World Financial Innovation Series Philippines
Fueled by the cohesive efforts of both government and private entities, the Philippines’ fintech landscape is gaining traction at a rampant pace. Courtesy of the judicious policy makers and the nation’s booming digitalization, fintech adoption in the Philippines is forecasted to reach 72 percent of the population in 2024.
While the $344 million funding raised in 2022 serves as a huge testament to the growing investors’ confidence in the region, the 867 actively used fintech applications shows the sector’s popularity among the masses. The above also correlates to the fact that over 74% Filipinos own smartphones, thereby making a more opportune scenario for the growth of fintech.
With initiatives like National Strategy for Financial Inclusion 2022-2028, Digital Payments Transformation Roadmap 2020 to 2023, Open Finance Framework and others, the Central Bank of the Philippines (BSP) has been spearheading the sector’s growth in the country. Furthermore, to expedite the adoption of digital financial products, the archipelago is now digitalizing key government agencies including the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC).
Paying heed to the situation and giving a direct gateway to the country’s FSI, World Financial Innovation Series (WFIS) is coming to Manila Marriott Hotel, Philippines again on 13 – 14 August 2024. The event will host over 600 technology and business heads from the leading Banks, Insurance & Micro-Finance institutions across the country.
