MANILA, PHILIPPINES – Fintech Alliance.PH, the country’s foremost fintech organization, took significant strides in enhancing its collaboration with the Bangko Sentral ng Pilipinas (BSP) during a recent courtesy visit, further cementing their commitment to sustaining a robust digital ecosystem.
The meeting also served as a platform for presenting key milestones of the fintech industry through the 2023 Philippine Fintech Report.
BSP Governor Eli Remolona Jr. and Fintech Alliance.PH mutually agreed to collaborate on creating a comprehensive system, building upon the successes of the Digital Payments Transformation Roadmap. This roadmap aimed to digitize 50% of retail payments by the previous year’s end and onboard 70% of adult Filipinos into the formal financial system. The Alliance highlighted the upward trends in digital adoption, and the Philippines FinTech Map 2023, showcasing 285 fintech companies.
Expressing optimism and enthusiasm about the collaboration, Fintech Alliance.PH Founding Chairman and RCBC executive vice president and chief innovation and inclusion officer Lito Villanueva emphasized effective collaboration between the organization and the government. He underscored the importance of regular updates in the relationship, foreseeing their relevance in shaping the future trajectory of the fintech industry.
“We are deeply grateful to Governor Remolona and the BSP Monetary Board for the sustained collaboration and the opportunity to be a dependable partner in realizing our shared vision of having a robust and sustainable digital economy,” said Villanueva.
“As the Philippines advances to greater levels of digitization, we believe that our shared vision, talents, skills, and mission will play a crucial role in charting new paths toward a digitally inclusive and empowered nation,” he added.
During the visit, BSP Governor Remolona Jr. officiated the oath-taking ceremony of FinTech Alliance.PH trustees, comprising notable industry figures and experts. Among them were Zdenek Jankovsky of Home Credit Philippines, Griselda G. Santos of water.org, Lawrence Y. Ferrer of CIS Bayad Center, Imelda C. Tiongson of Pru Life Insurance Corporation U.K. Philippines, Mario Jordan F. Fetalino III of UBX Philippines Corporation, Jong Layug representing Oscar Enrico A. Reyes, Jr. of GCash, and Richard B. Alikpala of Ayannah Business Solutions, Inc. Other trustees include Allen Guo, Alibaba Cloud (Singapore) Private Limited Country Head – Philippines; Deanno Basas, ATRAM Trust Corporation/Seedbox – CEO; Martha Elaine Borja, Grab Financial Group Philippines Country Head; Oscar Reyes Jr., G-Xchange Inc. President and CEO; Angelo Madrid, Maya President; and Wei Zhou – Coins.Ph Chief Finance Officer.
The Committee on Regulatory & Legal Affairs chairman Atty. JJ M. Disini of Disini and Disini Law Office, BSP Director Melchor T. Plabasan, and BSP Assistant Govenor and Chief of Staff Pia Bernadette Tayag were also present during the visit.