Innovation, education needed to boost fintech

TO spur further growth in the financial technology (fintech) industry in the Philippines, there is a need for innovation among firms and startups, and education for using various fintech technologies among Filipinos, officials said.

Speaking at online forum titled "Fintech Philippines: Fintech Space as the Thriving Ground for Upgrading Financial Services," Karl Lyndon Pacolor, chief of the Innovation and Collaboration Division of the Department of Trade and Industry (DTI), highlighted how fintech became one of the emerging sectors in the Philippines due to the growth in digital transactions during the pandemic.