Fintech Provides Filipinos with Glimpse of Innovations in Online Financing and Lending Forum

MANILA – How is technology beneficial to the finance and lending sector as well as to Filipinos in this day and age?

That is the question posed and answered by distinguished guests who are top officials in their respective industries in an online forum organized by the Fintech Philippines Association last Wednesday, April 24 over Zoom.

Attendees from the business and scholastic sector listened to Global Dominion Financing Inc.’s (GDFI) Chief HR Officer Don Matias, South Asialink Finance Corporation’s (SAFC) Digital Process Innovation Head Seve Linis, and PLDT Enterprise’s Corporate Business Head Joyce Abegail “AJ” Villanueva as they discussed the significance of digital innovation that is vital to their respective company’s growth as well as that to the country.

The growth of the Philippines’ Gross Domestic Product by 5.6% in 2023 also saw the upsurge in various sectors.

The last quarter spark of 2023 saw financial and insurance activities grow by 11.8%, no doubt driven by the 13.4% expansion of banking institutions.

In the midst of all of this was the digital innovation by many companies.

Matias divulged that GDFI began 2023 with 719 employees and finished with 1003 while maintaining the attrition rate of 2.84%.

“In growing a company, it is a must that the employees should grow,” explained Matias. “We provided 100 technical courses regardless of the level. The growth meant 92.3% in terms of internal promotions, and in doing so, saw more than 300 job openings become available to the company.”

On SAFC’s part, Linis pointed to his company’s never-ending pursuit for digital initiatives that enhance customer services in the digital finance landscape, now delivering results in as little as a few seconds to under a minute.

Linis also stressed SAFC’s improved asset management interface, an easy access website experience, and online visibility as keys to their growth in this past calendar year.

During her portion, Villanueva highlighted that the PLDT group provides vital services and solutions that help improve the lives of Filipinos and businesses. This is why the drive to elevate the quality of customer experience is common across the group and its partners. She also emphasized that for PLDT Enterprise, the B2B arm of PLDT, customers are paramount, and the telco group is committed to innovating technologies that drive customer success.

All three guests stressed that technological innovation is constant and relevant in their services and that they play a large role in everyday life.

The forum, added Fintech host Aian Guanzon, is for attendees to also learn about how financing and lending affects and improves their lives.

Linis summed up the forum’s significance, “Having discussions and associations like this are a platform to share knowledge and technologies and solutions that address common challenges from compliance, regulation, and fraud among others. And finding what technology works best with your company.”

The next Financing and Lending forum, according to Guanzon, will be about regulatory compliance.