Page 76 - SAMENA Trends - October 2021

TECHNOLOGY UPDATES SAMENA TRENDS

TECHNOLOGY NEWS

Satellite Technology to Accelerate Financial Inclusion, Digital Finance

The Bangko Sentral ng Pilipinas (BSP) enhanced countryside connectivity, we benefit from digital innovations. Signed
sees the issuance of the implementing see previously unserved and underserved into law by President Rodrigo Duterte in
rules and regulations (IRR) on expanding areas being reached by digital financial August 2018, Republic Act 11055, or the
the provision of internet service through services, especially those designed for the Philippine Identification System Act, aims
satellite services as further promoting lower income segments, like remittances, to establish a single national ID for all Fili-
financial inclusion and digital finance in the bills payments and the opening of trans- pinos and resident aliens. The national
country. Issued under Department Circular action accounts,” BSP Governor Benjamin ID shall be a valid proof of identity that
No. 002, Series of 2021, by the Department Diokno said in a statement Thursday. shall be a means of simplifying public
of Information and Communications Tech- Internet connectivity is recognized as a and private transactions, enrollment in
nology (DICT) on sept. 28, the IRR aims to critical enabler of financial and economic schools, and opening of bank accounts.
promote the development of an inclusive inclusion as financial transactions and It will also boost efficiency, especially in
and vibrant satellite industry by liberalizing services shift to online platforms. With dealing with government services where
access to satellite systems. Expanded expanded internet service, banks, and people will only need to present one ID
access to satellite services is expected to other financial service providers (FSPs) during transactions. “These developments
accelerate the rollout of internet connec- will be able to better serve rural areas with will contribute towards the BSP’s finan-
tivity for the unserved, underserved, and more access points, such as automated cial inclusion targets, namely that first,
geographically isolated and disadvan- teller machines and cash agent services 70 percent of the adult population should
taged areas of the country. With the issu- that rely on internet connectivity. Mean- own a transaction account, and second,
ance of the IRR, banks, fintech companies, while, with the launch of the Philippine that half of all retail payments should be
and other financial sector entities will be Identification System and its electronic in digital form by 2023,” Diokno said. The
further guided in exploring ways of tapping know-your-customer facility, greater BSP encourages FSPs to seek opportuni-
into satellite technology for their opera- internet access will allow more unbanked ties from this policy reform for innovation
tions, particularly toward expanding pres- rural clients and low-income communi- and market expansion toward accelerating
ence in underserved communities. “With ties to use digital financial services and financial inclusion in the country.

XL Tests Huawei’s ‘RuralStar Pro’ Solution; Telkomsel Launches 5G in Papua

Indonesian mobile network operator advance of the XX Papua National Sports by presenting Trifecta Digital Telkomsel’.
(MNO) XL Axiata, working in partnership Week (PON) 2021. During the event, the During the test phase for the new 5G
with Huawei Indonesia, has carried public and visitors have been invited to use network in Papua, Telkomsel reported
out tests of a new wireless broadband the new 5G network as part of Telkomsel’s a download speed of up to 1Gbps with
solution dubbed ‘Huawei RuralStar Pro’, initiative ‘to strengthen an inclusive and latency of 8ms in trials in Sorong.
with a focus on exploiting its ability to sustainable national digital ecosystem
provide 4G LTE backhaul in rural areas.
The trial was carried out in Kalimantan
and the two parties said that it suggests
the solution will be useful in expanding
broadband connections to remote areas,
where so far there are often problems
related to limited backhaul access. The
RuralStar Pro trial yielded download data
transmission speeds of up to 106Mbps
over a distance of 31km. In unrelated
news, as part of its ongoing 5G network
rollout XL’s rival Telkomsel said it has
deployed next generation infrastructure
in Papua province, eastern Indonesia. the
MNO has reportedly installed equipment in

76 OCTOBER 2021