#philippine banking

The Bangko Sentral ng Pilipinas (BSP) said it is reviewing the recent service disruption that affected Bank of the Philippine Islands (BPI), as customers experienced problems accessing the bank's digital channels over the past few days. The outage started on the evening of June 14, when many BPI customers reported being unable to access the bank's mobile app and online banking platform. GoTyme said it is focused on rolling out new digital financial services aimed at widening financial inclusion in the Philippines. Earlier this month, GoTyme announced a regional partnership with Visa covering the Philippines, South Africa, and future Southeast Asian markets. The history of banking in the Philippines is a rich one and started during the Spanish colonial period. The first banks were established to help the growing commerce and trade in the islands, but over the decades and with the help of technology, the banking industry has evolved into something that is capable of servicing every Filipino, not just in the Philippines but anywhere in the globe. The banking industry in the Philippines started with the establishment of the "El Banco Español Filipino de Isabel II" on August 1, 1851. Despite the hardships the country faced, the banking industry flourished over the decades and branches were opened across the country where businesses are booming. Read more in our articles including "BSP warns of accountability after BPI outage" and "GoTyme reaches 8 million customers, targets profitability by 2027".