Regulatory Alerts2025-03-27 | 84250FSC Introduces Plan to Facilitate Entrustment of Banking Services to Improve Consumer Access to Financial Services
The Financial Services Commission announced a plan to introduce bank agency services and expand ATM and convenience store cash services to address declining physical branch access. The initiative authorizes specific entities to provide face-to-face banking functions on behalf of banks, with a pilot program launching under the regulatory sandbox before full legislative revision. Additionally, the FSC will incentivize joint ATM sharing and relax restrictions on small-sum deposits and withdrawals at convenience stores to enhance financial inclusion for vulnerable consumer groups.
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