Honoring innovation leaders in the 4th Digital Financial Inclusion Awards

With technology reshaping the financial landscape and bridging gaps in accessibility, the 4th Digital Financial Inclusion Awards (DFIA) have recently been launched. The awards program aims to recognize the outstanding contributions of microfinance institutions (MFIs) and microentrepreneurs advancing financial empowerment through digital innovation. Powered by Citi Foundation in partnership with the Microfinance Council of the Philippines, Inc. (MCPI) and supported by the Bangko Sentral ng Pilipinas (BSP), the DFIA serves as a platform to honor trailblazers of digital financial transformation.

(L-R) Microfinance Council of the Philippines chairperson Gilbert Maramba, Bangko Sentral ng Pilipinas governor and national selection committee co-chair Eli M. Remolona Jr. and Citi Philippines chief executive officer Paul Favila

The program launch was held at the BSP and was led by BSP Governor Eli Remolona Jr., MCPI Chairperson Gilbert Maramba, and Citi Philippines CEO Paul Favila, together with 3rd DFIA Microentrepreneur Digital Champion Mr. Teodoro Lamang, Jr. The awarding ceremony for the 4th DFIA will take place later this year on November 21. “With the measures we’ve put in place, digital finance is becoming more secure, efficient, and inclusive. The entrepreneurs we will honor prove that going digital isn’t something to fear – it’s something to embrace,” said BSP Governor Remolona. The DFIA will recognize MFIs that effectively incorporate digital innovations to provide inclusive and efficient financial services to underserved communities. The program will commend institutions and individuals demonstrating excellence in harnessing digital tools to improve customer experience, streamline operations, and develop groundbreaking financial solutions for microentrepreneurs. Nominees will be evaluated based on their digital adoption, measurable impact, and contributions to financial inclusion. This year, four MFIs and fifteen microentrepreneurs will be celebrated as digital trailblazers for their outstanding achievements.

(L-R) BSP regional operations and advocacy sector Bernadette Romulo Puyat and 3rd DFIA digital champion Teodoro Lamang Jr.

Awardees will receive cash prizes of PHP100,000 and laptops to further strengthen their digital transformation initiatives. In line with MCPI’s broader efforts to advance financial inclusion, the program will also provide knowledge-sharing opportunities to help more MFIs adopt digital solutions effectively.

Meanwhile, Favila also reinforced Citi Foundation’s dedication to fostering financial inclusion through digital advancement, stating that, “At Citi, we are committed to doing our part to help advance economic opportunity and address social challenges. The Digital Financial Inclusion Awards is the perfect opportunity for this as we champion and recognize the efforts of our Filipino microentrepreneurs in ensuring their businesses are ready for the future.”

Noting the growing influence of digitalization in microfinance, Maramba said, “This underscores how technology has not only optimized institutional efficiency but also empowered countless microentrepreneurs to achieve financial stability.”

Citi Foundation remains committed to driving economic progress and enhancing financial well-being for low-income communities worldwide. The foundation prioritizes financial inclusion, youth employment opportunities, and economic development. MCPI represents 64 microfinance institutions encompassing 90 percent of the sector in the Philippines. Through advocacy, capacity-building, and network development, MCPI continues to champion financial inclusion and microenterprise development.