Fintech Alliance.PH announced that it will be joining the Singapore Fintech Festival 2024 to showcase its digital finance innovations.
The event, one of the largest fintech gatherings globally, will be held from 6 to 8 November 2024, at the Singapore EXPO.
Last year, Singapore Fintech Festival gathered 66,000 participants from 150 countries, and an even larger audience is expected this year.
Under the banner “Bagong Pilipinas: The Philippines Country Pavilion”—with “Bagong Pilipinas” meaning “New Philippines”—the exhibit will emphasize the country’s forward-looking approach to fintech and economic development.
The collaboration with the Marcos administration and Bangko Sentral ng Pilipinas (BSP) will highlight key innovations in the digital finance sector.
The Philippine fintech sector contributed 8.4% to the country’s GDP in 2023, amounting to approximately PHP 2.05 trillion.
Department of Budget and Management Secretary Amenah Pangandaman is set to speak at the event, discussing key investment imperatives in making the Philippines a digital hub and the role of digital transformation in accelerating the country’s development.
This event provides an opportunity for Philippine startups and organisations to attract global attention and investments.
The country’s journey toward becoming a US$1 trillion economy is being driven by the rapid adoption of digitalization and innovation.
According to BSP, 50% of retail payments in the Philippines were digitized in 2023.
The central bank continues to ramp up efforts to create a conducive environment for fintech-oriented organisations, aiming to attract global investments as more Filipinos embrace digital finance in their daily lives.
Lito Villanueva, Founding Chairman of Fintech Alliance.PH, said,
“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.”
This article first appeared on Fintech News Philippines