The Bangko Sentral ng Pilipinas (BSP) is offering eligible rural banks a free three-year subscription to a cloud-based core banking system (CBS) as part of efforts to accelerate their digital transformation.

The assistance is provided under the Digitalization Technical Assistance (TA) component of the BSP’s Rural Bank Strengthening Program (RBSP). The cloud-based CBS is expected to streamline operations, strengthen cybersecurity and operational resilience, improve customer service, and help rural banks comply with BSP regulations.

BSP Governor Eli M. Remolona Jr. said the initiative aims to help rural banks become stronger, more competitive, and better equipped to serve communities, particularly in rural areas.

The CBS will operate under a Software-as-a-Service (SaaS) model through an external provider. Assistance will also cover preparations for the adoption of the system.

Eligible recipients must demonstrate commitment to strengthening their operations under the RBSP, comply with applicable BSP minimum capital requirements, and have no existing subscription to a SaaS-based CBS at the time of application.

The BSP issued the program guidelines on August 12, 2026, covering eligibility, documentary requirements, application and evaluation procedures, and other program rules. Applications will open one month after the guidelines were issued.

The Digitalization TA is one of three components of the broader RBSP, alongside financial advisory and capacity building. Approved by the Monetary Board in January 2024, the program seeks to improve the digital capabilities, operations, and competitiveness of rural banks in line with Republic Act No. 7353, or the Rural Banks Act of 1992.

The program guidelines are available through the BSP official website https://www.bsp.gov.ph/Regulations/Issuances/2026/M-2026-042.pdf