MANILA, Oct 25, 2023 - (ACN Newswire) - In Southeast Asia, the Philippines stands as one of the most rapidly advancing economies. With a population of 106 million, the country boasts 50 million internet users and 34 million smartphone owners. Despite this, formal financial services remain accessible to only 20 million individuals, highlighting a significant gap in financial inclusion within the country.

Even with a population exceeding 100 million, the Philippines has rapidly emerged as a growing economy. However, a significant hurdle remains in the form of approximately 70 million unbanked individuals, severely constraining their access to both domestic and global financial networks.

Leveraging its digital payment achievements, the Philippine government has initiated multiple programs aimed at substantially boosting the uptake of digital transactions within the next two years. These endeavours are in line with its aspiration to cultivate a cash-lite economy and bolster financial inclusion rates. Officials anticipate that the integration of digital payment solutions will reduce transaction expenses and eliminate prevalent obstacles related to owning transaction accounts.

About the 20th Edition of BFSI IT Summit:

Dedicated to addressing challenges within the dynamic landscape of the Philippines, the summit aims to focus on key issues such as transitioning to a cashless economy and advancement of financial accessbility. Through insightful discussions, interactive workshops, and in-depth presentations, attendees will gain practical strategies and innovative solutions to navigate complexities and seize opportunities within the industry. The event fosters a collaborative learning environment, facilitating knowledge exchange among participants.

Exhibitors and sponsors will actively participate, showcasing tailored innovative solutions for the industry's pressing challenges. Their cutting-edge technologies, robust financial platforms, and strategic methodologies aim to bolster cybersecurity, enhance financial accessibility, and drive seamless digital integration. Anticipated contributions from stakeholders will provide comprehensive insights and actionable strategies, effectively addressing challenges and fostering sustainable industry growth.

The Banking, Finance, and IT Summit is scheduled to take place on 26th October at Hilton Manila in the vibrant city of Manila, Philippines. This summit is set to become the nucleus for the exploration of pioneering technological advancements and strategic initiatives within the BFSI sectors, with the support of National Privacy Commission, Digital Philipinas, Fintech Philippines Association, Cyber Security Philippines CERT, The London Institute of Banking & Finance and National Association of Data Protection Officers of the Philippines. Together with these esteemed partners, the summit aims to foster collaborative innovation and pave the way for a transformative future in the financial technology landscape of the Philippines.

The event will cover topics like:

• The Road Ahead: The Future of BFSI in the Philippines.
• Ushering financial inclusion opportunities with open banking.
• Fintech in the Philippines: Counting on Growth and opportunities.
• Leveraging new era for customer experience through digital platforms.
• Trends, Challenges, and Best Practises for Cloud Computing in the BFSI.
• Advancing the Digital Economy and Finance.
• Enhancing BFSI with AI, Automation and Machine Learning.
• Neo-Banks: Delivering A New Era of Banking for Advanced and Modern Customers.
• Infusing AI to power CX and the BFSI Industry.
• Defending the digital gates with Cyber security.

Who will attend?

The BFSI IT Summit will be attended by top executives and leaders like CIO, CTO, CDO, CISO, CDO, Head of IT Infrastructure, Heads of Information security, Head of IT Operation and Digital Advisors- Government from a variety of industries including Public Banks, Foreign banks, Fintechs & Neo Banks, Health Insurance Companies, NBFCs, Mutual Funds, Regional Rural Banks, Asset Management Companies, Private Banks, Commercial Banks  & General Insurance Firms. 

For more information on BFSI IT Summit, Philippines: https://bfsiitsummit.com/philippines/ 

About Exito

Exito, which means success in Spanish, embodies our commitment to the success of our customers. Each year, we host over 240 virtual and in-person conferences globally, bringing together audiences with world-class thought leaders and C-level executives across industries. Our meticulously crafted agendas, based on extensive research and valuable industry insights, facilitate business, knowledge transfer, deal flow, and impactful messaging for brands.

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