GUIDELINES

This page outlines the basic eligibility of applicants as well as which projects and costs are eligible for funding.

ELIGIBILITY FOR RURAL BANKS

Small and Mid-size Rural Banks
Registered with Securities & Exchange Commission (SEC) and regulated by the Bangko Sentral ng Pilipinas (BSP)
With CAMELS or Supervisory Assessment Framework (SAFr) and latest rating of at least 3
With financial audit reports and internal control reports for at least three (3) years

Microfinance Institutions registered with Securities & Exchange Commission (SEC) and a member of the Microfinance Council of the Philippines (MCPI)
With financial audit reports and internal control reports for at least three (3) years

Digital core banking implementation, whether in part or in full;
Development of applications to transform the Bank’s operations to a more seamless workflow eliminating manual processes;
Creation of new products or applications that promote cashless operations;
Integration of various functional modules that are not currently incorporated in the existing bank system, resulting in increased productivity;
Development of applications to promote agriculture and agri-value chain financing, MSMEs and women-centric financing;
Development of a digitally based innovative product marketing scheme;
Any other innovative digital products or service that results in increased impact on vulnerable sectors, the unbanked, and growth through digital transformation.

Cost of a one-time purchase of an annual license to use software;
Professional fees for software development;
Implementation costs, i.e., configuration, customization and/or installation of software;
Cost of an initial subscription for using a digital application, i.e., core banking system;
Purchase of hardware or physical equipment;
Expenses related to marketing, sales, and distribution to promote the technology product or service.