged during the COVID-19 lockdowns as Filipinos shifted to digital platforms for their daily basic and financial needs. </p><p>InstaPay and PESONet are part of BSP&#x27;s National Retail Payment System (NRPS). </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/04/01/21/list-bsp-says-more-banks-extend-waived-fees-for-instapay-pesonet">LIST: BSP says more banks extend waived fees for InstaPay, PESONet</a></li>	<li><a href="https://news.abs-cbn.com/business/07/08/20/covid-19-pandemic-highlights-increasing-importance-of-digital-transactions-bsp">COVID-19 pandemic highlights &#x27;increasing importance&#x27; of digital transactions: BSP</a></li></ul><div><strong>RELATED VIDEO: </strong></div><figure class="op-interactive"><iframe allow="autoplay; fullscreen" frameBorder="0" height="100%" id="ivsplayer01" scrolling="no" src="https://player.ivideosmart.com/ivsplayer/v4/dist/html/iframe-src.html?iframeid=ivsplayer01&amp;key=e8c22c015ca9eafa76f1e3edfa03c603&amp;spid=3001339&amp;vid=1696633" width="100%"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div><div><br/> </div>

<p>The Bangko Sentral ng Pilipinas could achieve its digitalization goals before the end of 2022, BSP Governor Benjamin Diokno said Tuesday.</p>

The Bangko Sentral ng Pilipinas could achieve its digitalization goals before the end of 2022, BSP Governor Benjamin Diokno said Tuesday.