Digital Pilipinas, together with the Singapore FinTech Association — a cross-industry, non-profit initiative intended to be a platform designed to facilitate collaboration between all market participants and stakeholders in the FinTech ecosystem — and, the National Development Company, the leading state-owned enterprise investing in diverse industries, mounted the “Championing Sustainable Finance and the Startup Community in a Digital Pilipinas” event.
The event took place on the 11th of August in Caruso Ristorante Italiano, Makati where the startup community, partners, co-convenors, and friends gathered for an afternoon of meaningful insights, exciting innovations, and promising pitches set amidst good food and great company.
Reuben Lim, Singapore Fintech Association’s Chief Operating Officer graced the event as the guest of honor. Lim said: “Over the course of 5 days, we interacted and exchanged opinions with influential sectoral bodies like Digital Pilipinas. There was plenty of laughter and networking as we got to know the delegates as well as the Philippines afresh. The mandate, the call, and the force for financial inclusion are strong in this country, supported by the push for open banking. I hope our delegates manage to seize the opportunities.”
Formally opening the program was Amor Maclang, Convenor of Digital Pilipinas. “The Filipino voice is the pulse of the digital economy. Our thoughts and opinions matter, and they have the power to guide brands, legislators, and the government. Digital Pilipinas is coming up with original research on that, together with one of our partners, to help shape the future of the digital economy for the benefit of all Filipinos,” Maclang said.
The event also served as a venue to discuss the recent trends and developments in the industry and to give examples of how fintech, when combined with the power of innovation and sustainability, can be applied to address real-life challenges, Vincent Tobias, Head of Innovation of Ayala Corporation shared some case studies.
Ayala Corporation is one of the oldest conglomerates in Southeast Asia. It has been around for 190 years and has always been known for its discipline and corporate governance. However, in recent years, Ayala has realized that it needs to be more innovative.
To do this, Ayala created a corporate innovation unit in 2012. The unit’s mission is to help Ayala’s subsidiaries “evolve their portfolios and business models” in order to “thrive in the digital age.” By creating a corporate innovation unit, Ayala has been able to identify and invest in new technologies and businesses that have the potential to also help the Philippines achieve financial inclusion. Tobias said, “We want to be an aid to the BSP’s goal of getting 70% of Filipino families banked. And thanks to our current back channels and new digital channels, we’re well on our way to achieving this goal.”
The fintech industry is rapidly changing the way people access and manage their finances. Fintech companies are developing innovative new products and services that are making financial services more accessible and affordable for everyone, regardless of their income or location.
By working together, stakeholders in the fintech industry can create a fintech landscape that benefits everyone. They can make financial services more accessible, affordable, and sustainable for all, regardless of their income or location.
On the other hand, as startups stay up to date on the latest trends, especially with the current digitalization, industry leaders expressed that it is also important to remember that not all trends are created equal. Dennis Gatuslao, Chief Commercial Marketing Officer of Bayad, during the pitch fest last August 11 said, “Startups can harness digitalization to understand their target market, create a distinct value proposition, and enhance customer experiences. Rather than simply following trends, strive to provide unique value to your customers. Assess your market position and discover how you can stand out. That could be a good start.”
Gatuslao was joined by AJ Rocero, Executive Director of the Proptech Consortium of the Philippines, Antonilo Mauricio, General Manager of the National Development Company (NDC), Thomas Cheung, Managing Partner, Global Associates Consultancy, Francis Henares, Chief Executive Officer of Inventi Philippines, Abu Rahman, Chief Executive Officer of REPHIL, William Seow Synfindo, Head of Business Development and Partnerships, APAC SG Delegate of Singapore Pte Ltd, Christian Reyes, COO of Dragonpay, Thomas Cheung, Managing Partner of Global Associates Consultancy, Martin Peñaflor, Chief Executive Officer of Tangere, Olivier Bariou, Chief Executive Officer of Doconchain, Batbaatar Purev-Ochir, Head of Sales & Marketing of AND Solutions, and Rajan Narayan, Chief Executive Officer – Cyberbeat.
These individuals represent a diverse range of industries and perspectives, which made for a stimulating and informative discussion. They discussed the latest trends in digitalization and sustainable finance, and how these trends are impacting the Philippines and the world.
Fintech and digitalization for startups have the potential to be a positive force for change in the world. They can make services more accessible and affordable for everyone, regardless of their income or location. They can also help to make services more sustainable and environmentally friendly.
The Digital Pilipinas Festival (DPF) and Philippine Fintech Festival Year 2 (PFF), happening on November 21 to 24, is an event that is focused on exploring the potential of fintech to make a transformative impact. The festival will feature a series of talks, workshops, and networking events that will bring together fintech leaders, entrepreneurs, and policymakers from around the world.
Positioning the Philippines as a leading destination for fintech investment and innovation, this year’s Digital Pilipinas Festival and Philippine Fintech Festival will feature more than 20 countries’ delegates in attendance, thus being recognized as the largest digital economies event that placed the Philippines at the forefront of the global digital economy revolution.