FinTech Alliance Summit 2019: Inclusion and Digital Transformation

Digitalization has reached another milestone as FinTech recently held its first FinTech Alliance Summit at the Bangko Sentral ng Pilipinas (BSP) last March 26, 2019 with over 400 attendees.

BSP Governor Benjamin Diokno delivered the keynote which marked his very first public forum since assuming the governorship.

The FinTech Alliance Summit also marks the launch of the BSP Governor Nestor A. Espenilla Jr. Institute for Growth towards National Inclusion, Transformation and Empowerment (IGNITE), a multi-stakeholder, research-based and data-driven advocacy aiming to empower the financial access deficient segment by leveraging on digital technology.

During his opening statement, FinTech Chairman Lito Villanueva introduced a new collective description of the unbanked and underserved, i.e., the financial access deficient segment.

The Summit also introduced the partnerships with various FinTech Associations from the Southeast and South Asia.

Left to Right: Amos Chen (Taiwan FinTech Association [TFTA]), Eddie Lee (Singapore FinTech Association [SFA] and Cambodia FinTech Association [CFA]), Lito Villanueva (FinTech Chairman), Edison Tsai (SeedIn Executive Director, FinTech Strategic Partnerships Committee Chairman).

Top universities also sealed a collaboration agreement with the Alliance. Present in the Summit are representatives from the University of the Philippines Junior Finance Association and Startup Project Ventures.

Left to Right: Magellan Fetalino III (Alliance Trustee, Acudeen Founder & CEO, FinTech Domestic Partnerships Committee Chairman), Ace Velarde (StartUp Project Ventures Founder), Nicole Miller (UP Junior Finance Association), Lito Villanueva ( Chairman).


Industry professionals and government partners sat down to give insights on how the financial access deficit segment can apply the power of FinTech to empower themselves.

Panelists (starting from 2nd Left to Right): Hamilton Angluben (Cashalo General Manager), DTI Secretary Ramon M. Lopez, Pia Bernadette Roman-Tayag (BSP Center for Learning and Inclusion Advocacy Managing Director), Ida Tiongson (Money Match PH Director), Benedict Carandang (First Circle Vice President), Edison Tsai (SeedIn Executive Director), Annica Witschard (Home Credit CEO), Ian Estrada (JG Digital Equity Ventures COO). Moderated by Quintin Pastrana (ABS-CBN News Channel/Founding Partner, Morningtide Capital).

“Enactment of Milestone Enabling Laws… What’s Next?”

Finance and technology industry leaders and professionals led the discussion as to how to further bolster financial inclusion with the signing of key enabling laws to fully support an inclusive digital economy.

Panelists (starting from 2nd Left to Right): Mel Plabasan (BSP Technology Risk and Innovation Supervision Director), Gay Santos (IFC Senior Financial Sector Specialist), Magellan Fetalino III (Alliance Trustee, Acudeen Founder & CEO), Bernadette Ramos (USAID e-PESO Senior Enabling Environment Advisor), Ephyro Luis Amatong (Securities and Exchange Commission [SEC] Commissioner), Richard Bon Moya (Microsoft National Technology Officer), Aris Alip (Card Bank Chairman), John Bailon (Alliance Trustee, Co-Founder and CEO, Satoshi Citadel Industries). Moderated by Atty. Tony Abad (One News, Cignal).

“Emergence of Shared Know Your Customer (KYC) Registry”

Verifying each client is an important factor for banks, more so for FinTech institutions. This is why industry stakeholders need to unify, maintain and update the KYC process to fit current conditions.

Panelists (starting from 2nd Left to Right): Atty. Lovie Santos-Madrid (BSP Financial System Integrity Director), Maria Gaitanidou ( Head of Compliance), Pia Arellano (Transunion President & CEO), Jong Layug (GCash/Mynt Prepaid Products Prepaid Products Head), Milcah Capundag (RBAP Executive Director), Sylvia Paraguya (COOP-NATCCO CEO), Benjamin Castillo (Bankers Association of the Philippines Managing Director), Richard Eldridge (Lenddo Co-Founder & CEO), Mikko Perez (Ayannah Founder & CEO). Moderated by Atty. Mike Toledo (MVP Group of Companies Media Bureau Managing Director).

“Making Sense of Regulations through Regulators: Financial Sector Forum”

FinTech is an improving, evolving industry which is always adapting to changes in the financial environment. This includes its integration to existing regulations that are being applied today.

Sometimes, regulations can build roadblocks, but industry regulators are ready to address issues to lead to a win-win situation between them and the FinTech sector.

Panelists (starting from 2nd Left to Right): Ma. Ana Carmela Villegas (PDIC Executive Vice President), Ephyro Luis Amatong SEC Commissioner), Vitri de Villa (BSP Fintech Subsector Senior Director & Officer-in-Charge), George Ongkeko Jr. (Insurance Commission Deputy Commissioner). Moderated by Danie Laurel (One News, Cignal).

““Consumerizing” and Scaling PERA (Personal Equity & Retirement Account)”

The PERA Act of 2008 is enacted as standard for financial institutions to encourage Filipinos to save money for retirement with tax benefits. At the moment, the BSP has accredited two major banks as institutional administrators, and one as a Cash Custodian.

The challenge today is to make PERA understandable for all, and the FinTech industry and stakeholders in the government go hand-in-hand in advocating financial wellness for the young and old.

Panelists (starting from 2nd Left to Right): Ma. Angelique de Silva (Social Security System Concurrent Acting Investment Officer for the Flexifund for OFWs and Personal Equity Savings Option [PESO] Fund for SSS Members), George Ongkeko Jr. (Insurance Commission Deputy Commissioner), Jose Recon Tano (BSP Director and Head of PERA Technical Working Group), Manny Neponuceno (Seedbox Chief Product Architect), Mike Ferrer (ATRAM CEO, Philippine Investment Fund Association President & Finance Management Association of the Philippines Senior Advisor), Stephen Schuster (ADB Senior Financial Sector Specialist). Moderated by Angie Pacis (KnowledgeLinks Wealth Solutions President).

“Data Security and Privacy Protection for Applications in a Multi-Cloud and Containerized World”

In this track, Global Technology Advocate for Cloud Business Unit Akshay Matur discusses the importance of data security for FinTech companies and and privacy protection for its consumers.

“Forging Inclusion and Bringing “Digital at the Grassroots: GoNegosyo’s Angat Lahat sa Digital Campaign””

Josephine Romero (Senior Advisor to ASEAN Business Advisory Council and Senior Adviser for GoNegosyo Digitalization [Angat Lahat sa Digital] Programs) stresses the need for financial institutions to adapt to new technologies and apply its uses at the grassroots level, something that select FinTech companies are already implementing to support the needs of Micro, Small and Medium Enterprises.

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