Fintech Alliance Philippines Co-Founding Chairman Lito Villanueva and DBM Secretary Amenah Pangandaman formalize a partnership to promote financial inclusion, digitalization, and innovation in governance by signing a Memorandum of Understanding.
The Department of Budget and Management (DBM) and FinTech Alliance.PH have signed a Memorandum of Understanding (MOU) to accelerate financial literacy, innovation, and digital transformation in the Philippines. The partnership was formalized at the “Bagong Pilipinas: The Philippines Country Pavilion” during the Singapore FinTech Festival 2024.
The collaboration focuses on critical initiatives, including promoting financial literacy, conducting digitalization workshops for government agencies, and fostering public-private sector partnerships. Under the agreement, the DBM will spearhead efforts to streamline governance processes, enhance transparency, and improve public service delivery. FinTech Alliance.PH will support these goals by advocating for innovative policies, participating in government-led initiatives, and sharing data-driven insights to advance the Philippines’ digital economy.
Secretary Amenah Pangandaman of the Department of Budget and Management delivers her keynote speech on ‘Key Investments Imperatives in Making the Philippines a Digital Hub in Asia.’
Transforming PH into a digital hub
In her keynote address, DBM Secretary Amenah Pangandaman emphasized the government’s commitment to digitalization as a cornerstone of its development agenda. She also highlighted the institutionalization of open government partnerships and the adoption of a whole-of-government approach to increasing efficiency, transparency, and accountability.
“There are now over 393.6 million active e-money accounts in the Philippines, a 52.8% increase from 257.1 million in 2022. This surge underscores the rapid growth of digital-exclusive banks and initiatives that integrate the unbanked population,” Pangandaman said.
She also noted advancements in the Bangko Sentral ng Pilipinas (BSP)’s Open Finance initiatives, including the launch of the country’s first financial inclusion website. “This one-stop portal for regulations, issuances, and initiatives is a pivotal step in making financial services accessible to every Filipino,” she added.
The Philippine government has allocated ₱72.08 billion for ICT-related programs in 2025, reflecting its commitment to building a robust digital ecosystem.
Private-public synergy for a digitally inclusive future
During a fireside chat with finance journalist Salve Duplito, Secretary Pangandaman discussed the administration’s focus on digital transformation as a driver of economic growth under the theme “Digital at the Core of the Bagong Pilipinas Development Acceleration.”
FinTech Alliance.PH Co-Founding chairman Lito Villanueva reaffirmed the organization’s role in bridging the public and private sectors gap. “Our mission is to empower Filipinos with the tools and resources they need to achieve financial independence and embrace a digitally inclusive future,” Villanueva stated.
Bagong Pilipinas, forefront of innovation
The Bagong Pilipinas Country Pavilion, led by FinTech Alliance.PH, showcased the Philippines’ digital transformation efforts. It was a collaborative effort among the Bangko Sentral ng Pilipinas, DBM, Department of Finance, Office of the President, Securities and Exchange Commission, Credit Information Corporation, and the Department of Information and Communications Technology.
Corporate sponsors included the Bases Conversion and Development Authority, Land Bank of the Philippines, Maya, PLDT Enterprise, ATRAM Investments, and Philippine Airlines, in partnership with organizations such as Tala and Bureau Inc.
This landmark partnership between DBM and FinTech Alliance.PH represents a significant step toward achieving a financially empowered and digitally advanced Philippines. It sets the stage for sustained collaboration and innovation, driving inclusive economic growth for all Filipinos.
