Amazon, but make it banking

The Bangko Sentral ng Pilipinas (BSP) has authorized banks to operate within digital marketplaces and platforms, allowing lenders to sell both proprietary and third-party products to expand their domestic reach, while explicitly prohibiting gambling-related services to protect consumers.

- By DERCO ROSAL

These new rules, detailed in BSP Circular No. 1237-2026, seek to advance inclusive, customer-centric financial ecosystems by allowing BSP-supervised financial institutions (BSFIs) to host diverse financial and non-financial services under one digital roof.

Under this framework, which takes effect over the next two weeks, the BSP recognizes that digital platforms are essential for both banks and non-banks to “expand operational scale, reach a wider customer base, and deliver a more integrated and tailored customer experience.”