The Bangko Sentral ng Pilipinas (BSP) has launched the fourth Digital Financial Inclusion Awards (DFIA), a program that aims to highlight the efforts of microfinance institutions (MFIs) and microentrepreneurs who use digital tools to improve financial access in the Philippines.
“To us at the BSP, financial inclusion is an undertaking that requires a whole-of-nation collaboration,” said Bangko Sentral Governor Eli Remolona Jr. “Every form of support matters, whether from the private sector, NGOs, multilateral institutions, local governments, microentrepreneurs, microfinance institutions, or the media.”
The DFIA will honor MFIs that use digital innovation to deliver more inclusive, faster, and reliable services to communities that often lack access to banks and other formal financial channels. It will also recognize microentrepreneurs who use technology to improve how they run their businesses.
Winners will receive a cash prize and digital tools that can help grow their services or operations.
The program is a joint effort of BSP, Citi Foundation, and the Microfinance Council of the Philippines.