FinTech champ plots roadmap for PHL financial health

MANDALUYONG CITY, PHILIPPINES – Building on the momentum of the country’s rapidly expanding digital finance sector, Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of Rizal Commercial Banking Corporation (RCBC), and Founding Chairman of FinTech Alliance.PH, outlined bold next steps for the Philippines’ sustainable finance journey at the 5th Asia Finance Forum hosted by the Asian Development Bank.

The high-profile forum, which convened over 800 policymakers, industry executives, academics, and civil society leaders from over 40 countries, served as a platform to reimagine the future of inclusive and sustainable financial systems for the region.

During his Keynote Address, Villanueva highlighted the critical importance of pivoting from mere financial access toward long-term financial resilience. Discussions spanned key themes of financial literacy, consumer protection, digital empowerment, and resilience through microloans, microinsurance, and pension innovations, all designed to close persistent gaps faced by MSMEs and underserved communities.

“Our next frontier must be moving from access to resilience. Financial inclusion is only the first step,” Villanueva emphasized.

“The true measure of progress will be achieved when Filipinos can build financial buffers against shocks; when inclusive credit scoring systems unlock fair financing; when micro-insurance is seamlessly embedded into digital transactions; and when entire ecosystems such as banks, fintechs, regulators, and enterprises can co-create platforms that empower rather than merely enable.”

As a pioneering figure in the region’s fintech landscape, Villanueva also detailed concrete initiatives driving this vision. He highlighted the FinTech Alliance.PH’s 80×80 Vision targeting 80% digital account ownership and 80% digital retail payments by 2028.
“Anchored on the Alliance’s 4T framework: Tech for Good, Tech for Growth, Tech for All, and Tech for Trust, we are committed to safeguarding consumers, fostering innovation, expanding inclusion, and strengthening public confidence,” he explained.

Villanueva further asserted that financial health must be seen not just as an economic aspiration, but as a social contract that underpins the true wealth of nations.

Villanueva joins other finance leaders in sharing insights and discussing the future of inclusive finance
The panel, which featured distinguished voices such as Manjula Hettiarachchi (Director General, Development Finance, Ministry of Finance, Sri Lanka), Shri Goverdhan Singh Rawat (Deputy Managing Director, National Bank for Agriculture and Rural Development, India), Vineet Sukumar (Founder & Managing Director, Vivriti Capital), and Rowena Zamora (Chief Strategy Officer, GCash), reinforced the need for collaborative, cross-border approaches to financial inclusion.

Last year, he welcomed Queen Maxima of the Netherlands and the United Nations Secretary-General’s Special Advocate for Financial Health at the “Bagong Pilipinas: The Philippines Country Pavilion” at the Singapore FinTech Festival, where the Philippines was hailed as a global example in establishing financial health metrics.

Source: BusinessMirror