The World Financial Innovation Series (WFIS) has hosted key industry leaders from the financial technology sphere since 2021; aside from digital-native representatives, coming this August 25-26 are traditional banking heads, members from the Cybercrime Investigation and Coordinating Center (CICC), FinTech Alliance PH, Government Service Insurance System (GSIS), and the Rural Bankers Association of the Philippines.
A Background on WFIS
Historically, WFIS has hosted key decision-makers from the Philippines’ leading financial institutions that are actively seeking cutting-edge solutions. From last year’s statistics, 53% were final decision-makers; and a majority were those inside the information technology, banking, artificial intelligence, digital transformation, and digital identity domains.
WFIS sits at the bleeding-edge of innovation for the financial landscape. Its participants’ emphasis on technology-first solutions shows a trend towards digitalization, of technological sophistication. Last year, two-thirds of participants allocated upwards of 100,000 dollars to procure new solutions. 75% of participants had set timelines of 3 months for innovation-execution.
Akin to the case study of GCash, technology integration has evolved from being a mere privilege or edge towards something that is an actual necessity for all touchpoints, for all people. From the sari-sari stores that enable QR payments to the supermarkets that accept digital payments, and everywhere in between, the adoption of fintech is something Filipinos have become acquainted to—or as most would say, increasingly reliant on.
WFIS projects that the Philippines’ fintech market will grow to 4.6 billion dollars by 2033. WFIS also assessed other metrics: there are more than 80 million e-wallet accounts. Funding from Filipino fintechs just in H1 of 2025 was 166 million dollars. 36 billion dollars of the Philippine economy is digital. This is a space that is growing faster by the day. The projections imply that it will envelop more lives.
The Fintech Industry
Financial technology (Fintech) denotes facets of banking or non-banking institutions that offer services beyond the physical. These cover touch points that the consumer interacts with, and the internal controls and mechanisms that the institutions implement. Alongside these touch points, fintech companies are identified by those that are digital-first; these are services like Maya, GCash, Mynt and GoTyme, among others.
FinTech: The Bigger Landscape
Fintech, however, is not confined within the scope of GCash and its contemporaries. One can argue that it is the technology itself that defines fintech; and thus, more traditional banks that offer digital-leaning services are, themselves, covered under fintech—established banks such as BPI, Metrobank, or Landbank have rolled out digital solutions: the automation of customer services, the digitalization of bills and services, the streamlining of internal and external processes, and so on. Although traditional banks are, at the very heart, not digital-first, it has become a necessity to adopt digital innovations.
A Digital-First Expectation
This is in a country where nearly all Filipinos have internet access; where nearly all Filipinos have interacted with technology linked with social media, news, transportation, and so much more. Banking institutions have recognized this. Where there is a shift in culture (i.e. the adoption of technology), there is an expectation that a central aspect of one’s life (finance, for example) aligns with this shift. Otherwise, there would be dissonance—or worse, obsolescence—in that aspect of one’s life. This is what makes innovation necessary, especially in the banking and non-banking sphere.
WFIS 2026
Keeping this in mind, the spirit of innovation in the financial industry will be the focal point of this year’s summit. There will feature the latest technologies from exhibitors; and the hope is, through collective ideation of industry leaders, technology solution providers, and government figures, this would mature into wider-spread adoption of novel and beneficial technology. This should bring financial inclusion through smarter banking that will eventually trickle down to the quality of life for the consumer.
DOPAY is an Innovation-First Institution
Here at DOPAY, we are on a mission to bring the latest financial innovations to include Filipinos—both unbanked and otherwise. Driven by the spirit of inclusion, we continuously iterate our services to create affordable remittances for the OFW; an easy-to-use platform for cryptocurrency traders; affordable fund transfer that is borderless; and, above all, an accessible service that benefits all Filipinos.
For example, affordable remittance is enabled by blockchain technology. Through bypassing traditional SWIFT banking systems, remittances are made affordable. The sender converts fiat currency into USDC, transfers USDC to another DOPAY account, and the recipient converts the USDC back into fiat currency. What used to take days, and a large percentage of one’s salary, is now something near-instant and affordable.
Another example is the simplified crypto-trading platform that provides a detailed dashboard—via charts that are updated in close time intervals—to enable traders to make informed decisions on buying and selling.
DOPAY is now on the official list of Virtual Asset Service Providers (VASPs) by Bangko Sentral ng Pilipinas (BSP). DOPAY is an application also operating as an EMI (Electronic Money Issuer) under the regulations of Bangko Sentral ng Pilipinas.
We are cognizant that digital innovation is a constant necessity for everyone. With DOPAY, we aim for Filipinos to be able to use financial services anywhere. DOPAY is powered by blockchain technology, making previous hurdles a convenience. This means fast remittance, convenient transactions, and easy crypto trading that are all available within the DOPAY ecosystem.
To attract the traders, DOPAY is offering rewards for crypto-makers. Each maker will be rewarded with 0.3% per trade executed.
To attract influencers, DOPAY offers a Video Affiliate Program specifically for content creators looking to monetize their content. Through this program, affiliates can earn 10.00 up to 3,000.00 pesos in ETH.
And to attract users, DOPAY offers a referral program that awards referrers 70.00 pesos in ETH, and referred users 30.00 pesos in ETH.
Download the DOPAY app now and see what it can do for you.
