BSP: Digital Bank Deposits reach 153 billion Pesos
Digital banks posted a record high of deposits, according to a report by Bangko Sentral ng Pilipinas last May, growing from 130 million pesos last year to 153 billion pesos. Most of these deposits are stored in digital banks that offer financial services akin to traditional banks—loans, credit, and bill payments, among others. The key value proposition that has likely spurred the wave of […]
From Deployment to Protection: How the DMW is Transforming Support for OFWs
Four years after its establishment, the Department of Migrant Workers (DMW) has expanded its role beyond facilitating overseas employment. As President Ferdinand Marcos Jr. prepares to deliver his fourth State of the Nation Address (SONA), the department highlighted how its responsibilities now include worker protection, crisis response, digital transformation, reintegration, and stronger enforcement against illegal recruitment and […]