INDX Fintech Summit 2022 outlines roadmap for Philippine digital economy

By: The Independent Investor

Source: The Independent Investor

Now on its second edition, the summit brings together industry leaders, practitioners and government partners involved in digital finance, digital transformation, innovation and strategy.
The Inclusion and Digital Transformation (INDX) Summit, a flagship event of Fintech Alliance.Ph, the country’s largest association of fintech and digital players, recently kicked off its two-day conference from November 22-23,2022 at the Enderun Tent, McKinley Hill in Fort Bonifacio, Taguig City.  Now on its second edition, the summit brings together industry leaders, practitioners and government partners involved in digital finance, digital transformation, innovation and strategy.

This year, the INDX Summit 2.0 agenda centers on the theme “The Future of Digital Economy in the Philippines: Issues, Impact and Innovation,” moving in parallel with the government’s national digital strategy initiatives focusing on the sectors of agriculture, education, health, energy, transportation and the economy. 

The 2-day conference provides an avenue to link the brightest minds in Fintech through keynote talks, panel discussions, and its networking platform for professionals and stakeholders to help shape the future of the country’s digital economy.  Conference attendees will be exposed to best practices, innovative strategies and solutions, lessons learned and success stories from an array of industry leaders and experts headlining the event.  

The summit is held in collaboration with the Department of Finance, Department of Information and Communications Technology, Bangko Sentral ng Pilipinas, Department of Trade and Industry, Securities and Exchange Commission, Department of Transportation, National Economic Development Authority, Insurance Commission, National Privacy Commission, Credit Information Corporation, Department of Health, Department of Agriculture, and other key government agencies.

Its keynote speakers included Finance Secretary Benjamin Diokno, BSP’s Governor Felipe Medalla, and a host of other local and international thought leaders in the fintech and digital space.

Day 1 of the INDX Summit focused on outlining the country’s National Digital roadmap.  The opening keynote talks on the Philippine Digital Transformation Strategy focused on how the government is addressing key challenges such as the digital divide between standards & regulations in ecommerce, digitally competent workforce, cybersecurity readiness, budgets and investments.

“While the Coivd-19 pandemic has redefined what we considered to be business as usual, it also presented an opportunity for economies around the world to quicken the pace towards a more digital economy,” said Finance Sec. Diokno in a pre-recorded speech.  “The high demand for ecommerce platforms and digital payments tells us that it is high time for transition towards a digital e-commerce society that will broaden financial inclusion,” he added. 

Echoing Sec. Diokno’s sentiments is Lito Villanueva, founding chairman of Fintech Alliance.  “This initiative by Fintech Alliance is to gather all stakeholders that include government, the private sector and consumers themselves.  We should be able to come up with ways on how to further accelerate digital adoption by way of promoting inclusive digital finance through shared prosperity,” said Villanueva. 

Other talks during the opening day included topics on the Philippine HealthTech market as it tackles the various issues faced by the government and healthcare industry, and on the agricultural value chain and how digitalization can help solve sustainability challenges in the country. 

Capping the first day were discussions that looked into the overall strategy of driving digital transformation in the education sector, as well as leveraging digital technologies to grow entrepreneurial ventures and MSMEs. 

Day Two topics converge around emerging technologies impacting the financial sector, as well as the key challenges of new competencies specifically related to the use of information and communications technology (ICT) and talent development.  Other presentations will dive into how AI and the Metaverse can revolutionize the banking and finance sector, provide insights on the potential applications of quantum computing in financial services, explore the lessons and misconceptions on Crypto as well as share practical examples and new business models on API.

“What we have seen in terms of content for this summit are quite a number of good news coming from regulators and practitioners in scaling digital adoption.  We’ve seen quite a number of initiatives from the sector especially in promoting financial inclusion and digital transformation.  My role as the chairman of Fintech Alliance is really to bring all these stakeholders in one venue to promote dialogue and seamlessly execute things for the betterment of society and apply global best practices,” Villanueva concluded.   

At the end of the conference, INDX Summit will hold an Ambassadors’ Gala where local and regional key heads of missions and other international development agencies will gather.

INDX Summit 2.0 Fintech Summit 2022 is organized in cooperation with Enderun Extension and Enderun Colleges

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