MANILA – The government is pilot-testing the use of satellite internet services in two rural banks in Batangas City that are located in geographically isolated and disadvantaged areas (GIDA).
In a press release on Thursday, the Bangko Sentral ng Pilipinas (BSP) said it has teamed-up with the Philippine Space Agency (PhilSA), and the Department of Science and Technology-Advanced Science and Technology (DOST-AST) for the test deployment of satellite internet service provider iOne Resources Inc. at the Progressive Bank of Malvar and Rural Bank of Cuenca.
“The test deployment aims to evaluate the performance and reliability of satellite internet services under local weather conditions,” it said.
The BSP said the tie-up is in line with the government’s bid to “promote access to financial services in remote areas.”
“We believe in the capability of satellite technology to enhance connectivity in rural areas, thereby expanding the capacity of banks to provide digital financial services and promote greater financial inclusion in unserved and underserved areas,” BSP Governor Felipe Medalla said.
The BSP said 33 percent or around 533 of the 1,634 municipalities around the country still do not have bank branches.
Thus, its support to the signing by former President Rodrigo R. Duterte on March 10, 2021 of Executive Order (EO) No. 127, which allowed for the expansion of access to satellite systems to increase internet access and connectivity, especially in far-flung areas around the country. (PNA)