The Bangko Sentral ng Pilipinas (BSP) and the Global Finance & Technology Network (GFTN), supported by the UN Secretary-General’s Special Advocate for Financial Health (UNSGSA), have launched the ASEAN Financial Health Challenge, as only three in ten Filipino adults say their savings would last through a loss of income.

According to BSP’s 2025 Consumer Finance and Inclusion Survey, 48% of Filipino adults said raising emergency funds would be very difficult, and another 15% said they couldn’t do it at all.

The initiative invites regulators, financial institutions, fintechs and innovators to develop scalable solutions for three financial health needs: responsible credit choices, emergency savings and insurance.

Applicants can choose between two tracks.

The Technical Product track invites startups, fintechs and teams within financial institutions to build technical solutions, with winning entries receiving pilot opportunities directly with the Financial Health Champions.

The Programme Proposal track invites non-technical solutions, including public awareness campaigns, research and financial literacy initiatives, which BSP will evaluate for potential piloting and implementation.

A Hackathon Culminating in Singapore

The hackathon-and-accelerator hybrid runs virtually from September 2026 before culminating at the Singapore FinTech Festival from November 18-20, where winning teams will present their solutions to a global community of regulators, financial institutions, investors and technology leaders.

Maya, Tala and Pru Life UK, alongside the Digital Bank Association of the Philippines, are contributing problem statements, mentorship, masterclasses and pilot opportunities for the winning teams.

Applications are open until October 2, with finalists announced in early October. A virtual demo day will then determine the top three teams presenting at the Singapore FinTech Festival.

“The BSP has made financial health a cornerstone of our National Strategy for Financial Inclusion,” said Bernadette Romulo-Puyat, Deputy Governor of BSP.

“This Challenge promotes multisector collaboration and leverages the region’s strong innovation ecosystem to develop scalable solutions that advance financial health in the Philippines and ASEAN.”

The Challenge builds on a broader BSP-GFTN partnership first announced at the ASEAN Tech Summit in Manila in July, which also included GFTN’s Select Series coming to Manila and a five-year AI Horizon Philippines Programme.

Featured image: Edited by Fintech News Philippines based on an image by zendaia via Magnific.