The Philippines’ financial industry is poised to drive a 42% annual growth in the embedded finance sector, according to a recent Fintech Alliance PH report. Embedded finance integrates financial services like payments, insurance, and loans into non-financial industries, including e-commerce, automotive, and food sectors. The Philippines Fintech Report 2024 highlights the country’s booming e-commerce market, projected to hit USD24.1bn this year after a 29% growth from 2019 to 2023. Lito Villanueva, Fintech Alliance PH founding chairman, noted that AI trends will shape the future of financial services, enhancing personalisation and security. The Philippines now hosts 335 fintech firms, with 35% focusing on payment services, 22% on lending, and smaller shares in remittances, cryptocurrencies, and insurance.