January 20, 2017
Electronic Processing of Checks to Start Soon
01.19.2017 The electronic processing of checks shall commence on 20 January 2017. The Philippine Clearing House Corporation (PCHC) is set to implement the clearing of checks via electronic presentment through its Check Image Clearing System (CICS). Under the CICS, only the digital images of checks and their electronic payment information will be transmitted to the …
BSP Issues Regulation Enabling Banks to Expand Service Delivery Channels
01.18.2017 In line with the thrust of the Bangko Sentral ng Pilipinas to create an enabling regulatory environment for innovations and allow banks to exponentially expand reach and serve clients more efficiently, the Monetary Board recently approved the guidelines for new bank service channels and relaxed existing regulations on deposit taking activities outside bank premises. …
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