BSP offers rural banks free 3-year cloud banking system subscription

It is expected to help rural banks streamline operations and strengthen cybersecurity.

The Bangko Sentral ng Pilipinas (BSP) announced that eligible rural banks will receive a free 3-year subscription to a cloud-based core banking system to help them in their digital transformation.

The system will help rural banks streamline their operations, strengthen cybersecurity and operational resilience, and enhance customer service, the BSP said in an announcement on 1 September 2026.

It is also expected to help rural banks comply more effectively with BSP regulations.

“Through this digitalization program, we aim to help rural banks become stronger, more competitive, and better equipped to serve their customers,” said BSP Governor Eli M. Remolona, Jr.

The system will be operated by an external provider. Assistance will include supporting banks as they prepare to adopt the system, the BSP said.

To qualify, rural banks must meet BSP’s applicable minimum capital requirements and must not have an existing subscription to a software-as-a-service-based cloud-based core banking system at the time of application.

The assistance is covered under the Digitalization Technical Assistance of the BSP’s Rural Bank Strengthening Program.

Program guidelines for the core banking system were issued on 12 August 2026, and applications will open one month after the issuance of the guidance.