The Bangko Sentral ng Pilipinas (BSP) has teamed up with one of the Philippines' largest online financial communities, KasKasan Buddies, through its digital financial education platform PisoLit, in a push to strengthen financial literacy among Filipinos.

Under the partnership, BSP will collaborate with KasKasan Buddies to produce social media content and conduct learning sessions, according to Marianne M. Santos, Director of the BSP Economic and Financial Learning Office.

"We will co-develop content for social media that both of us will co-share. So, we will do the content, we will disseminate, we will do some learning sessions with them," Santos told BusinessWorld on the sidelines of the partnership's launch on Tuesday.

"There will be a lot of initiatives, it's not just social media. But it's more of content and dissemination across different channels," she added.

Speaking at the launch event, BSP Deputy Governor Bernadette Romulo-Puyat highlighted that while digital payment channels have become increasingly convenient, they also introduce risks to consumers' financial well-being.

"So, (with) a few taps on your phone, you can pay bills, transfer money, apply for credit, and even invest in PERA (Personal Equity and Retirement Account)," she said. "But those same taps can also lead to impulse purchases, overspending, debt, or even scams."

Romulo-Puyat emphasized that the partnership with KasKasan Buddies is designed to help Filipino consumers navigate these threats and enhance their financial literacy.

"The goal is to help Filipinos understand how financial products work, know the features of financial products that fit their needs, and learn how to manage risks through platforms where they are having conversations," she said.

"We are excited to begin this collaboration and work together toward a future where every Filipino is empowered to make informed, confident, and responsible financial decisions," she added.

Jacques Yves "Jax" Reyes, Corporate Secretary and Co-Founder of KasKasan Buddies and a content creator, said the collaboration will enable both organizations to expand the reach of their financial education initiatives.

"We are collaborating with the BSP through PisoLit to reach more Filipinos and to inspire more of you," he said. "Sometimes, we just need a little push — and that is exactly what this partnership is about. It's about giving people that push in a way that is real, accessible, and truly reaches them."

KasKasan Buddies maintains a Facebook page with over 580,000 followers and a private Facebook group with approximately 1.3 million members, giving the partnership a combined social media audience of nearly two million users where financial conversations are already taking place. The community's content covers credit card and travel deals, as well as financial technology guides. It also offers a dedicated mobile app.

PisoLit serves as the central bank's official financial education platform, providing guidance on financial management and consumer protection. Its focus areas include budgeting, saving, responsible credit use, scam awareness, and cybersecurity — topics that align directly with the risks Romulo-Puyat identified as digital payment adoption expands.

The initiative follows BSP's broader strategy of partnering with private sector organizations and government institutions to extend the reach of financial education beyond traditional channels, leveraging established online communities where Filipinos already discuss credit cards, digital banking, and consumer finance.

"The collaboration supports the BSP's continuing efforts to work with the private sector and government institutions to expand financial education and help more Filipinos make informed, responsible, and confident financial decisions," the central bank said in a statement.

— Katherine K. Chan