With an incredible opportunity to tap into 71% of the unbanked population, fintech growth in the Philippines has been nothing short of tremendous. Also, the advent of the Philippines’ first branchless, virtual-only banks in 2021 has just expedited the innovations in the country’s FSI.
It’s no surprise that the Philippines houses 220+ fintech companies that are leveraging on the region’s booming digitalization, favorable regulatory framework, and steady modernization initiatives by the government. To add more fuel to these developments the country has even established the National Strategy for Financial Inclusion (NSFI) 2022-2028.
Consequently, it has been forecasted that the Philippines’ fintech market will surge to a staggering mark of $44 billion by 2024. To support the government with its financial inclusion initiatives and provide a common platform for the burgeoning FSI & Tech community, Tradepass is hosting World Financial Innovation Series (WFIS) in Manila on 22 – 24 August. The event will attract over 600 technology and business heads from the leading Banks, Insurance & Micro-Finance institutions across the country.