Villanueva
Fintech Alliance Philippines has officially expelled Digido Finance Corporation (Digido) from its roster of members, citing grave violations of the Alliance’s Code of Ethics.
The Alliance’s Board of Trustees reached the decision following an internal review that uncovered multiple serious breaches, including deceptive and anti-competitive practices, failure to safeguard consumer data, and signs of financial instability.
On May 6, 2025, the Alliance issued a Notice to Explain to Digido, which the firm failed to answer within the prescribed period. Soon after, on May 9, 2025, the Securities and Exchange Commission (SEC) issued FinLenD Order No. 2025-14, revoking Digido’s Certificate of Incorporation and its Certificate of Authority to operate as a financing company.
“Membership in Fintech Alliance PH is both a privilege and a responsibility,” said Lito Villanueva, Founding Chair of the Alliance. “We will never compromise on integrity, consumer protection, and responsible innovation. The expulsion of Digido sends a strong signal that unethical practices have no place in the Philippine fintech ecosystem.”
With the expulsion, all rights and privileges associated with Digido’s membership are immediately revoked. The company has been directed to cease any use of the Alliance’s name, logo, or affiliation.
The Alliance said the move underscores its commitment to protecting consumers, preserving trust, and promoting responsible innovation across the country’s growing fintech sector.