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.

BSP, DILG, GCash roll out Paleng-QR Ph in Calamba, Laguna

From left: City of Calamba licensing officer Peachy Galang, public market administrator Olive Natividad, business permits and Tltricycle franchising office head Bernadette Opulencia, Office of the Mayor executive assistant Aileen Rizal, GCash South Luzon public sector account manager Emilio Ylanan, City of Calamba councilor Maria Kathrina V. Silva, GCash Luzon public sector team lead Rosemarie Abarquez, City of Calamba administrator Johnny R. Pamuspusan and GCash South Luzon ecosystem development manager Arvin Dimaano

 In line with its collective effort to promote cashless transactions and achieve financial inclusion nationwide, the Bangko Sentral ng Pilipinas (BSP) and the Department of the Interior and Local Government (DILG) rolled out the Paleng-QR Ph initiative in Calamba City, Laguna, in cooperation with the country’s number one finance super app, GCash.

Under the joint initiative, market vendors and tricycle drivers in Mercado de Calamba can easily transact with their customers through GCash QR codes. With this, vendors, drivers, and consumers can have a safer and more seamless shopping experience, ultimately boosting the growth of the digital economy, especially at the grassroots.

With the Paleng-QR launch, locals at the Mercado de Calamba can now experience safer and more convenient cashless transactions. GCash has currently onboarded a total of 456 market vendors, over 50 Tricycle Operators and Drivers Associations (TODA) in and around Mercado de Calamba, and 380 stores city-wide, making it the second city in Laguna with the highest implementation of the GCash QR code payment method in its public markets.

In addition, GCash has also onboarded vendors in the city as GCash Pera Outlet (PO) partners. This feature on the app allows small merchants to earn extra income and grow their businesses by offering customers in the community convenient access to various GCash services such as cash-in, cash-out, pay bills, and claim padala.

To further help its citizens become financially empowered, GCash also partners with the Local Government Unit (LGU) to launch Pay Online for easier and more convenient payment options for real property tax, business permits, and more. GCash is also set to conduct a series of financial literacy programs and more activities to further educate consumers on how they can use and maximize the GCash app, including access to financial services such as GCredit, GLoans, GInsure, and more. GCash also aims to educate locals on how to better secure their accounts and prevent being scammed to promote trust in using financial technology.

By creating more strategic partnerships with LGUs and communities, GCash continues to fast-track its goal of ‘Finance for All”, allowing Filipinos to have easy access to safe, secure, and convenient digital financial products and services, empowering communities nationwide. 

The GCash app is available for free on Google Play and the App Store.

For more information, visit www.gcash.com.ph