FROM THE MARGINS
As we welcome the new year, I am delighted to highlight how digitalization is driving financial inclusion in the Philippines, bridging gaps in access to financial services for unbanked and underserved communities. Mobile wallets, digital banking apps, and fintech platforms have revolutionized how individuals save, transfer money, and access credit. With the country’s high mobile penetration and growing internet connectivity, digital solutions are empowering millions of Filipinos to join the formal economy, fostering economic growth and reducing inequality.
The Digital Financial Inclusion Awards (DFIA) is leading efforts to recognize and celebrate innovation in this transformative sector. Now in its third year, the DFIA honors the achievements of microfinance institutions (MFIs) and microentrepreneurs in advancing digital financial services. This collaborative effort of the Citi Foundation and the Microfinance Council of the Philippines, Inc., (MCPI) is supported by the Bangko Sentral ng Pilipinas (BSP).
Last Dec. 13, the DFIA awards ceremony recognized 16 microentrepreneurs and four MFIs that leveraged digital solutions to transform their businesses and uplift their communities. The event was graced by BSP Governor Eli Remolona, Jr., Citi Philippines Country Head Paul Avila, MCPI Chairperson Gilbert Maramba, and other officials.
The microentrepreneur digital champions represented various industries, including food production, retail, and manufacturing. They all show how digital innovation can transform traditional businesses into thriving enterprises:
- Jaydee Abraham (Tarlac) pivoted his sportswear business to produce face masks and personal protective equipment during the pandemic. He leverages e-commerce platforms and digital payments to expand locally and internationally.
- Ligaya Arculo (Negros Oriental) markets pandan leaf bags on Facebook, reaching clients in other parts of the Philippines and in Japan, using cashless payment to boost efficiency in her traditional craft business.
- Junbert Bentulan (Cebu) uses Facebook to showcase wedding gowns and interact with clients. He streamlines payments via bank transfers, GCash and the konek2CARD platform.
- Gregoria Bernabe (Cebu) grew her furniture business using Shopee, Lazada, Facebook, and Instagram, fully embracing cashless transactions.
- Helen Cedullo (Lanao del Norte) scaled her vinegar business with Facebook marketing and simplified operations through GCash and Palawan Express.
- Shanie Lou Depalubos (Negros Occidental) expanded her cake business internationally via social media and digital payment.
- Hayreen Fe Ecura (Aurora) boosted sales for her delicacies using online platforms, integrating delivery partnerships and digital payments.
- Maria Lourdes Endriga (Pangasinan) showcases acacia wood products on TikTok and Facebook, leveraging courier services and cashless payments.
- Teodoro Lamang, Jr. (Batangas) operates a cloud kitchen using delivery apps, QR payments, and social media to expand reach.
- Maria Jessica Lavarias (Pangasinan) grew her food brand with Facebook and digital payments. She now employs local delivery riders and provides scholarships to the underprivileged.
- Sunshine Genevive Molintas (Kalinga) markets coffee nationwide through Facebook, boosted posts and reseller partnerships.
- Ricardo Santos (Bulacan) expanded his candy business via Shopee, TikTok, and Facebook, using digital payment options and resellers to expand his customer base.
- Layzel Soto (South Cotabato) showcases indigenous food products on Facebook Reels, with online payments empowering both her customers and IP employees.
- Jaeme Tagle (Rizal) stands out in Taytay’s competitive garment industry by staying trendy, live-selling on Facebook and offering cashless payments.
- Renalyn Tatad (Laguna) markets banana chips on TikTok, Facebook and Shopee, driving growth with engaging content and digital transactions.
- Melanie Torres (Cebu) uses social media and seamless payment options to grow her bakery supply business.
All of the winners received ₱100,000 in cash and laptops to help grow and enhance their businesses. They are all microfinance clients. Jaydee Abraham, Hayreen Ecura, Sunshine Molintas and Ricardo Santos are members of Alalay sa Kaunlaran Microfinance Social Development, Inc., while Ligaya Arculo and Shanie Depalubos are members of the Negros Women for Tomorrow Foundation. Junbert Bentulan is a member of CARD SME Bank, as well as Lourdes Endriga and Teodoro Lamang. Gregoria Bernabe and Layzel Soto are members of CARD Inc. Helen Cedullo is a client of Serviamus Foundation, while Jessica Lavarias is a member of Tulay sa Pag-unlad, Inc. Renalyn Tatad and Melanie Torres are members of CARD Bank and CARD MRI Rizal Bank, respectively. Jaeme Tagle is a member of Ahon sa Hirap, Inc.
The DFIA also honored four MFIs for promoting digitalization: Alalay sa Kaunlaran Microfinance Social Development, Inc., Community Economic Ventures, Inc., RAFI Micro-Finance, Inc., and Tulay sa Pag-unlad, Inc.. Special citations were also given to BPI Direct BanKo, Inc. and the National Confederation of Cooperatives for their pioneering efforts in digital financial inclusion.
More than just recognizing excellence, the DFIA aims to inspire. By showcasing efforts to expand digital financial services to underserved households, the awards encourage the adoption of customer-centric solutions, technological innovation, and creative products. Ultimately, the DFIA seeks to spark a broader digitalization journey—one that drives business growth and creates livelihood opportunities for countless Filipinos.
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“[The DFIA winners’] efforts help build a future where financial inclusion is not just a buzzword, but a reality for everyone.” – BSP Governor Eli Remolona, Jr.
(Dr. Jaime Aristotle B. Alip is a poverty eradication advocate. He is the founder of the Center for Agriculture and Rural Development Mutually-Reinforcing Institutions (CARD MRI), a group of 23 organizations that provide social development services to eight million economically-disadvantaged Filipinos and insure more than 27 million nationwide.)