DOF affirms investment in digital economy, fintech

The Department of Finance said the government remains committed to invest in the digital economy, underscoring the valuable role of technology in finance.

During the recent Digital Banking Asia Conference, Diokno shared that the government advocates the rapid adoption of fintech, recognizing that the digital transformation of the country’s financial systems will lead to greater financial inclusion and opportunities. The Bureau of Customs worked with the United Nations Economic and Social Commission for Asia and the Pacific to establish a national action plan for cross-border paperless trade.

Digital banks are on the rise with the Bangko Sentral ng Pilipinas developing a digital financial marketplace model.

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