Fintech Alliance PH, BSP deepen collaboration to drive digital finance and financial inclusion
Fintech Alliance PH executives led by founding chairman Lito Villanueva meet with BSP governor Eli Remolona and deputy governors Chuchi Fonacier and Mamerto Tangonan to present a 12-point agenda on digital finance, reinforcing their collaboration in driving financial inclusion and regulatory innovation.
The Fintech Alliance PH—representing over 130 companies responsible for more than 95% of retail digital financial transactions in the Philippines—recently met with Bangko Sentral ng Pilipinas (BSP) governor Eli Remolona and deputy governors Chuchi Fonacier and Mamerto Tangonan to chart the future of digital finance in the country.
During the strategic dialogue, Fintech Alliance PH presented a bold 12-point agenda aimed at accelerating digital finance adoption and strengthening financial inclusion. The proposed initiatives focused on key pillars such as regulatory harmonization, cybersecurity, consumer protection, and the expansion of open finance frameworks.
Among the top priorities discussed were the enhancement of business resilience, proactive fraud prevention, the rollout of integrated eKYC (electronic Know Your Customer) systems, and the establishment of a real-time, industry-led fraud bureau. The alliance also emphasized the importance of developing financial health metrics to ensure a secure, accessible, and robust digital finance ecosystem.
A major talking point was the ongoing effort to keep the Philippines off the Financial Action Task Force (FATF) gray list. Industry leaders reaffirmed their commitment to strengthening anti-money laundering (AML) and counter-terrorism financing frameworks to address lingering deficiencies.
“Our partnership with the BSP remains crucial as we navigate the evolving digital finance landscape,” said Lito Villanueva, Founding Chairman of Fintech Alliance PH and executive vice president and chief innovations and inclusion officer at RCBC. “Together, we aim to fortify regulations while promoting innovation that benefits Filipino consumers and businesses.”
The meeting was attended by the Fintech Alliance PH Board of Trustees, including top executives from leading fintech companies:
- Oscar Enrico Reyes, President & CEO, G-Xchange, Inc. (GCash)
- Angelo Madrid, President, Maya Philippines
- Martha Elaine Borja, Advisor, Grab Financial Philippines
- Atty. JJ Disini & Atty. Aiken Larisa Disini, Disini & Disini Law Office
- Griselda Santos, Regional Director for Southeast Asia, Water.org
- Imelda Tiongson, Independent Director, PruLife UK
- Zdenek Jankovsky, CEO, Home Credit Philippines
- Arianne Ferrer, External Affairs Director, Tala Financing Philippines Inc.
- Richard Alikpala, CEO, Ayannah Business Solution, Inc.
- Lawrence Ferrer, President, Bayad
- Deano Basas, President, ATRAM Investments
In a presentation to Governor Remolona, the Alliance shared key insights from its latest digital lending industry survey. The results revealed that 96% of respondents now have greater access to credit compared to five years ago, while 89% expressed satisfaction with their experience using online lending platforms.
The meeting also highlighted the Philippines’ growing fintech influence on the global stage. The Board shared highlights from the “Bagong Pilipinas: The Philippines Country Pavilion” at the Singapore FinTech Festival, where a key moment was the launch of a pioneering financial health metric, supported by a visit from Queen Maxima of the Netherlands—UN Special Advocate for Financial Health.
To further solidify collaboration, the BSP Governor was formally invited to deliver the keynote address at the Manila Tech Summit 2025, scheduled for August 26–27. This year’s summit, themed “Forging the New Global Order: Risks and Opportunities Redefined,” will bring together international stakeholders and national agencies including the BSP, Securities and Exchange Commission, DICT, Credit Information Corporation, National Privacy Commission, Insurance Commission, and the Cybercrime Investigation and Coordinating Council.
This high-level engagement reaffirms the shared commitment of the Fintech Alliance PH and the BSP to build a more inclusive, secure, and innovation-driven financial ecosystem in the Philippines—where digital transformation goes hand in hand with strong governance and meaningful impact for all.
Source: The Daily Chronicle