In a landmark move marking significant progress in fostering closer ties with regional neighbors within the digital landscape, Digital Pilipinas, the largest private-sector movement for tech-powered transformation, has signed a Memorandum of Understanding (MOU) with Asosiasi FinTech Indonesia (AFTECH), a major finech association in the country last November 23, 2023 in Jakarta, Indonesia. This strategic partnership signals a new era of collaboration and knowledge exchange, paving the way for deeper integration between the Philippines and Indonesia’s fintech ecosystems.
The MOU was signed during a recent ceremony in Jakarta, Indonesia, witnessed by industry leaders and dignitaries from both nations. The agreement with AFTECH, the umbrella organization for Indonesian fintech companies, aims to establish a framework for joint initiatives that will propel innovation and foster the growth of both countries’ fintech sectors. This includes knowledge sharing through workshops, conferences, and exchange programs, as well as exploring potential investments and partnerships between Filipino and Indonesian fintech startups.
AFTECH, established in 2016, has emerged as a driving force behind Indonesia’s rapidly evolving fintech landscape. The association boasts over 200 member companies representing a diverse range of fintech solutions, from payments and lending to wealth management and crowdfunding. AFTECH’s dedication to promoting innovation and collaboration has been instrumental in propelling Indonesia to become one of the world’s fastest-growing fintech markets.
Digital Pilipinas, spearheaded by convenor Amor Maclang, has established itself as a powerful catalyst for digital transformation in the Philippines. The organization’s flagship initiative, the Digital Pilipinas Festival 2023, served as a platform for showcasing the country’s potential and attracting global investments. Digital Pilipinas’ commitment to building a thriving digital ecosystem, coupled with its focus on fostering regional collaboration, makes it an ideal partner for AFTECH.
This MOU represents a significant step forward in strengthening the Philippines’ and Indonesia’s digital economies. By harnessing the collective expertise and resources of all parties involved, this partnership holds immense potential to unlock new opportunities for collaboration, driving innovation, and creating a more inclusive and prosperous digital future for both nations. As Emily Pang, Executive at Apryse, aptly noted, these agreements serve as a “Digital bridgeway into ASEAN and the World,” paving the way for a more interconnected and collaborative digital landscape across Southeast Asia.
The road ahead promises exciting possibilities as Digital Pilipinas, and AFTECH join forces to shape the future of fintech in the region. This strategic alliance offers a glimpse into a future where innovation knows no borders, and the shared pursuit of progress transcends geographical boundaries