The inaugural Open Finance Revolution by the Fintech Philippines Association (FPH) took place on July 5 2023, at Shangri-La The Fort in Manila. A true milestone for all the drivers of embedded finance, open banking, and financial innovation in the region, the industry conference debut brought over 200 delegates and VIP speakers. As the chair of the FPH Open Finance Committee, Brankas played a pivotal role in organizing the conference and we are excited for what this means for the open finance industry.
Among the VIP speakers were SEC Commissioner Kelvin Lee, who revealed the intricacies of financial regulations and risk management to shed light on how the unbanked and underbanked can approach modern financial services securely. Undersecretary of DICT David Almirol also shared important plans by the government technology department to elevate the quality of financial services, in a bid to enable seamless government operations for Filipinos.
Brankas CEO and Co-founder Todd Schweitzer set the stage with his opening keynote address for the banking and open finance opportunities that lie ahead for businesses and consumers in the Philippines. This helped to welcome relevant discussions about payment innovation, customer experience, and technology advancement in industries like ridehailing, public transportation, gaming, and law.
On behalf of everyone at the FPH Open Finance Committee, we want to thank our sponsors Temenos, GrabForBusiness, DragonPay, Jointeff, and GoodTech. Special appreciation goes to the speakers and panelists who impressed the crowd with their expertise. But most importantly, we are thrilled to see the overwhelming reception to open finance in the region.
Driving the future of financial services requires the collaboration of consumers, fintechs, banks, and government agencies. Join Brankas and the FPH in unlocking the next wave of financial innovation and Banking-as-a-Service products.
For more information about providing an embedded finance experience for your customers, check out some of Brankas’ solutions for payments and data.
The financial world is rapidly shifting because of digitalization, and traditional credit scoring methods are being challenged and reinterpreted. Historically, banks have relied heavily on conventional data sources such as credit history, loan repayments, and income levels to assess an individual’s creditworthiness.
The role of payment rails cannot be overstated in our increasingly interconnected world. As businesses expand globally, consumers demand instant gratification and financial innovation surges. Payment rails serve as the linchpin that holds the digital economy together. They enable e-commerce giants to process millions of transactions daily, empower individuals to send remittances across borders with ease, and underpin the rise of cutting-edge financial technologies.
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