SINGAPORE / MANILA, October 1, 2026 — Financial resilience remains a significant challenge in the Philippines. According to the Bangko Sentral ng Pilipinas’ 2025 Consumer Finance and Inclusion Survey, 48% of Filipino adults said raising emergency funds would be very difficult, while another 15% said they could not do it at all. Only three in ten reported that their current finances or savings would last in the event of income loss.
Against this backdrop, the Bangko Sentral ng Pilipinas (BSP) and the Global Finance & Technology Network (GFTN) today announced the ASEAN Financial Health Challenge (“Challenge”), bringing together regulators, financial institutions, fintechs and innovators to develop scalable solutions for three financial health needs: responsible credit choices, emergency savings and insurance.
The programme will run virtually from September 2026 before culminating at the Singapore FinTech Festival from 18-20th November, where winning teams will present their solutions to a global community of regulators, financial institutions, investors and technology leaders. The Singapore FinTech Festival is organised by the Monetary Authority of Singapore and GFTN, in collaboration with the Association of Banks in Singapore.
The initiative comes as financial health moves higher on the regional and global policy agenda. In April 2026, ASEAN Finance Ministers and Central Bank Governors reaffirmed the importance of strengthening ASEAN’s integration and resilience through, among other priorities, advancing inclusive and sustainable growth, deepening financial safety nets and enhancing financial cooperation. The UNSGSA defines financial health around people’s ability to manage day-to-day finances, build resilience to financial shocks, plan for the future and feel confident about their financial lives.
The Hackathon-and-accelerator hybrid is co-organised by the BSP and GFTN, with the UN Secretary-General’s Special Advocate for Financial Health (UNSGSA) serving as Thematic Thought Partner. It is further supported by three Financial Health Champions, the Digital Bank Association of the Philippines (DiBA PH). Maya, Tala and Pru Life UK contributing problem statements, mentorship, masterclasses and pilot opportunities for the winning teams.
The initiative is designed to bridge the gap between financial access and financial health, moving from policy ambition to solutions that can be tested, piloted and potentially scaled across ASEAN.
“The BSP has made financial health a cornerstone of our National Strategy for Financial Inclusion. 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.”
Bernadette Romulo-Puyat, Deputy Governor, Bangko Sentral ng Pilipinas
“Financial health is the next step towards inclusive growth across ASEAN. Countries have made significant progress in expanding access to finance; the real test now is whether financial systems are helping people become more resilient, more secure and better able to plan for their futures. Through this partnership with BSP, we want to bridge policy and innovation, moving beyond proofs of concept towards practical solutions that regulators and financial institutions can put into people’s hands and take to scale.”
Sopnendu Mohanty, Group CEO, GFTN
From Financial Access to Financial Health
Across ASEAN, expanding access to financial services has been an important policy priority. The next challenge is ensuring that access translates into greater financial resilience, security and opportunity for individuals and households.
The ASEAN Financial Health Challenge is designed to help close that gap by identifying solutions that can move beyond proof of concept towards testing, piloting and implementation.
Three Challenges, Two Tracks, One Goal
The Challenge will source solutions addressing responsible credit choices, emergency savings and insurance across two tracks.
The Technical Product track invites startups, fintechs and teams within financial institutions to develop technical solutions. Winning solutions will receive pilot opportunities directly with Financial Health Champions.
The Programme Proposal track invites programme and non-technical solutions, including public awareness campaigns, research and financial literacy initiatives. These will be evaluated by the BSP for potential piloting and implementation.
Problem statements have been developed jointly by the BSP, GFTN, UNSGSA and the Financial Health Champions. Submissions will be judged on innovation, depth of impact on financial health, sustainability and business model, traction and adoption, team capability, and scale and replicability.
From Challenge to Implementation
Applications are open until 2 October 2026. Finalists will be announced in early October and will participate in masterclasses, mentorship sessions and consultations with the BSP and Financial Health Champions.
A virtual demo day will determine the top three winning solutions, which will be presented at the 2026 Singapore FinTech Festival.
Top finalists will receive business, impact and technical mentorship, facilitated introductions to potential pilot and implementation partners across ASEAN’s banking and financial services ecosystem, and consultation with the BSP.
The top three winning teams will additionally receive a speaking opportunity at the Singapore FinTech Festival, a dedicated exhibition kiosk and invitations to closed-door networking events during festival week.
Winning solutions will move towards piloting and implementation after the Singapore FinTech Festival, creating a pathway from regional policy priority to innovation, pilot and potential scale.
How to Apply
Startups, FinTechs, cross-functional teams within financial institutions, and individuals with programme or policy proposals from across ASEAN are invited to register their interest and apply. More information, including problem statements and judging criteria, is available at https://gftn.co/asean-financial-health-challenge.
