Philippine fintech groups partner on digital economy

RCBC, a Philippine bank, announced that FinTech Alliance.PH and the Australia Philippines Business Council (APBC) have signed an agreement to cooperate on fintech and the digital economy. The partnership covers digital banking, AI, cybersecurity, blockchain, financial inclusion, and digital connectivity. Both organizations are pushing for closer regional cooperation on digital transformation and innovation, with plans to support trade missions, conferences, and industry engagement activities between Australia and the Philippines.

Partnership Focus Areas

The cooperation agreement encompasses:

• Digital banking and financial services
• Artificial intelligence applications
• Cybersecurity frameworks
• Blockchain technology
• Financial inclusion initiatives
• Digital connectivity infrastructure

Planned Activities

The partnership includes concrete planned activities:

Australia-Philippines Technology Forum (May 2026, Sydney): The forum will bring together leaders from Bangko Sentral ng Pilipinas (the Philippine central bank), plus technology and industry groups.

Manila Tech Summit 2026: Positioned as a venue to advance the Asean Digital Economy Framework Agreement (DEFA) implementation, with focus on cross-border digital trade, trusted data flows, and interoperable payments.

Regional Context and Strategy

The agreement builds on prior cooperation. FinTech Alliance.PH signed a memorandum of understanding with the Australian Trade and Investment Commission (Austrade) in late 2023 to expand fintech trade and investment ties.

The partnership aligns with national strategies: Australia's Southeast Asia Economic Strategy to 2040 and the Philippines Development Plan 2023-2028.

The Philippines is leveraging its ASEAN chairship to back the Asean Digital Economy Framework Agreement. Through bilateral partnerships such as this agreement with Australia, the Philippines is working to develop a cohesive Southeast Asian digital market spanning approximately 670 million people.

Source: Rizal Commercial Banking Corporation