Connect with us

Hi, what are you looking for?

HEADLINES

Huawei PH holds FSI 2021 to explore more inclusive growth in digital economy

Huawei Philippines held the Intelligent Finance Summit 2021 on November 18. This is the second year Huawei had this event locally, focusing on the foundational technologies that need to be implemented to achieve truly intelligent finance.

With the theme of “Digital Infrastructures for Inclusive Digital Economies”, Huawei Philippines held the Intelligent Finance Summit 2021 on November 18. This is the second year Huawei had this event locally, focusing on the foundational technologies that need to be implemented to achieve truly intelligent finance.

During the event, Huawei had multi-layered perspectives and voices from Key Opinion Leaders, Industry Visionaries and Business Leaders from the Financial Services Industry – Bangko Sentral ng Pilipinas, Fintech Philippines Association, UnionDigital and PayMaya. Together, they shared insights on digital trends, best practices and explore how to prioritize digital infrastructures to achieve inclusive growth in the digital economy in 2022, and beyond.

BSP marked during the event that, “To further advance the BSP’s policy agenda, we also support critical information communication technology reforms. These initiatives aim to provide those who are currently unbanked or underbanked much needed access to expansive financial services”.

Jason Cao, the President of the Global Financial Services Business of Huawei Enterprise BG, stated during his speech,” Huawei has been engaged in FSI for a decade. Throughout our 10 years of growth, we have served more than 2,000 financial institutions in over 60 countries and regions, including 48 of the world’s top 100 banks. Huawei has become an important partner in the digital transformation of the global FSI.”

The demand for inclusive finance in Philippines is booming. The Central Bank of the Philippines has set an ambitious target in the 2021 to 2023 Digital Payments Transformation Roadmap goals to achieve an efficient, safe and inclusive payments ecosystem, expanding the financial inclusivity of the Philippine banking system to cover 70% of the total population by converting 50% of the total volume of retail payments into digital form. 

Amor Maclang, Executive Director of Fintech Philippines Association, Convenor of World Fintech Festival in Philippines, shared her view,“ 3 years into the journey of the ASEAN FinTech Era, deep integration into various verticals is needed for widespread adoption. Our primary focus is Web 3.0 – a horizontal that will cut across industries to bring us to a digitally inclusive future. The Digital Pilipinas movement is in a constant state of outreach to help our economy tech up and not get left behind.” 

Advertisement. Scroll to continue reading.

In a panel discussion on The Effects of Digital Transformation on Accelerated Financial Inclusion, key industry leaders set out how to unlock new financial value and prioritize digital trends to as the Philippines grows its digital economy.  

Arvie de Vera, Co-Founder and CEO of UnionDigital, when asked about the use of blockchain in expanding financial inclusion, said the Philippines was currently Teching Up, “where we are creating more access, through blockchain, for the previously financially excluded institutions – we can interconnect the possibilities of open finance as banking is no longer a vertical, but a horizontal across all platforms and industries.” 

“Businesses of all sizes across industries are driving e-Commerce and embracing digital payments. As the country’s largest payment processor for everyday merchants, we’re seeing rapid growth, especially among MSMEs. Whether via online storefronts, app, or social media, any business can now easily accept digital payments. This is a good example of how financial technology is enabling inclusive growth,” said Mitch Padua, Chief Product Officer (CPO) of PayMaya Philippines.

Huawei have cooperated with leading financial institutions in many countries and regions, such as Singapore, Hong Kong, Thailand, Germany, France, Switzerland, Saudi Arabia, and so on. In the Philippines, we have worked with our key partners in BDO Unibank and Unionbank of the Philippines of accelerate the digital transformation of their operations and services.

About Huawei

Founded in 1987, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. We have more than 197,000 employees, and we operate in more than 170 countries and regions, serving more than three billion people around the world. Our vision and mission is to bring digital to every person, home and organization for a fully connected, intelligent world. To this end, we will drive ubiquitous connectivity and promote equal access to networks; bring cloud and artificial intelligence to all four corners of the earth to provide superior computing power where you need it, when you need it; build digital platforms to help all industries and organizations become more agile, efficient, and dynamic; redefine user experience with AI, making it more personalized for people in all aspects of their life, whether they’re at home, in the office, or on the go. For more information, please visit Huawei online at www.huawei.com or follow us on: https://www.facebook.com/HuaweiTechPH/.

Advertisement. Scroll to continue reading.
Advertisement
Advertisement

Like Us On Facebook

You May Also Like

HEADLINES

The groups, led by Konsyumer Negros, Bukluran ng Manggagawang Pilipino (BMP), Partido Lakas ng Masa (PLM), Sanlakas, and think-tank Center for Energy, Ecology, and...

HEADLINES

Bayad continues to carry out its mission of providing innovative, efficient, and accessible payment solutions for everyone by forming partnerships with various institutions. With...

ELECTRONICS

The new launch answers what Filipino consumers wanted: smart products to make homecare simpler and multi-tasking easier. With the DEEBOT T9 and DEEBOT N8...

HEADLINES

Coins.ph currently has over 16 million customers enjoying access to e-wallet services such as local and international remittances, buying mobile load, bill payments, and...

HEADLINES

St. Peter Life Plans and Chapels, a deathcare services provider, launched its eStore, an online store for providing casket options for its planholders and...

HEADLINES

Surveying almost 600 respondents online from June 16 to June 30, 2021, PLDT Global’s Digital Behavior of Overseas Filipinos study said that OFWs send...

HEADLINES

The new facility in Manila reinforces Zebra’s commitment to Southeast Asia, and it joins existing service centers in Singapore, Malaysia, Indonesia, Thailand, and Vietnam.

HEADLINES

An EY Work Reimagined Employer Survey showed that 84% of companies in the region plan to make moderate to extensive hybrid work changes and...

Advertisement