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MANILA – The Philippines will virtually host the first World Fintech Festival (WFF) in December and showcase its digital footprint globally, an attempt to revolutionize the country’s digital marketing and increase fintech practices.
The virtual event is scheduled for December 7-11 and will feature talks from tech innovators Bill Gates, Google CEO Sundar Pichai and Microsoft CEO Satya Nadella, organizers said.
The talk featuring these global technology leaders will be broadcast in 10 free sessions on the social networking sites Facebook and YouTube.
“This year’s WFF will highlight top executives and decision makers from different Asian nations as they discuss how they test fintechs to produce social impacts,” a press release reads.
It will be co-hosted by the Globe telecommunications company and hosted by GeiserMaclang Marketing Communications Inc. (GMCI).
GMCI estimated that the WFF, previously billed as the Singapore Fintech Festival, would attract business leaders from at least 140 countries.
“WFF-Philippines is intended to drive Philippine industries to accelerate their own fintech adoption, be open to innovation and invest in digitally enhancing their workforce,” the statement read.
The five-day event was also held to “bring the public and private sector together” to create a bridge and create an inclusive digital economy, he added.
Sopnendu Mohanty, director of fintech at the Monetary Authority of Singapore (MAS), highlighted the country’s readiness on the fintech landscape.
“The Philippines is the country I will never ignore. It has a remarkable GDP and a fairly young demographic. The true test of a company’s strength comes from a crisis, and companies in the Philippines have really shown it, ”Mohanty said at a virtual press conference on November 18.
Bangko Sentral ng Pilipinas Director Melchor Plabasan, Mynt President and CEO Martha Sazon, UnionBank Philippines President Dr. Justo Ortiz, Noel Bonoan, Vice President and COO of KPMG, and Attorney Mark Gorriceta, Managing Partner de Gorriceta Africa Cauton & Saavedra, will headline this year’s WFF.
Amplifying PH’s Tech Hub for Global Investors
Amor Maclang, co-founder of GMCI and coordinator of WFF, said the event could show the country as a technology hub “attractive to global investors.”
“We defend the Philippines, following in Singapore’s footsteps, as a fintech and technology incubator. At the same time, technology is here to serve the underserved, the unbanked, and the unprotected. Fintech has created opportunities for people there, ”said Maclang.
Plabasan said the central bank paved the way for the country’s transition to contactless payment practice, especially during the pandemic.
BSP data showed that there was an increase in the use of Internet banking, mobile applications and services, such as Instapay and PesoNet, during the pandemic, as more than 4 million accounts were open even during the first 2 months of the closure, according to Plabasan.
“We recently put together a 3-year roadmap that aims to develop an efficient, safe and secure digital payments ecosystem. Our goal is to move 50 percent of retail payments to the Internet and ensure that 70 percent of Filipinos adults have access to accounts, “he said.
Sazon estimated that one trillion transactions will take place through GCash by the end of December, noting that young Filipinos are “more aware of their financial stability” during the pandemic.
Ortiz also pointed out the future of money movements.
“Financial transactions, embedded in real live transactions that people do every day, are the ultimate end game. Whatever you do, whether you buy food or travel, we will integrate it into financial transactions across the board, “Ortiz said.
For more information and to register, click here.
