BSP to watch banks with cyber software

The Bangko Sentral ng Pilipinas (BSP) has cued the rollout of a software solution at selected BSP-supervised entities as part of efforts to further enhance banking and financial industry resilience against cybersecurity attacks. Dubbed "Advanced SupTech Engine for Risk-Based Compliance or ASTERisC*," the system is a unified regulatory and supervisory technology (RegTech and SupTech) solution that streamlines and automates regulatory supervision, reporting and compliance assessment of banks' cybersecurity risk management. "The BSP continuously engages [industry players], relevant government agencies, and industry associations for a cohesive and industry-wide approach to addressing e...

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