Create an Agent Registry and RegTech tool for supervision, consumer protection and financial inclusion monitoring 

	Country:	Philippines
	Member institution:	Bangko Sentral ng Pilipinas (BSP)
	Timeline:	Nov 2021 – October 2022
	Thematic area:	Digital Financial Services

Context 

Agents play a central role in promoting inclusive digital finance, especially to populations in remote and underserved areas. Given their strategic significance, effective monitoring and risk management of agents is critical.  

Previously, no information on accredited agents and their services was available publicly. BSP used an excel-based data collection system for agents, creating issues of inflexibility, time-consuming processes, and non-uniform reporting requirements.  

The Agent Registry project aimed to address existing data gaps that hindered visibility into the status and operations of agents.

Project Activities 

• Several crucial documents were developed, including the Business Requirements Document, System Requirement Document, and System Design Document. These documents laid the foundation for the digitalization of data. 

• A robust Agent Registry system was created and seamlessly integrated with BSP’s Enterprise Web Portal platform. Enhancements were made to the Financial Institution Library System to ensure seamless access to information. 

Outcome 

By addressing data gaps and digitalizing crucial information about agents and their operations, the project enhanced transparency and monitoring capabilities. The development and integration of the Agent Registry system, along with the digitalization of agent-related data, represented important milestones in the Philippines’ efforts to foster an inclusive and efficient digital finance ecosystem.