Fintech firm to establish tech hub in Philippines

A United Kingdom-based financial technology firm is set to establish its second Asian Global Tech Hub in the Philippines, the Department of Finance (DOF) said Wednesday.

The investment by Revolut follows a series of high-level engagements led by Finance Secretary Ralph Recto in London, Davos, and Manila. The move is part of broader efforts to position the Philippines as a growing center for technology and financial innovation in Asia.

According to the DOF, the initiative supports President Ferdinand R. Marcos Jr.’s directive to attract global investments through policy reforms aimed at making the country more competitive.

“I thank Revolut for being a wonderful partner in this endeavor. The tech hub in Manila is not just an investment, it’s a commitment to the Filipino people,” Recto said. “It will generate high-quality jobs, expand our digital capabilities, and empower Filipinos with cutting-edge financial tools. This is a clear product of our global roadshows turning investment pledges into reality.”

The Manila hub will be Revolut’s second in Asia, following its first regional center in India established in 2021. The firm already operates in several Asia-Pacific markets, including Japan, Australia, Singapore, and New Zealand.

The tech hub is expected to play a key role in digital upskilling and advancing the administration’s vision for a future-ready economy. Revolut executives cited the Philippines’ young, mobile-savvy population and growing interest in financial literacy as factors behind the expansion.

“The Philippines is a very interesting market because we can see that it’s a very young population with a lot of talent, very mobile savvy, very into learning about all things money. And Revolut is all about bringing value to the consumer so that they learn about the financial services,” said Revolut Southeast Asia CEO Raymond Ng, who visited Manila earlier this year.

The DOF said the company’s decision reflects investor confidence in the country’s economic trajectory and skilled workforce, and adds momentum to the government’s digital transformation agenda.