SINGAPORE—At the Singapore FinTech Festival, RCBC Executive Vice President and Chief Innovations and Inclusion Officer and Fintech Alliance Founding Chairman Lito Villanueva urged fintech leaders and visionaries worldwide to adopt financial health metrics.
Caption: From L-R: Angelo Madrid, President of Maya; Lito Villanueva, Fintech Alliance Founding Chairman and Executive Vice President and Chief Innovations and Inclusion Officer of RCBC; Mynard Mojica, Director of the Financial Inclusion Office at the Bangko Sentral ng Pilipinas; and Sophie Sirtaine, Chief Executive Officer of Consultative Group to Assist the Poor , in a panel discussion about Measuring Financial Health in the Philippines at the Singapore Fintech Festival.
—At the Singapore FinTech Festival, RCBC Executive Vice President and Chief Innovations and Inclusion Officer and Fintech Alliance Founding Chairman Lito Villanueva urged fintech leaders and visionaries worldwide to adopt financial health metrics. Villanueva’s insights, shared alongside Maya’s President Angelo Madrid and BSP’s Financial Inclusion Director Mynard Mojica, underscored the Philippines’ proactive stance on financial health measurement, following an address from Her Majesty Queen Maxima, United Nations Secretary-General Special Advocate for Financial Health. Sophie Sirtaine, Chief Executive Officer of Consultative Group to Assist the Poor , moderated the panel “Measuring Financial Health in the Philippines.” The panel showcased groundbreaking efforts by the BSP and DiBA, including the preliminary results of the BSP’s financial health metrics project and DiBA’s first industry-specific financial health survey. This benchmark survey, designed to track financial well-being within the digital banking sector, sets a vital precedent for the Philippines and potentially other economies. Villanueva, who also serves on the Board of Directors of the South Africa-based Alliance of Digital Finance and Fintech Associations, highlighted the impact of financial health measurements on prompting collaborations across industries, which can positively impact a country’s sustainable finance journey and economy. “Governments can implement policies that encourage establishing financial institutions in underserved areas, while private sectors can develop socially attuned and accessible financial products,” Villanueva said. “Our call to action is clear: financial institutions, governments, and industry alliances must prioritize financial health metrics in their inclusion strategies. By advancing these metrics, we gain powerful insights into the financial resilience of our communities, paving the way for sustainable growth. This is about driving a global movement toward financial well-being for all,” Villanueva added. Villanueva, along with the Philippine government and other members of Fintech Alliance.PH mounted the ‘Bagong Pilipinas Pavilion’ to showcase Filipino ingenuity and excellence in digital and sustainable finance during the Singapore Fintech Festival, held at the Singapore EXPO from November 6 to 8, 2024. The Bagong Pilipinas country pavilion at the Singapore Fintech Festival was led by the FinTech Alliance Philippines in collaboration with the Bangko Sentral ng Pilipinas, Department of Budget and Management, Department of Finance, Office of the President, Securities and Exchange Commission, Credit Information Corporation, National Development Company and the Department of Information and Communications Technology. Among its sponsors include the Bases Conversion and Development Authority, Land Bank of the Philippines, Maya, Department of Tourism, Government Service Insurance System, Social Security System, JuanHand, PLDT Enterprise, Atram Investment, and Philippine Airlines in partnership with Tala and Bureau Inc.Being business-savvy should be fun, attainable and A+. BMPlus is BusinessMirror's digital arm with practical tips & success stories for aspiring and thriving millennial entrepreneurs.
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