Senior representative from the Bankers Association of the Philippines (Invited)
Senior representative from the Bangko Sentral ng Pilipinas (Invited)
*To be confirmed
Reimagining the future and digitisation journey of finance in the Philippines
The digitisation journey of the financial services industry has undoubtedly transformed the way banks and other financial institutions communicate with customers and develop products and services. In recent years, super-apps have risen as a dominant trend in the Asia Pacific. Through this single portal, consumers can access a full spectrum of services such as mobile and QR payments, insurance, credit and loans. With the help of breakthrough technologies such as AI and API, industry players are further exploring sustainable digital platforms to fulfill their promise of a great customer experience.
As both traditional and non-traditional players continue to push for the latest developments in the payments landscape, they subsequently offer a wider range of payments methods to their customers. There are also further breakthroughs in cross-border payments as well as the remittance industry. Banks and financial institutions will have to keep being open to new trends for a more extensive reach.
In the Philippines, the BSP has been cultivating a more conducive and open regulatory environment for digital banking and other innovative fintech products or services. The implementation of the International Financial Reporting Standards (IFRS) and the Basel regulatory framework, however, must also be prioritised with data governance and management to enhance growth, competitiveness and profitability.
These are case studies from fintech players as well as bank internal innovation departments that are demonstrating outstanding creativity and potential in the market in the following areas:
The industry experts will converge to hear from the best-in-class innovation cases and invite the audience for feedback.
Banks and financial institutions are accelerating the adoption of Web 3.0 as part of their digital transformation. With the help of this third generation of internet services, traditional players can give decentralised finance (DeFi) access to their consumers through personalised products and services. Web 3.0 enables them to create a more efficient financial system and deliver a more seamless consumer experience.
Session chaired by Foo Boon Ping, Managing Editor, The Asian Banker