The Bangko Sentral ng Pilipinas will begin accepting applications in September for technical assistance that can help rural banks upgrade their core banking systems. BusinessWorld reports that eligible institutions may receive support for moving from legacy information technology systems to cloud-based systems delivered through a software-as-a-service model. The program is designed to improve operational efficiency and help rural banks remain competitive as more Filipinos use digital financial services in cities and the countryside.
The assistance may cover system configuration, data migration, integration, testing, training, cloud infrastructure, technical support, updates, and maintenance. The BSP says the initiative also aims to strengthencybersecurity, business continuity, operational resilience, and regulatory compliance. Applications will open on September 12, with each approved bank eligible for a six-month implementation period followed by a three-year subscription. Source:BusinessWorld.
