1st World Fintech Festival: Philippines as Asia's next big tech hub marks digital footprint across the globe

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The Philippines is set to showcase its best financial technology (fintech) practices to an international audience and cement its global digital footprint in the five-day virtual World Fintech Festival (WFF) on December 7-11. Previously presented as Singapore Fintech Festival (SFF) in past years, this year’s WFF shall spotlight key executives and decision-makers from different Asian nations as they discuss how they pilot fintech to produce societal impacts. Global tech legends like Bill Gates, Google CEO Sundar Pichai, and Microsoft CEO Satya Nadella will broadcast their talks to WFF participants in ten free sessions through YouTube and Facebook. 

The WFF-Philippines, co-presented by leading telecommunications company Globe, is also intended to galvanize Philippine industries to accelerate their own adoption of fintech, be open to innovation, and invest in their workforce’s digital upskilling. It is designed to bring together the public and private sector to help build inclusive digital economies. 

During the virtual presser on November 18, Sopnendu Mohanty, Chief Fintech Officer of the Monetary Authority of Singapore (MAS), remarked on the readiness of the nation’s fintech industry. He said, “The Philippines is the country that I will never ignore. You have a remarkable GDP and a fairly young demographic. The true test of a company’s strength comes from a crisis---and the businesses in the Philippines have truly demonstrated this.” 

A first in the country, the WFF - Philippines is organized by GeiserMaclang Marketing Communications, Inc. (GMCI) in partnership with MAS and SingEx. It is expected to draw in the same crowds who attend the SFF, including business leaders and CEOs from 140 countries. 

Industry leaders who will headline the WFF-Philippines were present during the virtual presser: Melchor Plabasan, Director, Bangko Sentral ng Pilipinas; Martha Sazon, President and CEO of Mynt and Chairman of the EMoney Association of the Philippines Inc.; Dr. Justo Ortiz, Chairman, UnionBank of the Philippines and President of the Fintech Philippines Association; Noel Bonoan, KPMG Vice Chairman and COO; and Atty. Mark Gorriceta, Managing Partner of Gorriceta Africa Cauton & Saavedra.

WFF-Philippines Convenor and GMCI’s Co-founder Amor Maclang, who moderated the panel discussion, says the event can amplify the Philippines as a tech hub attractive to global investors. “We are championing the Philippines, following the footsteps of Singapore, as an incubator for technology and fintech. At the same time, tech is here to serve the underserved, the underbanked, and the under sheltered. Fintech has created opportunities for people on the spot,” said Maclang, citing the sari-sari stores and online entrepreneurial shops as examples of fintech’s inclusivity. 

Bangko Sentral ng Pilipinas (BSP) has also paved the way for the country to be more open when it comes to seamless and contactless payment behaviors. Its data shows a surge in the use of internet banking, mobile apps, and services like Instapay and PesoNet during the pandemic. BSP Director Melchor Plabasan revealed some initiatives, saying, “More than four million accounts were opened during the first two months of the lockdown. We recently crafted a three-year roadmap that aims to develop an efficient, safe, and secure digital-payment ecosystem. We aim to shift 50% of retail payments to online, and ensure that 70% of adult Filipinos will have access to digital accounts.”

Martha Sazon, President and CEO of Mynt, which manages the country's leading mobile wallet app GCash among its innovations, revealed one of the trends observed during the lockdown: “It is the younger generation who is most aware of their financial stability within this time. These things have pushed us to provide savings, credit, and insurance, all within GCash. To date, we have gained 26 million GCash customers, which is ten times higher than our monthly users in 2017.” 

Ms. Sazon, who is also Chairman of the EMoney Association of the Philippines, estimated that one trillion transactions will be made through GCash by the end of December. 

Meanwhile, UnionBank of the Philippines, which pioneered digital banking, was able to accommodate the large spikes of consumer demand when the clamor for online transactions soared during the first few months of the COVID-19 crisis. Dr. Justo Ortiz, UnionBank Chairman, pointed out the future of money movements: “Financial transactions, embedded in actual live transactions people do day to day, are the ultimate end game. Whatever you do, whether you buy food, take a trip—we will embed it in financial transactions across the board.” 

Auditing firm KPMG has leveraged on tech to redefine its business operations, services, and client management system. Its Vice Chairman and COO, Noel Bonoan, explained, “We assist our clients on automation, artificial intelligence, and cybersecurity. You cannot properly assist them if your organization cannot practice what you preach.” 

Atty. Mark Gorriceta, Managing Partner of law firm Gorriceta Africa Cauton & Saavedra, affirmed that speedy, accountable action holds the keys to digital transformation. He said, “We help our clients navigate and understand its intricacies. In aiming for responsible fintech, we closely work together with the BSP, the Insurance Commission, and the Securities and Exchange Commission.” 

Dr. Ortiz reiterated that in all great journeys of impact, making the difference at scale requires great effort and investment in human capital which is “the challenge of our generation. As the speed of innovation is accelerating, we need to double-time and intensify our efforts so nobody will be left behind,” he emphasized. “Learning, unlearning, and relearning will be a consistent process in our digital journey to become a robust and competitive digital society.” 

The World Fintech Festival-Philippines agenda of speakers will span the length of the five-day global program which will run from December 7-11. 

For more information and to register for the event, click here: https://www.fintechfestival.sg/register-now.

Stay Cool and Healthy as You Work, Live, and Play at Home

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With all the time being spent indoors, it’s important to keep the whole environment of the house clean and comfortably cool to enhance productivity and focus. 

Photo by cottonbro on Pexels

Given the country’s unpredictable weather, maintaining the right temperature at home is important. Here are some easy ways on how to stay comfortably cool and healthy at home:

1. Invest in a Smart Air Conditioner

Often, people do not pay attention to the temperature and direction settings of their air conditioners. This usually results in uncomfortable situations where rooms are too cold or air conditioners blow cool air directly at people. But the Samsung Digital Appliances WindFree™ Air Conditioner features a WindFree™ Cooling technology that gently disperses air through 23,000 micro air holes, eliminating the unpleasant feeling of harsh cold wind hitting the skin directly.

When there is a need for the room to be cooled down fast, one can switch to the Fast Cooling mode to cool the air 43% faster.

The Samsung WindFree™ Air Conditioner also consumes minimal power while operating in its WindFree™ Cooling mode, using up to 77% less energy, so rising electrical bills is not a worry. It also has a Triple Protector Plus technology that prevents damage from power surges and fluctuating electrical currents, without using a separate voltage stabilizer. Its anti-corrosion coating also protects the condenser and cabinet in harsh conditions.

Furthermore, the SmartThings app allows the air conditioner to be turned on and off remotely, or even sets a schedule to turn it off during the cooler parts of the day.

2. Keep the air hygienic

Maintaining a cool temperature inside the house is one thing, but breathing clean air inside the room is another. The WindFree™’s Tri-Care Filter keeps the air pure, making breathing easier and safer when staying indoors. Its three layers include a high-density filter that extracts large dust particles, fibers, and animal hairs; and a Zeolite Coating Filter that can capture fine dust, virus, bacteria, and allergens.

 

3. Set the right temperature, especially at night

Removing the guesswork in choosing the perfect settings, the WindFree™ Air Conditioner has an AI Auto Cooling function that automatically adjusts the temperature to optimize the room’s climate conditions and bring total comfort.

 

Samsung Digital Appliances WindFree™ Air Conditioner

The WindFree™ Good Sleep mode meanwhile creates the ideal temperature for sleeping without an unpleasant cold airflow. Through its temperature control with the WindFree™ Cooling feature, sleep soundly and comfortably without having to adjust the cool settings in the middle of the night.

 

4. Clean and Maintain Air Conditioners

Air conditioner maintenance and servicing are often neglected in most homes, which could pose bigger appliance troubles or even health problems in the future. Dust and even micro-organisms could accumulate in the air conditioner components, impeding proper airflow, and forcing the unit to work harder to cool the room. Therefore, it is advisable to call the Samsung Customer Service Hotline 84222111 to schedule a maintenance check to ensure that units run in tip-top condition.

In between this regular servicing, homeowners should also perform simple maintenance and cleaning of the air conditioner once every two weeks. The Samsung WindFree™ Air Conditioner comes with easily detachable filters and a removable front panel that allows for cleaning with water or a vacuum. With a 3-Step Auto Clean function, the Samsung WindFree™ Air Conditioner also ensures the purity of air in the home by preventing the growth of harmful microorganisms by eliminating the moisture within the indoor unit, thus providing the whole family a cleaner and healthier air, especially during this holiday season.

Unwrap more joy this Christmas season with Samsung’s Home for the Holiday Sale. Start your holiday shopping stress-free and choose with these flexible payment options: straight cash payment to get a discount of up to 16% off on air conditioning units, 0% interest up to 12 months installment via credit card or Home Credit/In-House Financing payment. Promo runs until January 31, 2021. 

Visit SamsungPH on Facebook and www.samsung.com/ph/offer/2020/home-holidays-sale/home-appliances/ to know more about the Holiday promo and other participating products.

 

 

 

LG Laundry Love - Libreng Laba para sa Marikina

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As the city of Marikina is still reeling from the aftermath of typhoon Ulysses’ devastation, help has been coming slowly and steadily through various government agencies, private corporations, and individual volunteers. The road to rebuilding lost homes is going to be a long one, and the residents of Marikina need all the help they can get.

As people slowly try to go back to their homes, one necessity that is often forgotten is the need for clean clothes. As it stands, all of the resident's clothes are dirty and muddy because of the floodwaters. LG Philippines, recognizing this need, mobilized a Laundry Love campaign in various places in Marikina so that victims of typhoon Ulysses can have access to clean clothes. LG set up the event in Nangka Elementary School where 392 families and 1,591 individuals were able to do their laundry for free.

LG’s Laundry Love initiative has been a recurring event which started back in 2019. It was first launched during National Women’s Month as a way to empower and challenge gender norms at home. Laundry Love events have also been launched for outreach programs and disaster response, the last one held in Batangas during Taal Volcano’s phreatic eruption.

For the next few days, LG will be visiting the various evacuation centers in Marikina in order to ensure that everyone in need can have access to Laundry Love.

 

UnionBank translates DSAI (data science and artificial intelligence) insights into a very individualized and personalized way of banking

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Union Bank of the Philippines held the 6th virtual TalkTales on November 18, discuss more how Unionbank leverages data science and artificial intelligence to deliver data-driven, convenient, and personalized banking experiences to customers.

AI a vehicle for customers to achieve aspirations – UnionBank Senior Advisor for Data and AI

Data science and artificial intelligence (or “DSAI”) are two “tandem”-technologies that are now taking over many industries across the globe. 

Artificial intelligence has brought about many exciting prospects that have ushered more personalized, “tailor-fit” digital experiences for many of us. This has made many of the things we do in our lives simpler, more instantaneous, and, thus, more convenient.

As Union Bank of the Philippines (UnionBank) is now in the next phase of its digital transformation journey, the country’s leading digital bank has continued to invest in talent, infrastructure, and other resources needed to innovate and co-create using data science and AI, which is led by global data science expert Dr. David Hardoon Ph. D., as the Bank's Senior Advisor for Data and Artificial Intelligence.

On the sixth installment of UnionBank’s exclusive “eTalk Tales” with Media, Dr. Hardoon discussed how UnionBank is translating data science and artificial intelligence insights into a very individualized way of banking, making sure that everyone is statistically significant and provided the ‘VIP’ treatment with a wide range of personalized services and solutions.

“DSAI is a key element within UnionBank’s digitize or perish journey. It is the differentiator between just “Digitize to survive” versus “Digitize to flourish,” Hardoon said.

Hardoon emphasized that AI is a must-have to enable scalable customer-centric finance of tomorrow, today. The goal is to make finance relevant, specific, and contextual to each individual consumer.  His use of AI is not artificial intelligence but ‘augmented intelligence’.  Reality is that humans are phenomenal in creativity that machines do not have. Machines may be able to replicate but it cannot originate. This, according to Hardoon, is where augmentation comes in. Data science uses insights from machines to operationalize and contextualize. “It’s not a question of ‘can we do it’ but ‘should we do it’.”

“AI is the engine of the digital renaissance.  It is a vehicle to achieve an aspiration. It is important to anchor AI on what truly matters—people, whether customers or employees. AI is truly about being human-centric first. The purpose is us, primarily as customers, and how do we leverage on the insight and knowledge that can be derived from AI to help shape financial services around us.”

Digital transformation is heralded as the game-changer for the banking sector in today's reality and for tomorrow's necessity. The transformation is rooted on the aspiration of inclusive and resilient financial services and is about achieving a reality where ones’ moments of life are not defined around the financial products available, but where financial services and products are created to support the milestones in life. 

 

“The Bank has been introducing and enhancing countless digital touchpoints for customer ease and fluidity of engagement. These touchpoints mean exactly that, that customers engage with the Bank on a more regular basis. It is our responsibility to...imagine. Imagine the ability to provide bridging or intra-day loans without a customer's need to submit hefty financial historical statements,” Hardoon said.

 

UnionBank uses AI to upgrade its existing strategy and accelerate further innovation, an example of which is its use as an additional layer of defense against financial crimes. AI enables the Bank to detect more instances while making sure that the existing defense and process will not be disrupted to ensure operation efficiency.  AI is also being leveraged by the Bank to predict future volume of inbound calls that can reduce some of the volatility in call management.  Through AI, the cash management solutions team are provided with data-driven relevant recommendations and proposals for customers.

Data Science and AI (DSAI) enables capabilities in understanding customers' needs through their various engagements with the bank and providers and the ability to go beyond a templatized approach to ascertain relevance, suitability, and affordability.  This makes UnionBank, Philippine banking’s best in the data science and AI field.

Consistent with its commitment to make banking simpler and more inclusive via best-in-class digital and mobile capabilities, UnionBank President and CEO Edwin Bautista believes that leveraging Data and AI is a key driver to the next-level of its digital transformation as the Bank continues to put the customer—both individuals and corporates, at the heart of its business.

About Dr. David Hardoon

Dr. David Hardoon is Senior Advisor for Data and AI at UnionBank of the Philippines. As part of his responsibilities, he works with various centers, groups, and units to reinforce data infrastructure and governance, behavior modelling, machine learning, and AI capabilities as well as applications in the Bank.

In addition to his responsibilities at UnionBank, Dr. Hardoon also serves as advisor for a number of other institutions on matters related to data and AI.

Tuloy Pa Rin ang Pasko: TM FunPasko Brings the Joys of Pinoy Christmas Traditions Online

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A typical Pinoy Christmas is not complete without two things: family and traditions. While this year’s celebration may be different from what we are used to, as long as the family is together, tuloy pa rin ang Pasko ng mga Pilipino. Traditions such as yearly gift-giving, caroling, and movie marathons, on the other hand, have to be done in new ways due to current limitations. 

To help keep the holiday spirit and bring families and friends together, TM is spreading GV during the Christmas season with its FunPasko celebration featuring virtual holiday events, delighters, activities, and its catchy jingle that will surely get you LSS-ed! Performed by SB19, The Juans, and Donnalyn Bartolome, it showcases the unique ways Pinoys can celebrate this year’s Christmas together even when apart with the help of TM – Samahang Pina-easy! 

Awesome surprises are in store for all Ka-TMs with the TM FunPasko celebration, from November 18 to December 31. Win exciting prizes such as 5G phones, laptops, Noche Buena packages, and PHP 50,000 cash when you join the TM FunPasko Monito Monita Raffle. To join, just text TMFUNPASKO to 8080. 

Christmas traditions are also made more fun and special for everyone! With the FunPasko Grand Pakain, TM subscribers can win free Christmas baskets and Chooks-To-Go Chicken from November 23 to December 11 and PHP 30 off on Chooks-To-Go Oven Roasted Chicken from December 16 to 20 to complete the Noche Buena table. Also leveling up the caroling experience are TM Ambassadors: SB19, The Juans, Silent Sanctuary, and Matthaios for a Christmas concert on December 15 via the TM Tambayan Facebook page. 

Families can also continue the tradition of watching the Metro Manila Film Fest (MMFF) from home, as Globe Telecom partners with MMDA to be the exclusive presenter of MMFF 2020. The partnership brings this year’s festival onto Upstream, the newest video streaming platform, to allow you to enjoy the official MMFF entries from wherever you may be. Tickets will be affordably priced and can be purchased on GMovies, the country’s largest aggregator for online cinema ticketing platform. Ka-TMs can also win free tickets during the FunPasko Monita raffle. 

“Given that this year’s Christmas celebration from what we are used to, TM is finding ways to delight Ka-TMs in the spirit of Chill be different Christmas to help make this season an enjoyable one for everyone. By bringing beloved holiday traditions online, we aim to spread the holiday cheer and bring Filipinos together despite being apart,” said KD Dizon, VP for Consumer Mobile Business, Globe Telecom, Inc. 

Be the first to greet your loved ones this holiday season and plan your virtual Christmas party ahead through Facebook. You can also organize a holiday Mobile Legends tournament with your barkada all with the newest TM FB10 and ML10. Ang 10 Pesos mo, pang-1GB na! 

Just dial *143# or text FB10/ML10 to 8080! You can also download the TM app here [http://onelink.to/tm-app] to register to these promos. 

Visit https://www.tmtambayan.ph/ and follow TM Tambayan on Facebook [https://www.facebook.com/TMtambayan/] to stay updated on the upcoming FunPasko events.