BSP, BMAP to increase collaboration this year

THE Bank Marketing Association of the Philippines (BMAP) 2023 Officers and Board of Directors met with the Bangko Sentral ng Pilipinas (BSP) Governor Felipe Medalla recently for their oathtaking and courtesy call held at the Executive Business Center, BSP Complex in Manila.

In a meeting, BMAP shared its plans and ongoing programs and assured the BSP of its continuing support to strengthen and promote the industry welfare and interests of the banking public.

Areas of collaboration were also discussed to further strengthen their long-standing partnership.

BMAP and BSP jointly promote financial education and inclusion among Filipinos through various programs such as BSP Annual Financial Education Expo, Cyberfraud Information Campaign, and Banking On Your Future (BOYF), among others.

Additionally, the Bank Marketing Awards (BMA), a key BMAP initiative running on its fourth year, aims to improve bank marketing and communication practices by recognizing outstanding brand and marketing initiatives.

The BSP, BMAP and the Bankers Association of the Philippines (BAP) have also been working together to raise awareness on cybersecurity and educate the banking public on cyber threats and online scams amid the rise in digital transactions.

The joint cyber hygiene information campaign, Check-Protect-Report, underscores that cyber security is a shared responsibility among financial regulators, industry participants and banking consumers.

BMAP, with 46 member banks and associate members, seeks to elevate the practice of bank marketing and communication through membership and public education, industry collaboration, collective participation, and by providing recognition to outstanding brand and marketing campaigns and projects of financial institutions.