As the Philippines continues to experience rapid digital transformation, new opportunities for collaboration between the UK and the Philippines are emerging, particularly in the areas of regulatory technology (regtech) solutions and digital identity verification, His Majesty’s Ambassador to the Philippines, Laure Beaufils, said.
In her speech at the opening of the UK-Southeast Asia (SEA) Tech Week in Manila earlier this week said fintech, cybersecurity, and digital services are positioned to play a crucial role in enhancing the country’s growing digital economy, which is seen as one of Southeast Asia’s most promising.
“The UK is one of only three countries with a trillion-dollar tech economy. The UK tech sector is by far and away Europe’s leading ecosystem,” she said.
With its rapidly expanding tech ecosystem, the Philippines is becoming an ideal partner for UK firms looking to invest and collaborate in digital transformation. The country’s burgeoning digital economy provides a strong foundation for companies to innovate and scale.
She pointed to companies like Wise and NCC Group, both of which have established a presence in the Philippines to contribute to the country’s financial inclusion efforts.
“Wise, known for making cross-border transactions faster and more affordable, and NCC Group, a global leader in cyber risk management, have already opened offices in the Philippines, ready to support the Philippine’s Financial Inclusion story,” Ambassador Beaufils said.
Given its significant growth in its digital infrastructure with a strong push toward innovation, the Philippines is also seeing a surge in the adoption of digital technologies across sectors, from government services to business operations. These, the ambassador said, create ample space for international partnerships.
Furthermore, the Philippines’ commitment to financial inclusion and digital security creates a welcoming environment for UK businesses with expertise in areas like cybersecurity and digital banking.
“We are committed to strengthening our tech partnerships, and we invite all of you to be part of this journey,” she said, encouraging Philippine-based attendees to connect with the 12 UK companies participating in the event, which include experts in data analytics, IoT, cybersecurity, consulting, and AI for enterprise.
Regtech, a sector that combines regulatory compliance with cutting-edge technology, has become particularly important as businesses and financial institutions seek ways to streamline processes and ensure they meet regulatory standards. Digital identity verification is also growing in prominence as a tool for enhancing security, streamlining transactions, and ensuring trust in an increasingly digital world. Veronica Uy
