The ASEAN Edge

By Lito Villanueva, Chief Innovation and Inclusion Officer of RCBC

There’s an age-old commandment that says, “Do unto your neighbors as you would have them do unto you.” It is a simple truth that transcends faith, culture, and borders. It is also a much-needed reminder in today’s politically complex landscape that progress, like kindness, multiplies when shared. In the world of fintech and innovation, this principle finds new meaning. 

In the ASEAN region, our neighbors are not competitors, but collaborators. They are our partners in building an ecosystem where technology uplifts, empowers, and connects. To treat our neighbors well is to treat our shared future with care. Because without the other, who are we? 

In a region as diverse and dynamic as Southeast Asia, one truth continues to ring clear: collaboration is power. The story of fintech in ASEAN has never been about competition; it has always been about community. This shared drive for inclusive progress is always on full display at pivotal events every year: the Singapore FinTech Festival (SFF) and the Hong Kong FinTech Week 2025, where the world once again turns its attention to Asia’s innovation hubs. 

Forging alliances for the greater good, in this case, sustainable finance and inclusion, are key drivers in the success of events like SFF. Last year, the Philippines showcased this collaborative spirit through the “Bagong Pilipinas” Country Pavilion, a unified effort led by the FinTech Alliance.PH, the country’s largest digital finance industry group with over 140 corporate members collectively driving more than 95% of digital retail financial transaction volume. This year, we look forward to even more milestones and accomplishments. 

Our vision to advance financial literacy, digital transformation, and inclusive economic growth through a whole-of-nation, whole-of-society approach will only gain more traction this time around. 

This partnership brought together key government institutions, like the Bangko Sentral ng Pilipinas, Department of Finance, Securities and Exchange Commission, Department of Information and Communications Technology, Department of Budget and Management, and more, with private sector leaders from legacy institutions and fintech brands. 

What makes these weeks truly meaningful is the recognition that the digital economy is not the domain of any single sector, but a shared endeavor. As I shared during the festival, “Our mission is to empower Filipinos with the tools and resources they need to achieve financial independence and embrace a digitally inclusive future.” 

We look forward to the Bagong Pilipinas Pavilion, which serves as the Philippines’ innovation embassy, showcasing government-led digitization, inclusive banking, and AI-driven finance. It proves how public-private synergy can drive digital acceleration and ensure that no Filipino is left behind. 

Among its milestones was the Call to Action for Financial Health Metric, presented before Her Majesty Queen Máxima of the Netherlands, the UN Secretary-General’s Special Advocate for Inclusive Finance for Development. The initiative reaffirmed the Philippines’ leadership role in financial inclusion within ASEAN, leveraging data and partnerships to measure progress on financial health. 

As DBM Secretary Amenah Pangandaman noted, there are now over 393 million active e-money accounts in the country, a testament to how collaboration among regulators, banks, and fintech innovators has changed how Filipinos save, spend, and invest. 

We also look forward to this year’s Hong Kong FinTech Week 2025, as we build upon that momentum with a forward-looking theme that emphasizes AI innovation, digital assets, and cross-border collaboration. From policy forums to sessions exploring tokenized money, cross-border payments, and AI-first banking, the agenda reflects Asia’s central role in defining the next generation of financial technology. 

Crucially, many of these sessions align with ASEAN’s shared priorities: expanding MSME access to credit, developing interoperable payment systems, and fostering responsible AI in finance. With the participation of global and regional players such as Standard Chartered, HSBC, BOC, Maya, and AlipayHK, Hong Kong’s gathering is set to further strengthen interconnectivity across our digital economies. 

At the heart of all these milestones lies one enduring value: the spirit of bayanihan, our Filipino term for communal unity and cooperation. Across ASEAN, that same spirit drives the growth of digital economies and the collective pursuit of inclusion. 

When one nation advances in digital literacy, or when one ecosystem succeeds in establishing open finance standards, the entire region benefits. Our task, therefore, is not only to innovate but to integrate. Every digital stride uplifts the many, not the few. 

The fintech movement in Asia is no longer about isolated success stories. It’s about shared transformation. Whether through the Bagong Pilipinas Pavilion in the Singapore Fintech 

Festival or through the global conversations at Hong Kong FinTech Week 2025, the message is clear: collaboration is not a strategy; it is the cornerstone of sustainable innovation. 

By working hand in hand with governments, startups, and institutions alike, we are building an ASEAN that is not only digitally connected but financially empowered, resilient, and inclusive. 

The true ASEAN edge lies not in technology alone but in our collective spirit of unity and cooperation. It is this shared purpose that turns innovation into inclusion and progress into prosperity. When ASEAN moves as one, every nation draws strength from the other. 

In the end, our greatest fintech innovation is not technology itself. It is togetherness. 

Lito Villanueva is the Philippines’ leading thought leader in inclusive digital finance. As EVP and Chief Innovation and Inclusion Officer of RCBC, he has driven large-scale digital initiatives that advanced financial inclusion. He is the founding chairman of FinTech Alliance PH, representing 95% of digital retail financial transactions, and the first global chairman of the Alliance of Digital Finance Associations. Recognized as a People Asia Men Who Matter 2025, Asia Trailblazer, and AGORA Awardee, he continues to shape the fintech landscape in the Philippines and beyond.