How does technology benefit the finance and lending sector, as well as Filipinos in this day and age?
This question was posed and answered by distinguished guests who are top officials in their respective industries in a recent online forum organized by the Fintech Philippines Association.
Attendees from the business and academic sectors listened as 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, discussed the significance of digital innovation vital to their respective companies’ growth and to the country as a whole.
The growth of the Philippines’ Gross Domestic Product by 5.6 percent in 2023 also led to an upsurge in various sectors.
In the last quarter of 2023, financial and insurance activities grew by 11.8 percent, driven largely by the 13.4 percent expansion of banking institutions.
Matias revealed that GDFI started 2023 with 719 employees and ended with 1003, maintaining an attrition rate of 2.84 percent.
“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 percent in terms of internal promotions and in doing so, saw more than 300 job openings become available to the company.”
Linis also stressed SAFC’s improved asset management interface, emphasizing an easy-access website experience and enhanced online visibility as keys to their growth in the past calendar year.
During her segment, Villanueva highlighted that the PLDT group provides vital services and solutions that significantly improve the lives of Filipinos and businesses alike.
All three guests stressed that technological innovation is constant and relevant in their services and plays a large role in everyday life.
The forum, as Fintech host Aian Guanzon added, serves as a platform for attendees to learn how financing and lending impact and enhance their lives.
Linis summed up the forum’s significance, “Having discussions and associations like this is 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.”
According to Guanzon, the next Financing and Lending forum will focus on regulatory compliance.