This virtual event features the PIDS study “Analysis of the FinTech Landscape in the Philippines” authored by PIDS Senior Research Fellow Francis Mark A. Quimba, Supervising Research Specialist Mark Anthony A. Barral, and Philippine APEC Study Center Network Project Evaluation Officer III Jean Clarisse T. Carlos. This study explored the state of the FinTech industry in the Philippines and investigated how to support the development of the ecosystem to ensure that FinTech helps achieve the country’s development goals. The paper found that the Philippines has a strong FinTech industry, as indicated by an increasing number of FinTechs (particularly in payments, lending, and banking technology verticals) and increasing capitalization. It also noted that the FinTech industry could support the country’s financial inclusion goals, but the ecosystem needs to be strengthened for the sector to flourish. The study’s recommendations include reviewing policies and laws that may affect its development, improving statistics and data collection to monitor and assess the sector’s progress adequately, and developing policies and incentives to increase the availability of technical and financial services and entrepreneurial talent for FinTech.
A copy of the study may be downloaded from this link:
Analysis of the FinTech Landscape in the Philippines
Analysis of the Fintech Landscape in the Philippines presented by Dr. Francis Mark Quimba, Senior Research Fellow, Philippine Institute for Development Studies
Reaction of Mr. Kevin Gabayan, Chief Executive Officer and Co-founder, Plentina
Reaction of Ms. Amor Maclang, Executive Director, FinTech Philippines Association (to follow)
Reaction of Ms. Jovelyn Hao, Acting Group Head, FinTech Innovation and Policy Research Group, Bangko Sentral ng Pilipinas