By THEPHILBIZNEWS STAFF
Having been at the forefront of Philippines’ financial technology even before the pandemic, FinTech Alliance Philippines advocates for financial inclusivity through adaption of various technologies such as mobile applications, software, and other innovative systems that provide efficient, secured, fast and seamless transactions across the globe for enterprises and consumers alike.
With the radical shift in the way of purchasing goods, FinTech Alliance in the Philippines welcomed its ten new members to its growing community, including Bank of the Philippine Islands (BPI), SGV & Co., SeaBank, SID Global, Collabera Digital, PisoPay, The Orange Company, Bureau Inc., and TIM Corp. These organizations join the ranks of the Philippines’ first and largest association of startup and unicorn digital and tech companies.
Since its establishment in 2017, the FinTech Alliance Philippines has been a pioneering force in the fintech ecosystem, representing over 100 corporations that collectively generate 95 percent of retail digital financial transaction volume in the country. As the first fintech organization in Asia to adopt a Code of Ethics and Code of Conduct, and having published the country’s first Taxonomy of FinTech in 2019, the Alliance continues to lead the way in digital finance innovation and regulation.
Maria Margarita D. Mallari -Acaban, Principal for International Tax Services in the Financial Services Organization of SGV & Co. said that the immense growth of the fintech sector in the Philippines and all over the world prompted the firm to invest its interest into joining FinTech Alliance.PH. “The digital revolution has reshaped the world around us, and the financial industry is no exception. As Fintech companies continue to emerge and evolve, they come with a promise of a more inclusive and efficient financial ecosystem. SGV, with its integrated solutions drawn from diverse and deep competencies, is uniquely positioned to assist this growing sector,” Mallari-Acaban said in a statement.
The Alliance also launched the first industry-led multi-sectoral cybersecurity awareness and education campaign tagged #WagMagpalokoMagingScamAlerto in partnership with the regulators, law enforcement agencies, media, and consumer groups. Among its partners include the Bangko Sentral ng Pilipinas, the Philippine National Police, the National Bureau of Investigation, the Department of Information and Communications Technology, and the Cybercrime Investigation and Coordinating Center.
Reflecting the rapid growth of the fintech industry, the Alliance is currently processing more than 50 pending membership applications. Through initiatives like the annual Philippine FinTech Report, the FinTech Alliance PH identifies key players and fosters an environment conducive to digital innovation and collaboration.
In 2023, the Alliance showcased the largest Bagong Pilipinas: The Philippines Country Pavilion at the Singapore FinTech Festival, which was attended by over 60,000 participants from more than 70 countries.
Looking ahead, the Alliance is gearing up for the Manila Tech Summit on AI Unlocked: Shaping Our Digital Future, scheduled for August 6-8, 2024, at the Manila Marriott of the Newport World Resorts. This summit explores emerging trends and changing customer behaviors in the digital landscape. Several strategic partners will be joining this biggest tech event in the country such as the Asian Institute of Management, Ateneo John Gokongwei School of Management, International Data Corporation, ASEAN Economic Forum, Asia FinTech Alliance, AI Global Council, and Philippine Marketing Association, among others.
“With cross-industry organizations joining our digital community, we are optimistic that our collective aim to innovate, adapt, grow, and thrive to stay on top of emerging trends and changing customer behaviors will further be amplified,” said Lito Villanueva, founding chairman of the FinTech Alliance PH and RCBC executive vice president and chief innovations and inclusion officer.
For more information about the Manila Tech Summit, please visit fintechalliance.ph