Rico Bautista, PLIA President and Etiqa Philippines President and CEO, shared insights on the company’s innovative technological solutions and its commitment to serve customers well through various digital touchpoints. He said, “We need to be able to provide excellent customer experience. What we have done is even before the pandemic hit, we were already developing our app-based solutions.” He added,” Environmental, Social, and Governance (ESG) is something that all of us should be pursuing. Digitalization and being part of Digital Pilipinas and being part of the Healthtech and Insurtech associations allow us to push forward that ESG concept and initiative that we all should be having. We want to be at the forefront of this because we are serious about sustainability and ESG.”

Meanwhile, PLIA General Manager and Data Protection Officer George Mina discussed the significant changes in the insurance industry in the sphere of digitalization. “The most significant is being able to sell life insurance on a digital basis. It used to be a face-to-face thing. If you look at the websites of life insurance companies, they’re getting more and more personalized (in terms of) branding of digital assistance.” 

Hyper-personalized digital banking solutions provider Inypay Founder and CEO Arivuvel Ramu talked about the insurance onboarding platform and the potential for InsurTech growth. He said, “If you look at Insurtech on a global scale, it’s a $83B market share as of 2022. By 2028, the prediction for micro-insurance alone is $118B global market share. Out of that, if you look at Southeast Asia alone, as of 2022, it’s a $3B worth of market and by 2028, the potential market to grow is by $8.4B just for the microfinance sector alone.”

Metro Pacific Health Tech mWell Chief Marketing & Commercial Officer Gary Dujali shared the company’s initiatives to support the growing Healthtech industry of the country as a fully integrated and fully digital health and wellness platform. He said, “This is a fully integrated app experience. We’re in that space where we need to digitalize and bridge the digital divide. This app is that. From the time you select a doctor, all the way towards buying your medicine, and delivered straight to your house.” 

The event also served as a venue to discuss the initial research findings of The Voice of Digital Pilipinas, a collaborative undertaking by Digital Pilipinas, Global Fintech Institute, and Tangere that aims to give a democratic voice to Filipinos. Focusing on cybersecurity and data privacy, the first research revealed that government agencies are the most trusted application platform in terms of mobile applications. Tangere CEO Martin Penaflor said, “This serves as an opportunity for the Philippine government. The trust factor is really high, with 3/5 Filipinos preferring government agency applications. This is followed distantly by applications from e-wallets and bank applications.”

The Voice of Digital Pilipinas will be coming up with research on different topics including InsurTech and HealthTech to uncover the pulse of the Filipinos in various industries.

Digital Pilipinas Convenor Amor Maclang emphasized the need to support local players in the InsurTech and HealthTech sectors of the country which are also two of the very important work streams of Digital Pilipinas. 

Maclang said, “Health and insurance are two very important aspects of our work. We will be having a series of programs for both HealthTech and InsurTech and grow these industries domestically. We are working on a possible execution of smart contracts and blockchain in the insurance space. There will be a pitch fest and a hackathon because we realize that many of the InsurTech players are foreign. We hope to encourage many InsurTech founders coming from the Philippines and coming from ASEAN to join the pitch fest and hackathon and be part of the Digital Pilipinas Festival x Philippine FinTech Festival happening in November.”

By fostering cooperation among sector leaders, key players, and advocates, a more inclusive and sustainable Insurtech and Healthtech industry can be achieved for the benefit of Filipinos. When insurance, health, and technology converge, they have the potential to bring about positive change in society and contribute to nation-building.

InsurTech and HealthTech are two of the key industries that will be given focus on at the upcoming Digital Pilipinas Festival x Philippine FinTech Festival happening on November 21-24, 2023, at SMX Aura and in various co-located venues and innovation hubs across the country. To register for the festival, please visit https://digitalpilipinas.ph.

Through this partnership, Digital Pilipinas and GFI have committed themselves towards launching various initiatives aimed at building expertise amongst fintech professionals. Such initiatives include GFI being the content adviser and certification partner of the upcoming Digital Pilipinas Festival and Philippine Fintech Festival Year 2 this October 2-5, 2023, at the SMX Aura, Taguig City.

Digital Pilipinas Festival and Philippine Fintech Festival attendees will be awarded GFI certifications – one of the most widely accepted global certifications on FinTech. These certifications are directly connected to the exclusive C-suite masterclasses on frontier technologies – Smart Cities & PropTech, Digital Finance, Open Economy & Lending, Big Data, AI Industry Applications, InsurTech & HealthTech, and TrustTech (Cybersecurity & GovTech) – that are slated to take place throughout the festival.

GFI has also appointed Digital Pilipinas Convenor Amor Maclang as Honorary Global Lead for its community partnerships and engagement.

In the appointment letter signed by GFI’s Co-founder and Chair, Prof. David Lee, he cited Maclang’s passion, unique perspectives, and extensive experience in developing digital ecosystems particularly with Digital Pilipinas. In her new role as Honorary Global Lead, she will be responsible for fostering relationships, mentoring, guiding community partnership and engagement strategies.

Global FinTech Institute is a Singapore-based think tank regarded as the leading global industry organization for the advocacy, collaboration, knowledge, and inclusive use of FinTech. It empowers its members and community to leverage FinTech for growth and transformation via community engagements, facilitating collaborations and knowledge-sharing, promoting best practices and co-developing standards and guidelines for the fair use of Fintech, and by providing education and training to build industry capabilities and groom talents in FinTech.

Maclang brings extensive experience in digital innovation to her new role with the GFI. Through her work with Digital Pilipinas, she works closely with local government units, national line agencies, private sector and industry leaders, and multiple country partners to implement creative solutions that address industry challenges through digital transformation initiatives.

“I am humbled and honored to be appointed as the Honorary Global Lead for GFI. I look forward to this great opportunity to drive impactful change and unlock unprecedented opportunities for individuals and economies as we help shape the future of FinTech globally,” said Maclang on her appointment.

In addition to her work with Digital Pilipinas, Maclang is also the Convenor of the Philippine Fintech Festival and is co-founder of One ASEAN Fintech Movement and GeiserMaclang – the leading company in special situations, risk, issues, and crisis that specializes in high-impact, high risk, high-value and highly regulated industries specifically in the technology, renewable energy, public health, tourism, urban planning, and the financial services industry.

With this appointment from GFI, Maclang joins a network of leading professionals from around the world who are committed to advancing digital transformation and financial inclusion worldwide.

To learn more about the Global FinTech Institute, visit https://globalfintechinstitute.org
To learn more about Digital Pilipinas, the Digital Pilipinas Festival and Philippine FinTech Festival Year 2, visit https://digitalpilipinas.ph

Makati City is gearing up to become the Silicon Valley of the Philippines by energizing and providing the needed support for start-ups. This is in response to Metro Manila’s low ranking in the latest Global Startup Ecosystem Index (GSEI) highlighting that start-up founders need business-related education for sustainability and growth. Partnering with the RONIN Group of Companies and Digital Pilipinas, Makati’s local government launched the Resiliency Innovation Sustainability and Entrepreneurship (RISE) Challenge, an incubator program offering cash grants 12-week entrepreneurship training, and a chance to pitch to qualified investors. 

Welcoming this initiative is Mayor Mar-Len Abigail “Abby” S. Binay, whose progressive public-private partnership (PPP)-led initiatives on digital transformation have prepared Makati to model an ideal startup ecosystem. Her integration of modern technology into the systems and operations of the city government promotes transparency, makes public services more efficient, and enhances its overall competitiveness; examples are the Makatizen Card, Makatizen App, and Makati Public Wi-Fi System. Her vision for “the Philippines to rank higher in the startup international scene” aligns with her new partners’.

Since its launch in 2018, RONIN has been helping startups succeed by providing them with financial training as well as the necessary tools to track and use their data efficiently to their advantage. Yani de Guzman, RONIN CEO and Co-founder, elaborates on their support for the RISE Challenge: “Our deep involvement in this campaign is grounded on the strong conviction that Filipino startups can be at par with most unicorns in Asia. Winning the Challenge does not end in simply taking the money home. The training opportunities will equip the winners to succeed as entrepreneurs.”

Amor Maclang, Convenor of Digital Pilipinas, the largest private sector-led movement to tech up the country, agrees, “Digital Pilipinas is a platform that supports the rapid growth of the Philippine startup ecosystem. A venture capital study of the Philippines found that startups raised over $858 million in fresh funding at the height of the pandemic last year—nearly the same amount raised in the previous three years combined. Without a doubt, the Philippines is catching up with its ASEAN neighbors and on its way to becoming a startup hub.”

The RISE Challenge will launch on February 24, 2022 and the call for application will run until the 25th of March. The finalist announcement will take place on March 31, and the qualifying event on April 8. This program will give contestants the opportunity to learn about Finance, Legal, Marketing, Organization-Building, and Effective Pitching, directly from the most qualified educators and experienced industry practitioners. The winners will also receive the following prizes: a Php500,000 equity-free grant; 12 weeks of entrepreneurship training, and guided pitching to sought-after investors.

De Guzman adds, “This program is the first in the Philippines. We are very excited for this partnership to produce bold entrepreneurs who will lead thriving startups in the country – producing more jobs and offering products and services that empower Filipinos to have better lives.”

RONIN is deeply involved and passionate about the development of the startup community. The company joined the screening committee of Manila Angel Investors as well as the startup programs of the Department of Science and Technology (DOST), StartUp Village, and Draper House. The organization is also a consultant to Hello PH, a travel and tourism company focused on ecologically responsible diving for foreigners; and Project Fort, a medical data analysis firm, among others.

Mayor Binay encourages startup owners to let their businesses thrive in Makati with its innovations that have been recognized by national and international bodies advocating sustainable, green, and inclusive development.

She says, “I would like to invite all creative Filipinos to bring your businesses to Makati. Here, we provide a competitive environment, fantastic co-working spaces, tax breaks, business registration assistance, and a reliable mentoring program. Makati will even take it further by giving you an equity-free grant of PHP500,000. Finally, we will give you an opportunity to fund your businesses by presenting you to qualified investors at the end of the program. Join us in the RISE Challenge.” 

To be part of the growing community of startup trailblazers, click on https://www.rise-program.com/be-a-participant for more details.

Digital Pilipinas (DP), the largest private sector-led movement to create an ecosystem build for the country, inked a Memorandum of Understanding with the Department of Science and Technology (DOST) to layout strategies in establishing university-based innovation centers across the Philippines. 

The MOU, signed by DOST Secretary Fortunato dela Peña, Dr. Enrico Paringit, the executive director of the DOST- Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD), and DP Convenor Amor Maclang, highlights DP and DOST’s direction of a regional approach to innovation and technology. Sopnendu Mohanty, Chief Fintech Officer at the Monetary Authority of Singapore (MAS), witnessed the event during DP’s virtual Nascent Technology Summit.

The agreement came a month after DP sealed a tripartite collaboration with Mapúa University and the DOST-PCIEERD to launch the Think and Tinker Laboratory – Technology Business Incubation (TBI) program in promoting academe-industry-government collaboration. TBI was the pilot project for the university-based innovation centers.

“We must do more to empower problem-solving on a regional level. Problems are best solved by the people who experience those problems. That is what makes the DOST and the PCIEERD so critical,” Maclang said during the MOU signing, highlighting the collective efforts of the government and the private sector to create policies and revenue-generating streams to support the different digital equity initiatives.

She went on to say, “They have the power to provide direction in designing the nation’s digital blueprint and eventually a digital ecosystem. We will continue to follow the MAS as our model for how to capacitate and support innovation as we apply those systems to the Philippines.” 

In his address, Secretary dela Peña noted that while the country has a string of fintech developments, particularly in the digital payments and logistics spaces triggered by the Covid-19 pandemic, the Philippines still lags its ASEAN neighbors.

“As we continue to revolutionize technology, we should keep our advancement inclusive and accessible. We thank the Digital Pilipinas, under the leadership of Ms. Maclang, for the help as we reach the corners of society. We believe that the private sector is key in achieving our goals through collaboration,” Dela Peña said.

Dr. Enrico Paringit, the executive director of the DOST-Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD), is proposing an “Innovation Council” to “share meaningful discourse among movers.”

“We need to fast track the developments of innovation and technology,” Paringit said. “Digital commerce is on the rise, and some businesses thrived during the pandemic. We must also prepare the Philippines for smart technology cities where citizens have the freedom to make choices.”

Web 3.0

During the event, Mohanty discussed how the transition to Web 3.0 is changing our perspective on how the world will conduct business. In addition, the shift to the so-called Internet of Trust and Internet of Money would benefit the consumers more and allow the application of emerging technologies that will create opportunities we have not thought of yet.

“As futurists and technologists, we bring a lot of new terms. The shift towards Web 3.0 is about data inclusion, and it is more consumer-based on how data will be used, the use of blockchain, and the future of money to more emerging areas,” Mohanty said.

He added that as an emerging area, “we are learning together, both private and public sector, about its potentials.”

Todd Schweitzer, co-founder and CEO of open banking technology provider Brankas, shared that the Philippines is an interesting point for Web 3.0 because, despite the number of emerging digital banks and investment opportunities in the region, a majority of adult Filipinos remain unbanked.

Estimates by the Bangko Sentral ng Pilipinas (BSP) put the number of unbanked Filipino to 70% of the adult population. This number offers opportunities to the financial sector to provide these unbanked and underserved sectors with financial services.

“Many Filipinos are unbanked,” Schweitzer said. “While some are banked, meaning they have bank accounts but are underserved. They get their salary, and they take the money out. With the growth of play-to-earn such as Axie Infinity, we see a lot of Filipinos, especially younger ones, building wealth with the use of cryptocurrencies. By providing APIs that allow the growth of these economies using blockchain technology, Web 3.0 plays a significant role in decentralizing and democratizing assets.”

Innovation centers

In January, DP, the DOST-PCIEERD, and Mapúa University signed an agreement to launch the TBI to carry out an innovation mandate to support startups in developing products and services that utilize emerging technologies, while promoting innovation by providing all the necessary resources and support.

During the launch, Mapúa University President Dr. Reynaldo Vea said, “We thank the DOST for the Technology Business Incubation program. We hope to contribute to the technology commercialization significantly, and we will strive to mobilize Mapúa’s talents, not only our students but also our faculty members, researchers, graduate schools, and undergraduates to support the incubation initiative.” 

The Nascent Technology Summit aims to oversee a host of emerging technologies designed to revolutionize how we interact with the world. 

By teching up the country, the need to regularly use designated devices, such as mobile phones and laptops to access the internet will be significantly reduced as the technology needed to run our lives is readily accessible in everything around us.

Digital Pilipinas, the largest private sector-led movement to tech up the country and the French Chamber of Commerce in the Philippines, in partnership with La French Tech, kicked 2022 with a Startup Pitch Competition featuring nine Filipino and French startup companies to pitch their ideas to gain the interest of investors while expanding their networking opportunities. Experts said this is a good time for early-stage ideas as we are now in the “golden era of venture capitalist.”

Nine Filipino and French early-stage startups presented their innovative ideas from health, fitness, and real estate to machine-learning solutions to potential investors at the virtual Startup Pitch Competition launch. 

The French Chamber of Commerce and Industry in the Philippines (CCIFP), in partnership with La French Tech Philippines and Digital Pilipinas, launches the competition powered by CCIFP and La French Tech. This virtual pitching tournament aims to provide an avenue for French and Filipino tech startups to present solutions to many of the salient issues currently faced by the country. Digital Pilipinas is the biggest privately-led movement to champion the digitization of the Philippines.

“This pitching contest is an illustration of a continuous action of the French Chamber to link Filipino, and French businesses,” French Ambassador to the Philippines H.E. Michèle Boccoz said in her opening remarks. “Amid the Covid-19 pandemic, it is the best time for us to see what needs our attention and how businesses can help. Innovation and creativity brought by startups are crucial.”

The French Ambassador also cited a study by Core Venture Capital, which showed massive growth in the Philippines startup ecosystem, raising $858 million in the first ten months of 2021, or 97.83 percent of the total equity raised from 2017 to 2020. 

She went on to say, “The Philippines ended 2021 as the fastest-growing internet economy in Southeast Asia, posting a gain of 93% from 2020.”

Marie-Maylis Charlat, CCIFP Managing Director, expressed hope that the competition could provide a platform for early-stage startups to network with investors.

“We hope to create a platform for startups and investors to meet, and the audience can also engage themselves by meeting each other,” she said.

Indeed, pitching competitions is what skydiving is to startup entrepreneurs. To most people, it is like a bucket-list item that is both exciting and terrifying. 

During the competition, startups were given time to pitch to multiple investors, allow them valuable exposure, and get invaluable feedback. They can also expand their network and potentially build partnerships. But most importantly, the rising entrepreneurs are allowed to secure funding and accelerate their business. 

Speaking as Convenor of Digital Pilipinas and a Board Member of the CCIFP, Amor Maclang implored those present that 2022 is a make or break for the Philippines — with two of the largest economies in the world on the brink of inflation — in addition to collapsing properties. Also, the country is on the verge of an inflation rate increase because of rising meat prices. Even the Bangko Sentral ng Pilipinas (BSP) predicted 2021’s full-year inflation would exceed its 2-4% target band.

“We hope to be able to raise innovation in technology for the country. Digitally-enabled platforms are seen to influence business value in the next decade. The digital economy of the Philippines can create up to P5 trillion in value through digital transformation by 2030, equivalent to 27% of the country’s GDP (gross domestic product),” Maclang said.

She added that the changing of the guards in the coming May 9 elections could be a source of interest.

From promise to practice 

Following the competition proper is a networking session that will facilitate an exchange of thoughts and ideas and allow the event’s diverse participants — students, community builders, investors, executives, and founders alike — to connect and leave lasting impressions. 

Altogether, the event was envisioned as a vehicle for seizing and actualizing opportunities, big and small: pitching a startup venture or sharing ideas with like- and differently-minded individuals from various backgrounds. 

Teching up 2022

As the largest sector movement to tech up the country, Maclang said Digital Pilipinas is dedicated to catapulting us into a brighter new year. The movement has brought together hundreds of businesses, tech leaders, and policymakers to make this possible. It is a tech-empowered and advocacy-based movement offering an ecosystem that supports and amplifies the startup community as a single group. 

In a span of six months, Digital Pilipinas hosted 48 core events participated by speakers across Asia-Pacific and partnered with global leaders including Proxtera, the National University of Singapore (NUS), and the ASEAN Financial Innovation Network Ltd. (AFIN). This allowed Digital Pilipinas to sponsor 300 scholars on a Web 3.0 program.

The movement will launch an API platform and Web 3.0 power in the coming days. The objective is the Internet of Trust and the Internet of Money. 

“We are bringing in the world’s experts, and we are happy to partner with CCIFP to tackle our country’s challenges,” Maclang concluded.

Digital Pilipinas is partnering with Mapúa University to support the DOST-MAPUA Think and Tinker Laboratory – Technology Business Incubation (TBI) program in promoting academe-industry-government collaboration. 

The tripartite collaboration among Digital Pilipinas, Mapúa University, and the Department of Science and Technology – Philippine Council for Industry, Energy, and Emerging Technology Research and Development (DOST-PCIEERD) aims for a whole-of-nation approach in creating an innovative education technology (edutech) ecosystem through the mass adoption of emerging technologies.

Mapúa University President Dr. Reynaldo Vea said, “We thank the DOST for the Technology Business Incubation program. We hope to contribute to the eTechnology commercialization significantly, and we will strive to mobilize Mapúa’s talents, not only our students but also our faculty members, researchers, graduate schools, and undergraduates to support the incubation initiative.” 

Mapúa is one of the universities supported and funded by the DOST-PCIEERD under its Higher Education Institution Readiness for Innovation and Technopreneurship (HeIRIT) Program by creating the TBI, added PCIEERD Executive Director Dr. Enrico Paringit.

TBI will carry out an innovation mandate to support startups in developing products and services that utilize emerging technologies to promote innovation by providing all the necessary resources and support, including the use of its facilities, mentoring and networking, and business matching to be able to grow and evolve into a mature business.

“We are proud to support this tripartite collaboration with Mapúa University and DOST-PCIEERD to pilot their university-based innovation hubs,” Amor Maclang, Convenor of Digital Pilipinas, commented. 

“Digital tools are transforming key elements of the education spectrum. Understanding how they are disrupting teaching and learning will give us the knowledge which tools to use and how best to implement them,” Maclang added, who is also the Convenor of the World Fintech Festival, Trustee and Executive Director at Fintech Philippines Association, and Co-Founder of GeiserMaclang Marketing Communications Inc.

Maclang is appointed as Advisor to the Mapúa Technology Business Incubator. The parties have agreed to develop collaborative Research and Development projects, including the creation of Micro-Certification Courses within the Digital Pilipinas Academy in cooperation with the Mapúa Technology Business Incubator. 

Currently, Digital Pilipinas has a partnership with a Singapore-based certifying body Affinidi for Web 3.0 certification. The deal calls for the development of micro-certification courses to be hosted on the APIX Oxygen platform developed and operated by AFIN. 

In 2021, Digital Pilipinas achieved a crucial milestone when it partnered with the Monetary Authority of Singapore (MAS) to launch the World Fintech Festival Philippines (WFF PH), which also saw the signing of the expanded Fintech Innovation Function Cooperation Agreement between the Bangko Sentral ng Pilipinas (BSP) and MAS. The deal enhances cross-border payments between Manila and Singapore while bringing closer the ambition for an ASEAN network of interconnected real-time payment systems.

Maclang added that her group would use the BSP and MAS model to develop sandboxes with national line agencies to accelerate innovation, in alignment with regulatory policies in tandem with Proxtera, APIX, and Oxygen. 

Participating mentors provided insights on the different digital tools that could play a critical role in promoting education technology. 

Pieter Franken, APIX: “Learning is an open experience. You can only learn with an open mind, collaborating, and connecting. You cannot learn in a vacuum. The world is very complex, and there is no way to understand all of it — you have to interact with parts of it. API allows you to connect with those parts. Learning and understanding the power of APIs will allow us to move faster by being smarter, and not working harder. That is a huge advantage. It is imperative that young students in the Philippines learn about these things. Through an open ecosystem, such as in APIs, collectively, we can learn and address the problem.” 

Todd Schweitzer, Brankas: “What’s most important in the financial services industry here in the Philippines is understanding what is changing. Through Open Finance and API, you are allowing for the financial services and products to be separated from the channels that the banks own. It allows for a better customer experience and creates competitiveness among banks.” 

Constantin Robertz, Locad: “The supply chain work should be considered part of the educational curriculum, and it is one of the key drivers of inflation, and a lot of it happens because some days it costs ten times more to transport from point A to B. We need supply chain professionals and logistics overall—-and these are recession-proof professions. We need to create employment, specialization, and graduate programs and make the supply chain part of engineering and business courses curricula.” 

Nauman Mustafa, Coins.ph: “Blockchain has evolved over the last several years. The public has finally agreed that it is not just about Bitcoin. Now, we have Web 3.0, and even Metaverse. It is essential for students, and even the education sector to understand smart contracts, cryptography, and the fintech world. We are now seeing Axie Infinity powered by the Blockchain. There have been a lot of studies showing that the Blockchain improves the verification process that a student has earned a certain certification.” 

Abid Zaidi, Microsoft Philippines: “This is the right time for startups in the Philippines to think of possibilities. Both the global and local markets support the trends, and the startup ecosystem is growing fast. One of the advantages of the Philippines is the talent and basic foundation, which are already there, although they need upskilling. But we need to understand and come together where we will focus. That is extremely important because the resources are scarce. When we look at the global acceptance of startups, AI And big data are showing a lot of promise and advanced manufacturing in robotics.” 

Kim Lato, KimStore: “eCommerce is how we help improve and uplift lives. More people we reach with tech and education means more Filipinos who can recognize and seize opportunities, further nurturing the Pinoy entrepreneurial spirit.” 

Atty. Mark Gorriceta, Gorriceta Africa Cauton and Saavedra Law: “We regularly work and collaborate with innovative individuals who always bring technological methods that stretch the existing laws and regulations. We are challenged to see if existing laws and regulations can address these tech platforms or retrofit the business model to what is permissible in Philippine law. Our job is to help our lawmakers shape the Philippine tech framework, to create more opportunities, improve our economic conditions.” 

Marco Yuchengco Santos, Mapúa University: “In Digital Pilipinas, most professors will be practitioners in the industry. Teachers today take their own industry experience for granted, so what they teach is academic, not the real world. Working with DP and its partners, we can find a new venue for industry practitioners to teach what is happening in the workplace. The industry practitioners know what the market needs because they experience it themselves.”

The call for the Philippines to achieve energy security and independence has been one of the national issues that has been pushed to the forefront. As the energy industry is faced with the challenge of supplying steady power to communities across the Philippines given the fact that the pandemic has been affecting all the industries everywhere.

Benchmarking from other environmentally-conscious nations, the Philippines is gearing up to the bandwagon as it sees the necessity and wisdom to adapt from fossil fuel to renewable energy (RE), by developing our own indigenous energy resources to create a more sustainable, independent industry that is not dependent on imports.

Realistically speaking, the challenge to achieve the transition to renewable energy is beyond reach if there would be no collaboration between the private and public sectors. This was the consensus reached during the virtual forum, “Philippine Energy Transition: A Race through Economic Disruption, Technology Shifts and Innovation,” held by the Philippine Energy Independence Council (PEIC) in partnership with the European Chamber of Commerce of the Philippines (ECCP) last January 21 with valuable input from various speakers to present the bigger picture of how the country can advance and achieve the indigenous energy and sustainability goal.

For Senator Sherwin Gatchalian, Chairperson of the Senate Energy Affairs Committee, he cited a Bloomberg report showing that from 2004-2020, industries around the world have invested US$4.569 trillion in investing in alternative sources of energy: hydrogen; carbon capture and storage (CCS); energy storage; electrified transport; electrified heat; and RE.

The Senator, who has authored such bills as the Murang Kuryente Act and the Electric Cooperatives Emergency and Resiliency Fund Act, affirmed that the Philippines can be successful in this endeavour through targeted regulations and the passing of related laws. The Philippine Congress has augmented the Department of Energy’s (DOE) budget by PHP40M to effect the change, and research into the kinds of policies that will manage the process without affecting the consumers negatively. In exploring other energy sources such as nuclear and geothermal, he said that the government “can assist the private sector in developing certain technologies. We can come up with different models where we can share the risks.”

Meanwhile, DOE Usec. Jesus Christino Posadas affirmed that his organization is “seeking development of all indigenous energy resources while working to increase the effectiveness of the country as an energy destination.” One of its priorities over the next two decades is to realize the target of 34,000MW by the year 2040. The opening of the geothermal sector to foreign investment is a step towards this direction. About 22 predetermined areas covering geothermal resources had been identified and presented to stakeholders. 

Sharing his thought was PEIC President Don Paulino, who pointed out that the campaign for a clean secure energy future should integrate the diverse aspects of the industry ecosystem to make them “more aligned, integrated, and complimentary to one another.” At the same time, the learning of the industry players will become broader, empowering them to adapt with greater agility. That integration can prove pivotal to the PEIC’s Philippine Energy Plan which is aiming for 44,671 MW of RE, or 42.9% of the industry production,  by 2040. 

PEIC Director Amor Maclang posed her challenge by venturing beyond industry alignment into engaging a wider audience, describing it as “the bridge between the industry, government, and the public. How do we make ideas of energy efficiency more snackable for a generation that is very detached? How do we engage the youth, academe, and millennials, because right now, discourse about this issue remains insular?”

For starters, PEIC Chairman Lt. Gen. Rozzano Briguez (Ret.) revealed that the organization is strengthening its links with the DOE and the University of the Philippines to come up with data that can build up public interest, and especially draw in more investors.  He stressed, “We must work hand in hand with decision-makers to find sources and to realize our goal of energy for all. A robust and resilient energy system will enable us to bounce back during unforeseen scenarios.”

Michael Velasco, Vice President of Business Development and Industry Affairs of Vivant Energy Corporation, said that his company is exploring the combination of  renewable and conventional energies with the overall objective “to improve livelihood, and the adaptation of RE in offgrid, poor, and remote communities.”

Jon Russell, Chief Commercial Officer and Executive Vice President of the First Gen Corporation, added that energy security can reduce the widening gap between the rich and the poor. He recommended studying natural gas as its development on a “flexible basis can help decarbonize the Philippines.  Gasoline has lower cost and can be implemented quicker. It can switch on and off quickly, and can support renewables. Gas is a transition fuel. Other technologies such as hydrogen will help to decarbonize gas.”

Industry leaders from Mindanao see energy independence as crucial to harnessing the potential of the region.  Romeo Montenegro, Asst. Sec. and Deputy Executive Director of the Mindanao Development Authority, said that the region’s 7.1% growth rate, which is higher than the national growth rate of 6.7%,  will require the electrification of all its towns and cities. He shared, “We are targeting 100% electrification all over Mindanao by 2030. Right now, there are only 12-18 hrs of power in the capital towns of Tawi-tawi, Jolo, Sulu, and Basilan. But some areas only enjoy 4-6 hours. Transition to cleaner energy will have to start in these very areas.”

Jaime Jose Aboitiz, Executive Vice President and Chief Operations Officer of the Aboitiz Power Corporation, expressed his belief that technology over time will resolve these issues and effect the transition the country needs:  Rooftop solars can bring in more power stability. Digital simulation of a power plant is a tool both for monitoring efficiency as well as workforce training. Anton Perdices, COO of the Aboitiz Distribution Unit, added the need for a “self-healing network which basically takes care of itself. It automatically switches off and does reroutes.”

At the end of the forum, Aboitiz captured the sentiments of the speakers viewing both the potentials and challenges that will present themselves during transition:  “It’s really an all-nation, all-hands-on-deck type of deal. There’s so much that’s required from the private sector and academe. We have to work really hard to remove roadblocks so opportunities open up for us to go forward into a renewable and more sustainable energy.”

The Philippine Independence Energy Council (PEIC) is composed of business leaders and private individuals who share the vision of an energy-independent Philippines that is able to produce enough of its own energy to meet its own demands and substantially decrease dependence on other countries. It continuously initiates public discourses on what must be done to move government decision-makers to beef up our energy reserves and trigger discussions that can lead to concrete steps towards the goal of energy independence. For more information about PEIC – activities, membership — pls follow their facebook page or email at energyindependenceph@gmail.com

Technology is here to stay and set to play a vital role in the business and economy not just this time of the pandemic, but more so during the post-pandemic scenario.

From December 7-11, the World Fintech Festival (WFF) the much anticipated will be bringing together illustrious personalities like Bill Gates, Satya Nadella, Eric Yuan, and PH business tech leaders UnionBank Vice-Chairman Tito Ortiz, Lazada President and CEO Ray Alimurung in the same virtual convention and more.

While it will be conducted virtually, the WFF-Philippines is the globalized version of the Singapore Fintech Festival (SFF), the most prestigious event in the fintech industry which in 2019 drew 60,000 participants from 140 countries, including heads of state, policymakers, and financial and technology (fintech) leaders.

Organized by Geiser-Maclang Communications Inc. (GMCI), in partnership with the Monetary Authority of Singapore (MAS) and the SFF, the WFF-Philippines is the first in the country.

At the recent WFF-Philippines press conference, SFF and WFF CFO Sopnendu Mohanty explained the importance of connecting local businesses with their global colleagues. He said, “The digital platform is the first step for these entrepreneurs to succeed. The whole set of tech enables services for the MSMEs to grow. That’s the new world.”

WFF Philippines Convenor and GeiserMaclang Co-founder Amor Maclang, who will also be a speaker, emphasized that “The WFF-Philippines is the beginning of a movement to call the industry players and other stakeholders to digitize our country, especially using fintech, towards progress and development, using a whole-of-nation approach, whole-of-government approach. The past few years have seen an unprecedented reverse diaspora of the best and brightest technology players choosing to domicile in the Philippines. It is our time to shine.”

”From the international arena, leading the discussion on how to leverage game-changing trends in fintech are legends like Bill Gates, the Co-Chair of the Bill and Melinda Gates Foundation; Eric Yuan, Founder and Chief Executive Officer, Zoom Video Communications, Inc.; Akon, Founder of Akoin; NASDAQ President and CEO Adrena Friedman; Microsoft CEO Satya Nadella; Nandan Nikelani, Infosys Co-founder and Chairman; and Dan Schulman, President and CEO of Paypal, just for a start.

NASDAQ President and CEO Adrena Friedman will talk about how technology is shaping the future of capital markets. NASDAQ, a global electronic marketplace, provides hundreds of businesses around the world the opportunity to invest in or trade among listed companies.

Like NASDAQ, cryptocurrency company Akoin empowers both ends of the marketplace from buyers to sellers. Founded by Senegalese-American star and philanthropist Akon, it bridges the gap between international investors and Africa’s entrepreneurs struggling against inflation. The culmination is a $6 billion futuristic city at the heart of Senegal, Africa. 

BlackRock’s Founder, Chairman, and CEO Larry Fink will reveal a global CEO’s perspective on leadership, inclusion, and diversity. With a total of $7.4 trillion in assets under management, his 2018 letter, sent to CEOs of the companies BlackRock has invested in, encouraged them to make positive societal contributions.

Joining the WFF-Philippines to cement the industry’s digital global footprint are the country’s leading tech disruptors who have created massive ripples of change within their industries.

WFF’s first day will banner how digitization can transform a nation. The luminaries in the different panels include Mynt President and CEO Martha Sazon; and Commissioner Dennis Funa of the Philippine Insurance Life Commission.

The second day’s forums will center on digitizing the country and the rise of e-commerce. Speakers include Lazada President and CEO Rey Alimurung and GreatDeals CEO Steven Sy.

Halfway through the convention, hot topics like financial inclusion, data privacy, and the need for a regulatory framework shall be discussed by speakers Commissioner Raymund Liboro of the National Privacy Commission; Anton Bonifacio, Chief Information Officer of Globe; Rajan ‘Piku’ Uttamchandani, Esquire Financing Chairman and CEO; Roy Miclat, 1 Cooperative Insurance President and CEO; and Atty. J.J. Disini, Managing Partner of the Disini Law Office.

Two speakers will be sharing their insights on technology’s impact on their industries:  Atty. Mark Gorriceta, Gorriceta Africa Cauton & Saavedra’s Managing Partner, on the legal tech industry; and Noel Bonoan, President and COO of auditing firm KPMG, on the importance of artificial intelligence for accounting and law firms. All these shall be followed by talks on what investors are looking for, led by Minette Navarette, Vice Chair and CEO of Kickstart; Coins.ph CEO Ron Hose and Mica Tan, President and CEO, MFT Group of Companies.

On the fifth and last day of the WFF-Philippines, attendees will get useful pointers about becoming digital superstars, relevant fintech verticals, and industries on their way to transformation. These topics will be led by Ayala Corporation’s Managing Director, CHRO & Group Head, Corporate Resources JP Orbeta; AC Education’s CEO Fred Ayala; AC Healthcare’s President and CEO Paolo Borromeo; Rain Hermans, President and CEO of Singlife; and Globe’s President and CEO Ernest Cu.

Boxing legend and legislator Manny Pacquiao will talk about his latest tech venture, PacPay, a digital payment platform that facilitates cross-border transactions and launched the cryptocurrency known as “Pac Tokens.”

WFF-Philippines Convenor and GMCI Co-founder Amor Maclang believes the collaboration among local tech giants will trigger a reverse diaspora. She foresees that the “rising tech hubs in the near future will bring them back home—where they can contribute their talents and their time, advance a career and build businesses while enjoying a happy and prosperous life with their families. It is a vision that technology can help us reach.”

By Victoria “NIKE” De Dios

The Philippines is set to showcase its best financial technology (fintech) practices to an international audience and cement its global digital footprint in the five-day virtual World Fintech Festival (WFF) on December 7-11. Previously presented as the Singapore Fintech Festival (SFF) in past years, this year’s WFF shall spotlight key executives and decision-makers from different Asian nations as they discuss how they pilot fintech to produce societal impacts.  Global tech legends like Bill Gates, Google CEO Sundar Pichai, and Microsoft CEO Satya Nadella will broadcast their talks to WFF participants in ten free sessions through YouTube and Facebook.

The WFF-Philippines, co-presented by leading telecommunications company Globe, is also intended to galvanize Philippine industries to accelerate their own adoption of fintech, be open to innovation, and invest in their workforce’s digital upskilling. It is designed to bring together the public and private sectors to help build inclusive digital economies.

During the virtual presser on November 18, Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), remarked on the readiness of the nation’s fintech industry. He said, “The Philippines is the country that I will never ignore. You have a remarkable GDP and a fairly young demographic. The true test of a company’s strength comes from a crisis—and the businesses in the Philippines have truly demonstrated this.”

A first in the country, the WFF – Philippines is organized by GeiserMaclang Marketing Communications, Inc. (GMCI) in partnership with MAS and SingEx. It is expected to draw in the same crowds who attend the SFF, including business leaders and CEOs from 140 countries.

Industry leaders who will headline the WFF-Philippines were present during the virtual presser: Melchor Plabasan, Director, Bangko Sentral ng Pilipinas; Martha Sazon, President and CEO of Mynt and Chairman of the EMoney Association of the Philippines Inc.; Dr. Justo Ortiz, Chairman, UnionBank of the Philippines and President of the Fintech Philippines Association; Noel Bonoan, KPMG Vice Chairman and COO; and Atty. Mark Gorriceta, Managing Partner of Gorriceta Africa Cauton & Saavedra.

WFF-Philippines Convenor and GMCI’s Co-founder Amor Maclang, who moderated the panel discussion, says the event can amplify the Philippines as a tech hub attractive to global investors. “We are championing the Philippines, following the footsteps of Singapore, as an incubator for technology and fintech. At the same time, tech is here to serve the underserved, the underbanked, and the undersheltered. Fintech has created opportunities for people on the spot,” said Maclang, citing the sari-sari stores and online entrepreneurial shops as examples of fintech’s inclusivity.

Bangko Sentral ng Pilipinas (BSP) has also paved the way for the country to be more open when it comes to seamless and contactless payment behaviors. Its data shows a surge in the use of internet banking, mobile apps, and services like Instapay and PesoNet during the pandemic.  BSP Director Melchor Plabasan revealed some initiatives, saying, “More than four million accounts were opened during the first two months of the lockdown. We recently crafted a three-year roadmap that aims to develop an efficient, safe, and secure digital-payment ecosystem. We aim to shift 50% of retail payments online, and ensure that 70% of adult Filipinos will have access to digital accounts.”

Martha Sazon, President and CEO of Mynt, which manages the country’s leading mobile wallet app GCash among its innovations, revealed one of the trends observed during the lockdown:  “It is the younger generation who is most aware of their financial stability within this time. These things have pushed us to provide savings, credit, and insurance, all within GCash. To date, we have gained 26 million GCash customers, which is ten times higher than our monthly users in 2017.”

Ms. Sazon, who is also Chairman of the EMoney Association of the Philippines, estimated that one trillion transactions will be made through GCash by the end of December.

Meanwhile, UnionBank of the Philippines, which pioneered digital banking, was able to accommodate the large spikes of consumer demand when the clamor for online transactions soared during the first few months of the COVID-19 crisis. Dr. Justo Ortiz, UnionBank Chairman, pointed out the future of money movements:  “Financial transactions, embedded in actual live transactions people do day to day, are the ultimate end game. Whatever you do, whether you buy food, take a trip—we will embed it in financial transactions across the board.”

Auditing firm KPMG has leveraged tech to redefine its business operations, services, and client management system. Its Vice Chairman and COO, Noel Bonoan, explained, “We assist our clients on automation, artificial intelligence, and cybersecurity. You cannot properly assist them if your organization cannot practice what you preach.”

Atty. Mark Gorriceta, Managing Partner of law firm Gorriceta Africa Cauton & Saavedra, affirmed that speedy, accountable action holds the keys to digital transformation. He said, “We help our clients navigate and understand its intricacies. In aiming for responsible fintech, we closely work together with the BSP, the Insurance Commission, and the Securities and Exchange Commission.”

Dr. Ortiz reiterated that in all great journeys of impact, making the difference at scale requires great effort and investment in human capital which is “the challenge of our generation. As the speed of innovation is accelerating, we need to double-time and intensify our efforts so nobody will be left behind,” he emphasized. “Learning, unlearning, and relearning will be a consistent process in our digital journey to become a robust and competitive digital society.”

The World Fintech Festival-Philippines agenda of speakers will span the length of the five-day global program which will run from December 7-11. For more information and to register for the event, click here: https://www.fintechfestival.sg/register-now.

Founded on its mission to inspire a deeper level of care for everyone in the community during this pandemic, especially the immuno-compromised, Organique joins the Department of Health’s (DOH) Bida Solusyon Campaign that calls on the public to comply with health protocols in order to prevent the transmission of COVID-19. The launch event took place via Zoom and was hosted by celebrity wellness advocate Regine Tolentino.

Organique’s premium health products have been founded on the vision that a strong immune system can make the people susceptible to illnesses and other medical conditions. Boosting one’s health becomes more than self-empowerment, and can also become a means to extend that protection to family, friends, and even the community. A healthy physiological system makes for a formidable complement with the DOH BIDA practices such as the wearing of face masks and face shields in public spaces, regular and proper handwashing, and social distancing by at least one meter. 

“This well-rounded approach to health is essential, now more than ever, as we face a threat with no known cure yet,” said Cathy Salimbangon, CEO and President of Organique, Inc. during the partnership launch last Sept. 29. As numerous medical experts including the World Health Organization (WHO) have iterated, maintaining a healthy immune system is one of the best defenses against COVID-19, since it acts as a barrier against disease. While there are currently no COVID-19  medications that can completely eliminate the virus, there are steps that one can take to ensure one’s physiological and immunological defenses are as strong as possible. 

Echoing Salimbangon’s statements, Integrative Medicine Specialist and Wellness Expert Dr. Sonny Villoria shared, “As a medical practitioner, I know the importance of boosting your immune system. So health supplements like Organique can help provide some form of internal protection, while BIDA can provide external protection. By practicing minimum health standards, we are doing something for ourselves.”

The success of the campaign relies a great deal on the collaboration between the private and public sectors. Dr. Beverly Ho, Director IV of Health Promotion and Communication Service of the DOH’s Public Health Services Team, explained, “We welcome Organique’s energy to make BIDA’s message live and breathe in every Filipino. We shouldn’t be fearful about COVID because the solutions are within us. However, we recognize that some countrymen need more, and so we have our partners to help spread our message. We need to go beyond communication and advertisements to reach different communities.”

During the launch, Organique pledged to help build consumer confidence through the mass implementation of the BIDA Solusyon campaign’s objectives. “Not only will we be applying the BIDA guidelines in our own lives. We will also be sharing the pillars of the BIDA campaign in our various platforms online and in person, so that our teams, their families, and the people they may come in contact with, will learn about these simple but important practices against COVID-19,” Salimbangon elaborated.

In addition, Organique Inc.  ImmunoCare Kits will be distributed to the vulnerable sectors of the community. They contain the brand’s immunity-boosting Acai Premium Blend, bottles of alcohol, masks, face shields, and BIDA posters and flyers. 

Salimbangon also shared how their company is coping in the new normal. She said, “As a brand, we are in a position to do more to curb the spread of COVID. Thanks to the BIDA guidelines, our teams were able to adapt and demonstrate the resilience that puts the safety of our team and customers first.” 

Meanwhile, Communications Technical Advisor to DOH Amor Maclang emphasized the important role that each individual plays as the economy begins its road to recovery. “BIDA Solusyon encourages all of us to be the hero—the ‘BIDA’ of this pandemic. We are all realizing that in order to beat the virus, we need to learn how to live with it. Transmission is inevitable, but we have some of the lowest fatality rates in the world. This happened because all of us in civil society work together and are integrated into our actions through the BIDA campaign.”

Similarly, television host and wellness advocate Cory Quirino reiterated the significance of accountability in encouraging bravery. “When we talk about flattening the curve, we also need to flatten the fear. BIDA is a timely reminder that the hero is in all of us.”

The DOH’s BIDA Solusyon campaign is supported by the U.S. Agency for International Development through the Breakthrough Action Program, which has advocated the implementation of a variety of social and behavior change communications in different developing countries to push enhanced and tailor-fit public health education.

Salimbangon concluded, “We’re proud to be partnering with a government agency that helps in curbing this pandemic. It’s truly a challenging year, but it never ceases to amaze me what the human spirit can do.