With a population of over 105.7 million, yet only 31% of that population owning a bank account, and only 4% of transactions happening online, The Philippines is a Southeast Asian region with Fintech potentials to financial empower and include this collection of islands. Singapore and Hong Kong are often most recognized within the Fintech sphere, with the rise of unicorns in Indonesia making major developments in the ASEAN region.
‘Financial inclusion’ is a phrase which is often misunderstood or misused in Fintech, yet the Philippines population demonstrates a perfect opportunity for entrepreneurs and innovators to aid individuals and businesses financially. As a new report from the Milken Institute has highlighted, 77% of the adult population did not have a formal financial account of any kind in 2017. They have attributed such a lack of financial availability to the geographical terrain of over 7000 islands, and historically financial poverty and reliance on physical cash.
Further, the Philippines hosts a growing youth population. Such a population, which is the 13th largest in the world, hosts a median age of 25 years old, compared to the East Asian regional median of 30. Nearly a third of the population is less than 15 years old. Further, such a youthful population is increasingly using mobile phones, with the number of hand-held device users predicted to reach to 75.6 billion users in 2020.
The potential for Fintech is summed up by Jack Ma, who has hailed the possibilities for the Philippines to create an innovative Fintech market:
‘You have so many mobile phones. You have 7,000 islands. It’s impossible for banks to have offices on 7,000 islands, covering everywhere. But mobile phones cover everywhere.’
Recent Trends
Payments
Smart money, is one of the top payment and e-wallet platforms which is linked to Mastercard and to the users SIM. Not only can users transfer money, but also top-up phone credit and pay bills. Coins.ph is another wallet which allows users to send money, pay bills, send remittances, buy game credits and even buy and sell cryptocurrencies. Users can also pay with bitcoin with zero percent fees.
With the increasing number of smartphone holders in recent years, payment Fintechs take up a third of the Fintech sphere in the country. Ayannah is one of the top mobile commerce payment services, targeting the ‘unbanked’ population.

Lending
Traditional lending in the Philippines can be long and tedious for the regular individual and SMEs to obtain. SMEs are essential to the local economy, yet obtaining loans can take as long as three visits to the bank and layers of forms and bureaucracy. Yet all of that is changing with the increasing variety of lenders in the region. First Circle offers loans to SMEs without having to come into the office and can offer such a loan within 5 days. Esquire also compete in the region. Esquire recognize the importance of SMEs as the Philippines engine of growth, yet recognize the shortcomings of the traditional system for budding entrepreneurs. Esquire tailors loans to each client, altering the financing options based on each client whilst also consulting SMEs to grow. Other players such as Lendr, FundKo and UpLoan are also aiding both individuals and businesses.

Blockchain-enabled finance
2019 also saw the first stablecoin pegged to the Philippine Peso for money transfers, created by Bitspark. The stablecoin has been created with the aim to improve money transfer. Bitspark, who enable cryptocurrencies across Africa and Asia hail Blockchain technology at the centre of such a creation.
In the Spotlight
Funding the latest ventures and generation of Fintech firms, Ayala Corp has launched a venture capital fund which will be the largest in the country. The Ayala Corporation Technology Innovation Venture (ACTIVE) Fund is intended to invest in early-stage startups that can be disruptive. The 150 million fund is a vast development in the Philippines, shaking up the traditional investment by family-owned funds investing in traditional industries such as banking and property.
The investments, in the hands of Kickstart Inc., will be targeted towards Series A to Series C funding, pushing startups in the Philippines forward as the South East Asian Fintech scene continues to grow. Such a fund reflects the promising growth of Fintech in the Philippines.
Metamorphosis
The 2018 EY Fintech report in ASEAN showed the increasing support for innovators looking to create in the Fintech realm. The key enablers, largely supported by the Bangko Sentral ng Pilipinas (BSP), entail the QBO Innovation Hub by Department of Trade and Industry and IdeaSpace, as well as its division helping with Regtech to develop cutting-edge digital supervision tools and techniques.
Beyond its borders, the BSP has established a formal strategic partnership with the Monetary Authority of Singapore (MAS). The two regulators signed a Fintech co-operation agreement in November 2017 which was designed to encourage collaboration on developing and supervising Fintech developments. Since then, the BSP created a Fintech Supervisory Sandbox and a special economic zone, making the Philippines even more attractive for prospective innovators and investors. The special economic zone, dubbed ‘Fintech City’, is located in Cagayan Province in Northern Luzon, hosting incubators, a cryptocurrency mining farm, a cryptocurrency exchange and a blockchain ventures.

Having gained experience in the UK Houses of Parliament, International Development and Chinese Think Tanks, Ellen has developed a passion for global affairs. She has undertaken her studies in the UK and has lived and worked in multiple countries including India, Switzerland, Spain and Hong Kong. She currently undertakes her studies at the University of Warwick, studying International Relations and Politics with a focus on Business. Ellen translates her passion for politics to the world of financial technology where she demonstrates a particular interest in developments in Asia.
Pingback: is viagra generic
Pingback: cialis generic
Pingback: how much does cialis cost
Pingback: cialis canadian pharmacy
Pingback: cialis daily cost
Pingback: viagra 100mg
Pingback: best otc ed pills
Pingback: buy ed pills online
Pingback: cheap erectile dysfunction pills online
Pingback: cialis 10mg
Pingback: walmart pharmacy
Pingback: canada online pharmacy
Pingback: Buy cialis online
Pingback: levitra pills
Pingback: online levitra
Pingback: levitra 10 mg
Pingback: casino online slots
Pingback: red dog casino
Pingback: viagra prescription
Pingback: real casinos online no deposit
Pingback: best online casino usa
Pingback: generic cialis tadalafil
Pingback: loans online
Pingback: online loans
Pingback: online loans
Pingback: viagra prescription
Pingback: best real money online casinos
Pingback: new cialis
Pingback: williestox
Pingback: Mybookie
Pingback: most popular online casino slot games
Pingback: Bovada
Pingback: cialis 20
Pingback: cialis 20
Pingback: buy cialis
Pingback: cialis 20
Pingback: generic viagra reviews
Pingback: play casino
Pingback: slot machine
Pingback: online casino games for real money
Pingback: viagra online pharmacy
Pingback: viagra cheap
Pingback: buy viagra online cheapest
Pingback: canada viagra
Pingback: erectile dysfunction pills
Pingback: viagra no prescription
Pingback: cheapest generic viagra
Pingback: tadalafil dosage
Pingback: cheap viagra generic
Pingback: buy viagra now
Pingback: cialis tadalafil
Pingback: female viagra reviews
Pingback: buy viagra cheap
Pingback: buy viagra online cheap
Pingback: buy tadalafil
Pingback: cheap geneirc viagra
Pingback: viagra 100mg
Pingback: buy cialis online overnight shipping
Pingback: casino world
Pingback: real money casino
Pingback: http://viagrabs.com/
Pingback: viagra pills 100mg
Pingback: viagra from india
Pingback: buy viagra online in india
Pingback: buy viagra safely online
Pingback: propecia online
Pingback: generic viagra pills
Pingback: where to buy cialis
Pingback: can you buy viagra without prescription in uk
Pingback: buy viagra online
Pingback: buy viagra
Pingback: daily cialis canadian pharmacy
Pingback: cheap sildenafil
Pingback: Viagra 50 mg cost
Pingback: Viagra 100 mg without prescription
Pingback: sildenafil
Pingback: Viagra 100 mg united kingdom
Pingback: cialis cost
Pingback: viagra without doctor prescription
Pingback: Viagra 50 mg over the counter
Pingback: Cialis 10mg without a prescription
Pingback: Cialis 10 mg united states
Pingback: ciali online
Pingback: buy viagra
Pingback: cialis prices
Pingback: viagra online
Pingback: buy viagra online
Pingback: Cialis 40 mg pharmacy
Pingback: Cialis 60mg australia
Pingback: buy generic viagra
Pingback: Cialis 10mg cost
Pingback: canadian pharmacy vikky
Pingback: tadalafil 60 mg without prescription
Pingback: levitra 40 mg cost
Pingback: buying prescription drugs from canada
Pingback: how to purchase propecia 1mg
Pingback: order viagra
Pingback: finasteride 1 mg prices
Pingback: viagra canada
Pingback: abilify 15mg tablet
Pingback: sildenafil 50 mg sans ordonnance
Pingback: aldactone 25mg medication
Pingback: allopurinol 300mg nz
Pingback: cheap amoxicillin 250 mg
Pingback: arava 20mg coupon
Pingback: cheap cialis
Pingback: strattera 25mg usa
Pingback: buy brand viagra 100mg online
Pingback: tamoxifen 20 mg pharmacy
Pingback: cialis for sale
Pingback: ashwagandha 60caps prices
Pingback: shelf life of cialis
Pingback: meds online without doctor prescription
Pingback: healtyman viagra
Pingback: where to buy avodart 0,5mg
Pingback: buy benicar 10 mg
Pingback: cialis long term side effects
Pingback: viagra for sale
Pingback: viagra.com
Pingback: Biaxin 500 mg tablets
Pingback: cheap Premarin 0,3 mg
Pingback: marley generics sildenafil
Pingback: cialis professional tadalafil
Pingback: canada viagra
Pingback: cialis online
Pingback: where can i buy casodex 50 mg
Pingback: viagra for men
Pingback: catapres otc
Pingback: viagra without a doctor prescription
Pingback: ceclor cost
Pingback: ceftin 500mg cost
Pingback: celebrex online pharmacy
Pingback: buy cheap prescription drugs online
Pingback: celexa united states
Pingback: cephalexin 500 mg united kingdom
Pingback: buy cipro
Pingback: generic viagra online
Pingback: cialis 20mg
Pingback: claritin price
Pingback: real money online casino
Pingback: play online casino real money
Pingback: casino online games for real money
Pingback: best online casino
Pingback: casino games win real money
Pingback: online gambling
Pingback: generic cialis
Pingback: casino real money
Pingback: live casino slots online
Pingback: online casino real money no deposit
Pingback: online casino usa real money
Pingback: ameriprise car insurance quotes costco
Pingback: viking insurance for car
Pingback: best car insurance
Pingback: viagra price in indian rupees
Pingback: cialis online
Pingback: car insurance quotes online
Pingback: online car insurance quotes instant
Pingback: texas car insurance quotes
Pingback: cialis without prescriptions
Pingback: tadalafil cialis
Pingback: nj car insurance
Pingback: tadalafil without a doctor's prescription
Pingback: online car insurance quotes instant
Pingback: tadalafil cialis
Pingback: accurate automotive
Pingback: auto club insurance
Pingback: top ed pills
Pingback: legit personal loans
Pingback: Buy viagra now
Pingback: payday loans in sc
Pingback: compare payday loans
Pingback: no credit check installment loans
Pingback: viagra samples for providers
Pingback: online quick loans california
Pingback: au cialis
Pingback: bad credit loans no credit check
Pingback: amoxicillin 500 mg tablets
Pingback: online payday loan lenders
Pingback: online personal loans tn
Pingback: cbd oil health benefits
Pingback: best cbd oil for pain for sale
Pingback: best generic cialis
Pingback: high cbd cannabis seeds for sale
Pingback: stores that sell cbd oil
Pingback: viagra make longer
Pingback: instant online payday loans
Pingback: viagra by pfizer
Pingback: where can i buy levitra in australia
Pingback: cbd oil side effects constipation
Pingback: cbd oil benefits 2016 usa
Pingback: cbd oil arthritis
Pingback: define assignments
Pingback: viagra sign up
Pingback: urgent essay writing service
Pingback: academic essay writer
Pingback: online essay writing
Pingback: scholarship essay writing service
Pingback: how to writing essay
Pingback: free research paper writer
Pingback: how to write a good argument essay
Pingback: discovery ed assignments
Pingback: cleocin medication
Pingback: order clomid
Pingback: co lepsze viagra czy cialis
Pingback: clonidine 0,1mg purchase
Pingback: cost of clozaril
Pingback: Buy brand viagra
Pingback: colchicine 0,5 mg usa
Pingback: cialis warnings
Pingback: generic viagra mexico
Pingback: combivent australia
Pingback: cheap coreg
Pingback: compare pharmacy prices for prescriptions
Pingback: cialis 5 mg dopo prostatectomia
Pingback: compazine united kingdom
Pingback: Pfizer viagra
Pingback: coumadin 1mg no prescription
Pingback: how to purchase cozaar
Pingback: where can i buy crestor 10 mg
Pingback: generic viagra
Pingback: order cialis online canada
Pingback: where can i buy cymbalta
Pingback: dapsone 1000caps purchase
Pingback: buy ddavp
Pingback: how to buy depakote 500mg
Pingback: diamox united kingdom
Pingback: differin 15g nz
Pingback: where to buy diltiazem 90 mg
Pingback: Canadian generic viagra online
Pingback: viagra prices
Pingback: doxycycline 100mg nz
Pingback: cost of dramamine
Pingback: elavil 10mg online
Pingback: generic drugs
Pingback: erythromycin coupon
Pingback: etodolac uk
Pingback: flomax 0,4mg usa
Pingback: cheap Nolvadex
Pingback: flonase nasal spray for sale
Pingback: persuasive essay help
Pingback: cialis mail order australia
Pingback: best male enhancement
Pingback: geodon united states
Pingback: buy hyzaar
Pingback: viagra online
Pingback: cost of imdur
Pingback: how long for cialis to peak
Pingback: cialis 20mg price
Pingback: imitrex 25 mg tablets
Pingback: buy imodium 2mg
Pingback: where to buy viagra
Pingback: does viagra make you last longer
Pingback: viagra dosage for 70 year old
Pingback: this link
Pingback: canadian pharmacy meds
Pingback: imuran without a doctor prescription
Pingback: zithromax buy online
Pingback: indocin australia
Pingback: lamisil 250 mg without a prescription
Pingback: cheap generic viagra
Pingback: levaquin 500mg australia
Pingback: where to buy lopid 300 mg
Pingback: viagra for sale
Pingback: cheap lopressor 50 mg
Pingback: luvox 100 mg no prescription
Pingback: macrobid for sale
Pingback: cheapest meclizine 25 mg
Pingback: what does female viagra do
Pingback: best erectile dysfunction medication
Pingback: online pharmacy without scripts
Pingback: mestinon pills
Pingback: online canadian discount pharmacy
Pingback: mexican pharmacy online
Pingback: micardis 80 mg over the counter
Pingback: cheap Zovirax
Pingback: us pharmacy no prior prescription
Pingback: mobic 15mg united states
Pingback: canadian pharmacies shipping to usa
Pingback: erectile dysfunction pills
Pingback: cost of motrin
Pingback: canada drug pharmacy
Pingback: las vegas viagra
Pingback: where can i buy nortriptyline 25 mg
Pingback: periactin 4 mg without a doctor prescription
Pingback: viagra
Pingback: phenergan 25mg uk
Pingback: plaquenil 400mg coupon
Pingback: buy prednisolone 10mg
Pingback: prevacid canada
Pingback: prilosec usa
Pingback: generic viagra online
Pingback: proair inhaler online
Pingback: procardia price
Pingback: generic viagra online
Pingback: proscar tablets
Pingback: protonix 40mg generic
Pingback: viagra generic
Pingback: provigil 200 mg australia
Pingback: acne antibiotic doxycycline
Pingback: pulmicort 200mcg without prescription
Pingback: can you buy amoxicillin over the counter
Pingback: pyridium generic
Pingback: reglan 10mg purchase
Pingback: remeron prices
Pingback: zyrtec-d high
Pingback: retin-a cream 0.025% australia
Pingback: allegra 280
Pingback: revatio pills
Pingback: cheap risperdal
Pingback: robaxin 500mg pharmacy
Pingback: how to purchase rogaine 5%
Pingback: seroquel 100mg without a doctor prescription
Pingback: singulair 10mg cost
Pingback: cost of skelaxin 400 mg
Pingback: where to buy viagra
Pingback: spiriva 9mcg without a doctor prescription
Pingback: tenormin 50 mg pharmacy
Pingback: thorazine coupon
Pingback: cheap viagra 100mg
Pingback: toprol canada
Pingback: tricor 200 mg united states
Pingback: valtrex for sale
Pingback: vantin 200 mg canada
Pingback: verapamil 40 mg united kingdom
Pingback: where to buy voltaren
Pingback: wellbutrin 150 mg cost
Pingback: safe website to buy generic cialis without a prescription
Pingback: zanaflex 2 mg prices
Pingback: zithromax 250mg united states
Pingback: Read Full Report
Pingback: zocor united states
Pingback: can i buy zithromax over the counter
Pingback: generic viagra me uk
Pingback: zyloprim pharmacy
Pingback: zyprexa nz
Pingback: how to buy zyvox
Pingback: sildenafil cost
Pingback: tadalafil cheap
Pingback: furosemide 40 mg prices
Pingback: escitalopram 10 mg nz
Pingback: aripiprazole 10 mg generic
Pingback: buy amoxicillin 500mg capsules uk
Pingback: pioglitazone over the counter
Pingback: canadian drugs pharmacy
Pingback: spironolactone usa
Pingback: fexofenadine over the counter
Pingback: glimepiride purchase
Pingback: meclizine usa
Pingback: leflunomide 20mg united states
Pingback: atomoxetine united states
Pingback: anastrozole price
Pingback: sildenafil
Pingback: irbesartan without a prescription
Pingback: dutasteride 0,5mg without a prescription
Pingback: olmesartan pills
Pingback: buspirone 5mg without a prescription
Pingback: clonidine 0.1 mg uk
Pingback: cefuroxime pharmacy
Pingback: celecoxib tablets
Pingback: cialis for sale in toront ontario
Pingback: cheap citalopram
Pingback: cialis super active vs professional
Pingback: cephalexin 500mg united kingdom
Pingback: cialis 20 mg cost
Pingback: generic cialis
Pingback: ciprofloxacin online pharmacy
Pingback: generic cialis tadalafil
Pingback: cialis online pharmacy australian
Pingback: cheap clindamycin
Pingback: buy cialis canadian
Pingback: clozapine no prescription
Pingback: natural alternative to viagra
Pingback: cialis original for sale
Pingback: prochlorperazine tablet
Pingback: medications without a doctor's prescription
Pingback: buy brand cialis overnight
Pingback: where to buy carvedilol 3.12 mg
Pingback: where can i buy warfarin
Pingback: rosuvastatin purchase
Pingback: order generic cialis online 20 mg 20 pills
Pingback: can you get viagra without prescription
Pingback: divalproex australia
Pingback: order trazodone 50mg