Fintech Alliance PH showcases PH Fintech developments at Singapore FinTech Festival 2024

MAKATI CITY, PHILIPPINES – FinTech Alliance.PH, the country’s premier and leading organization of unicorns, fintech startups, and organizations, has confirmed the Philippines’ participation in the highly anticipated Singapore FinTech Festival. The nation will showcase its digital finance innovations under the banner of the Bagong Pilipinas: The Philippines country pavilion at one of the world’s largest fintech gatherings, scheduled for November 6 to 8, 2024, at the Singapore EXPO.

In collaboration with the Marcos administration and the Bangko Sentral ng Pilipinas, FinTech Alliance.PH and its members are set to feature the nation’s cutting-edge digital solutions at the Singapore FinTech Festival. The exhibit will highlight key milestones of the Philippines’ thriving digital financial sector, which contributed 8.4% to the country’s GDP in 2023—amounting to approximately Php 2.05 trillion. This reflects the growing impact of fintech in shaping the country’s economic landscape.

The event is an opportunity for start-ups and organizations in the Philippines to attract global attention and investments. The country is continuing its ascent to a US$1 trillion economy through the rapid adoption of digitalization and innovation. 

FinTech Alliance.Ph’s members drive over 95% of the country’s digital financial transactions. Singapore FinTech Festival gathered 66,000 participants from 150 countries last year and is expected to attract a larger audience this year. This reflects the robust global focus on digital finance and fintech, which continue to transform economies worldwide positively.

The Founding Chairman of FinTech Alliance.PH, Lito Villanueva, shared exciting updates on the second mounting of the Bagong Pilipinas: The Philippines Country Pavilion, which includes the participation of government partners in presenting the milestones and development of the country’s fintech sector.

“This will be our second year mounting the Bagong Pilipinas: The Philippines Country Pavilion. Last year, we had a series of collaboration agreements with various government and private sector institutions with speakers from the Bangko Sentral ng Pilipinas, Securities and Exchange Commission, National Development Company, and many more.  This has been a great showcase of a public-private partnership. We also witnessed the establishment of the Asia Fintech Alliance,” Villanueva said.

“This year, our government partners will again provide a snapshot of how the Philippines is poised to become an investment haven with our aggressive push toward development. Our speakers include Department of Budget and Management Secretary Amenah Pangandaman, who will speak on ‘Key Investments Imperatives in Making the Philippines as a Digital Hub’ and ‘Digital at the Core of the Bagong Pilipinas Development Acceleration’,” Villanueva added.

According to the Bangko Sentral ng Pilipinas, the country digitized up to 50% of retail payments last year. The central bank continues to ramp up efforts to create a conducive environment for fintech-oriented organizations and attract global investments as more Filipinos embrace and adopt digital finance into their daily lives.