Lito Villanueva, Executive Vice President and Chief Innovation and Inclusion Officer of Rizal Commercial Banking Corporation (RCBC) and Founding Chairman of FinTech Alliance.PH, called on finance leaders to embrace wider adoption of API ecosystems at the World Financial Innovation Series (WFIS) 2025.
An API ecosystem refers to an interconnected network of applications, services, and interfaces that enables seamless data exchange and collaboration across platforms. This architecture empowers developers and institutions to rapidly address market gaps, enhance resilience, and unlock new opportunities for inclusive innovation.
Addressing over 600 delegates from banks, regulators, microfinance institutions, and insurers, Villanueva underscored the urgent need to invest in interconnected API ecosystems to accelerate innovation, strengthen resilience, and drive financial inclusion.
‘Banks must evolve from mere service providers to orchestrators of expansive networks that unite fintechs, telcos, regulators, retailers, and grassroots entrepreneurs,’ he stressed. ‘APIs are not the finish line, the real value lies in building ecosystems. An API is a handshake, but an ecosystem is the enduring partnership that follows.’
Villanueva urged stronger collaboration and co-investments among financial institutions, regulators, and enterprises, calling APIs ‘national assets’ that must be unlocked to deliver real financial health to millions.
WFIS 2025, themed ‘Bridging Financial Gaps for a Digitally Smart Philippines,’ comes amid the government’s renewed push for a digital-first society, reinforced by President Ferdinand Marcos Jr.’s pledge to position the Philippines as a regional innovation hub.