Nelson Morales

GCash, Maya execs reelected to Fintech Alliance board

Article (news)

Arthur Fuentes

ABS-CBN News

MANILA — The Philippines’ premier fintech industry body has reelected the heads of the nation’s two biggest digital platforms to its leadership,  FinTech Alliance.PH said on Tuesday.In a statement, FinTech Alliance.PH confirmed that Oscar “Ren-Ren” Enrico Reyes, President and CEO of G-Xchange, Inc. (GCash), and Angelo “Gelo” Madrid, President of Maya Bank, will remain on its Board of Trustees.The move keeps the leadership of the country’s only two &quot;unicorn&quot; startups—companies valued at over $1 billion—at the heart of the industry’s regulatory and strategic discussions.The industry group said it represents over 150 corporate members, accounting for more than 95 percent of digital retail financial transactions in the Philippines. Reyes, a veteran of the telecommunications and aviation sectors, has been instrumental in scaling GCash into a household name, the group said. Madrid, a lawyer and former Citibank executive, has led Maya’s aggressive pivot into digital banking and credit.Lito Villanueva, Founding Chairman of FinTech Alliance.PH and Executive Vice President of RCBC, hailed the election as a signal of stability and shared vision.“The reelection of Ren-Ren and Gelo reflects the strength of leadership within the Philippine fintech ecosystem,” Villanueva said. “Their experience in building platforms that reach millions of Filipinos aligns with our mission to accelerate inclusive digital finance.&quot;He added that the group remains committed to working with regulators to &quot;ensure that no Filipino is left behind in the digital economy.”The Bangko Sentral ng Pilipinas has set ambitious targets to convert 50 percent of total retail payments into digital form and to onboard 70 percent of Filipino adults into the formal financial system—a goal largely carried by the platforms led by Reyes and Madrid.

The move keeps the leadership of the country’s only two "unicorn" startups—companies valued at over $1 billion—at the heart of the industry’s regulatory and strategic discussions.

The move keeps the leadership of the country’s only two "unicorn" startups—companies valued at over $1 billion—at the heart of the industry’s regulatory and strategic discussions.