The Bangko Sentral ng Pilipinas (BSP) said it is reviewing the recent service disruption that affected Bank of the Philippine Islands (BPI), warning that financial institutions will be held accountable for such outages, as reported by YugaTech.
The central bank emphasized that banks must ensure the reliability of their digital services, as disruptions can cause significant inconvenience to customers and undermine trust in the financial system. The BSP is now reviewing the incident to determine whether BPI violated any regulations.
This latest warning comes as the BSP pushes for greater digitalization in the Philippine banking sector, while also stressing the importance of robust IT infrastructure and contingency plans to prevent service interruptions.