The Philippines achieved a good result in this tournament. Singapore Fintech Festival (SFF) 2024was held at the Bagong Pilipinas Pavilion from November 6th to 8th.
The initiative involves key government agencies such as the Pilipinas Central Bureau (BSP), Securities and Exchange Commission, Department of Finance, Department of Trade and Industry, Department of Information and Communications Technology (DICT), and Land Bank of the Philippines.
Other private sector participants include Maya Bank, Philippine Airlines, PLDT Enterprise, Atram Investments, JuanHand, Bureau, Tala, Adjust, Finscore, CIBI, and Netcore.
One of the world’s largest fintech events, the festival attracted more than 66,000 attendees from 150 countries last year and is expected to attract even more spectators this year.
The event, which focuses on artificial intelligence, is in line with President Marcos Jr.’s vision for a sustainable and inclusive digital economy.
According to BSP: More than 50% of retail payments in the Philippines are now digitalreflecting the rapid adoption of digital finance.
The digital financial sector contributed 8.4% to the Philippine GDP in 2023, equivalent to P2.5 trillion.
As part of the “Bagong Pilipinas” initiative, Fintech Alliance.PH Chairman Lito Villanueva released the 2024 Philippine Digital Lending Industry Report.
of report Developed in partnership with research firm GeoPol and in collaboration with Bilease, Home Credit, Tala and AsiaLink Group of Companies.
This highlights key trends, such as a growing preference for transparent and fast lending services.
The report also highlights challenges such as the need for stronger fraud prevention and expanded financial literacy programs.
The “Bagong Pilipinas” pavilion also introduced the global launch of financial health indicators. The initiative included a case study on the Philippines submitted to Queen Máxima, the UN Secretary-General’s Special Advocate for Financial Integrity.
“Building on last year’s success, we have curated an exciting line-up of groundbreaking content featuring engaging presentations, the launch of innovative global initiatives and dynamic partnership announcements.
This year, our government partners will once again present a compelling overview of how the Philippines is positioning itself as an investment haven through a proactive approach to development. ”
Lito Villanueva, Founding Chairman of the Fintech Alliance and EVP and Chief Innovation and Inclusion Officer of RCBC, said:
