Rapid Evolution in Philippines' BFSI Sector: BFSI IT Summit 2024 to Illuminate Transformation
MANILA, Apr 19, 2024 - (ACN Newswire) - The banking, financial services, and insurance (BFSI) sector in the Philippines are undergoing a profound transformation, fueled by a surge in mobile penetration, the proliferation of Fintech solutions, and accelerated technology adoption. Notably, the Bangko Sentral ng Pilipinas (BSP) forecasts a substantial uptick in the banking system's total assets, soaring from PHP 23.7 trillion in 2021 to PHP 26.5 trillion by the conclusion of 2023. As the BSP actively champions digitalization initiatives within the banking industry, including advancements in digit...