Philippines Open Finance

BSP Open Finance Framework

UpcomingOpen FinanceAsia
Philippines • Regulated by Bangko Sentral ng Pilipinas (BSP)
📅
Effective Date
Jan 2025
Expected
Full Compliance
Jan 2027
🏛️
Regulator
Bangko Sentral ng Pilipinas
BSP
📊
Scope Areas
3

Overview

The Bangko Sentral ng Pilipinas is developing an Open Finance framework covering banks, e-money issuers, and expanding to insurance. It will build on existing digital payment infrastructure.

Note: Focus on financial inclusion. Building on GCash and Maya ecosystem success.

Jurisdiction

Philippines
View Open Banking providers and TPPs in Philippines

Scope & Coverage

This regulation covers the following areas and services:

BankingE-MoneyInsurance

Key Requirements

API standardization
E-money issuer inclusion
Consumer consent
Financial inclusion focus

Timeline

Expected Effective Date
January 1, 2025
Full Compliance Deadline
January 1, 2027

Official Resources

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