Philippine FinTech Is Accelerating But Without Stronger Cybersecurity, the Risks Are Catching Up Fast

The Philippines’ FinTech landscape is expanding at an impressive pace, driven by wider digital adoption, improved financial inclusion, and growing interest from global industry players. But as more consumers and institutions rely on digital platforms, the urgency to strengthen cybersecurity has never been greater. This message was at the center of the British Chamber of Commerce Philippines’ recent Trade and Connect forum, “Revolutionizing Finance Towards a Cyber-Resilient FinTech Industry,” where experts underscored the need for tighter standards, coordinated action, and long-term resilience planning.

One of the most striking insights came from the Bangko Sentral ng Pilipinas, which noted a significant rise in bank account ownership from 12% in 2019 to 23% by 2021. This growth reflects a positive shift toward financial accessibility, but it also introduces heightened responsibility. As more people enter the digital financial ecosystem, the country’s Financial Health Index currently at 58 out of 100 must steadily improve to secure and sustain this momentum. A more financially active population simultaneously becomes a larger target for cybercriminals, which means security must evolve as rapidly as digital adoption.

Industry leaders at the forum emphasized a clear point: the Philippines must adopt consistent standards for incident response, expand intelligence-sharing efforts, and invest in upskilling the cybersecurity workforce. These steps are no longer optional. As FinTech services integrate more automation, AI-driven analytics, and real-time digital transactions, both the threats and the opportunities multiply. Preparing for the ASEAN Summit next year adds another layer of urgency, as the world’s attention will be on the country’s technological and security readiness.

There is also strong recognition of the Philippines’ growing potential as a regional hub for global cybersecurity providers. With international firms already investing in local operations, the environment is ripe for collaboration that elevates standards and strengthens national resilience. Support from organizations like the British Chamber especially in pushing forward the Cybersecurity Act and other related legislation signals to investors that the country is committed to safeguarding its digital future.

For FinTech companies and financial institutions, building true cyber resilience means moving beyond compliance checklists and into proactive, intelligence-driven security strategies. This is where trusted cybersecurity partners play a crucial role. Directpath Global Technologies (DGT) supports organizations in strengthening their foundations through Managed Threat Detection (MTD), Extended Detection and Response (XDR), Vulnerability and Penetration Testing (VAPT), SOC2 readiness, WAF, vCISO services, and Vulnerability Risk Management as a Service (VRMaaS). Backed by an advanced AI division, DGT helps tailor security and operational solutions to match the rapidly evolving digital finance landscape ensuring organizations are not just compliant, but genuinely resilient.

As the FinTech sector continues to expand, one reality becomes clear: innovation moves fast, but cyber risks move faster. The Philippines has the talent, momentum, and global support to build a secure digital financial ecosystem what’s needed now is collective commitment and decisive action before vulnerabilities turn into real-world consequences. Source: Daily Tribune