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Philippines festival to push new local fintech innovations

The Philippines is all set to cement its role as the next hotbed for fintech and tech innovation with all the necessary ingredients to tech up already present in the Southeast Asian country.

The country is certainly ripe for fintech growth with its solid financial and business ecosystem (with projected GDP growth of 6.2% in 2020), an innovation-ready regulatory environment, a large, young, and increasing population with an internet penetration rate of 63% — most of them through mobile devices.

The Undersecretary of the Department of Trade and Industry (DTI) stated that the government strongly believes that this is a pivotal moment for the nation to become more relevant and competitive in the global marketplace.

DTI continues to remain supportive of the growing fintech industry because of its massive potential for financial inclusivity for the nation’s citizens.

With all the work and tech innovation building up in the country in recent years, the Philippines is ready to expand its horizons.

The Undersecretary explained the significance of being at the centre of tech innovation, citing how fintech companies and products have largely contributed to the government’s relentless drive for financial inclusion.

These include telecoms and traditional banks successfully launching their own fintech products offering millions of consumers access to formal credit products; small and medium enterprises as well as farmers being given alternative finance by start-up firms who link them to banks and other investors; and mobile wallets and start-up firms working on modernizing remittances through online payments and use of cryptocurrencies amid the growing number of Filipinos working overseas.

The Philippines is now primed to move on to the next level and transition into a world-class digital economy via the Philippine Fintech Festival — an international gathering of experts and leaders in innovation.

The Philippine Fintech Festival scheduled for May 2020

The forthcoming Philippine Fintech Festival (PFF), to be held 20 to 21 May 2020, will explore the widening horizon for the tech and fintech potential of the Philippines.

It was developed in partnership with various government agencies including the Bangko Sentral ng Pilipinas (BSP), Department of Information and Communications Technology (DICT), Department of Science and Technology (DOST), and Department of Trade and Industry (DTI) as well as private corporations and organizations.

The fintech event promises to be a showcase of the latest technological innovations both here and abroad to local and international businesses.

This will definitely go a long way in helping us develop the country’s capability for innovation through the continuous development of information and communications technology.

Global innovation experts will gather to discuss the future of banking, industry transformation, and financial inclusion for the plenary sessions.

In addition, there are several exciting events geared for those participating in the festival such as Business Matching activity with Trade Connect where entrepreneurs can network with possible investors and learn from their peers in the industry.

Attendees can also attend the Final Pitch wherein start-ups can present their innovative business ideas to industry leaders and venture capitalists.

While the PFF Hackathon will challenge students and tech enthusiasts in creating impactful solutions for current pressing issues in the Philippine financial industry.

Access to the ASEAN Financial Innovation Network (AFIN)’s APIX platform will be made available to Hackathon participants as part of their toolkit. These activities will culminate during the PFF Awards wherein winners from these activities will be recognized.

The Philippine Fintech Festival aims to empower enterprises via a digital revolution in order to remain relevant and competitive amid a rapidly changing business environment.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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