Philippines CEO Presents Digital Financial Inclusion Model at UN Summit
What happened
Martha Sazon, CEO of Mynt, presented the Philippines’ digital financial inclusion model at the UN Global Compact Leaders Summit in New York. She highlighted that formal financial account ownership in the Philippines rose from 29% before the pandemic to 50% today.
From philstar.com
Why it matters
The presentation detailed how digital technology is helping address gaps in financial services and formal credit access in the Philippines. Sazon noted that formal borrowing penetration in the Philippines was historically low at 12%.
From philstar.com
Who's involved
- PhilippinesThe country whose digital financial inclusion experience was presented.
- New YorkThe location where the UN Global Compact Leaders Summit was held.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PhilippinesSpeculative
Financial institutions in the Philippines might see increased demand for formal credit and financial services.
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The entities involved
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New York
state of the United States of America
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Philippines
archipelagic country in Southeast Asia