BSP: Fintech to play key role in economy

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said financial technology will play a key role in pump-priming the economy as it recovers from the onslaught of the coronavirus disease 2019.

Diokno, in a speech during the FinTech Alliance Digital Forum held May 20, said fintechs were uniquely positioned to support the country’s bid to shape a “new economy” that is more resilient, inclusive and technology enabled.

“The pandemic has revealed and brought urgency to necessary reforms around public health, social safety nets, disaster response, and countryside development. But what reinforces all these reforms is the digital imperative. There is no arguing that the new economy is digital,” Diokno said.