Medalla to sustain



The Manila Times

Business Times

strides under Medalla’s leadership. “There are many more improvements in store for us and for the Filipino people. You and I have so much to offer in the service of our country regardless of what hat we wear,” Diokno said. “I am confident that with the leadership of your new team captain — Governor Medalla — and the Monetary Board, you will continue to deliver gamechanging reforms and bring the BSP even closer to the Filipino people,” he added. On his watch, Diokno said the BSP promoted green finance, studied the feasibility and policy implications of issuing a central bank digital currency, and released the Philippines’ first-ever polymer banknote. Diokno also cited the BSP’s rapid shift to cloud-based communication tools to accommodate work-from-home arrangements, which increased its efficiency during the pandemic lockdowns. Seeing things from a broader perspective, Diokno said the pandemic has accelerated the innovation and digitalization of BSP products and services. Some of these include the electronic submission of bids and online conduct of procurement activities, and maximizing the use of e-documents, e-signatures and even online payments. “We have our own version of Build, Build, Build in the BSP. Despite the challenges of the pandemic, we expanded our existing facilities and built new structures,” Diokno said. He added: “Not many know this, but we also have an Electronic Security Modernization Project, which is intended to enhance BSP security operations with the use of the latest security technology that is fully integrated and meets global standards.” The project aims to unify security systems in all BSP regional offices and branches through a centralized command center. Diokno envisions it to not only optimize the central bank’s security manpower resources, but also “have real-time data and video analytics for faster decision-making and quicker response, rescue and recovery efforts, if and when needed.”