Lito Villanueva
Executive Vice President, Chief innovation & Inclusion Officer
RIZAL COMMERCIAL BANKING CORPORATION
Lito Villanueva is the Executive Vice President and Chief Innovation and Inclusion Officer for RCBC. He is concurrently the Chief Digital Transformation Advisor for the Yuchengco Group of Companies. He led RCBC’s massive digital transformation with game-changing and award-winning inclusive finance innovations at scale recording exponential growth in gross transaction volume reaching up to four-digit year-on-year performance, and revenue compound annual growth rate (CAGR) of up to 135%. He introduced DiskarTech as the Philippines’ first muti-lingual financial inclusion super app in Taglish and Cebuano local languages offering 6.5% annual interest on digital savings. It generated over a million downloads in less than a month from its launch at the height of hard lockdown in July 2020. It was recognized as the breakout app in 2020 ranking #1 mobile finance apps in the Philippines, even beating GCash for four consecutive months. While its B2BC for mSMEs digital initiative ATM Go, the Philippines’ first community-based handheld POS ATM device and last mile payments network, has the most extensive reach covering all 82 provinces in the country with more than 1,000 partner-merchants.
With all these innovations, RCBC bagged a three-peat win as the Philippines’ Best Bank for Digital by the Asiamoney from 2020 to 2022, and a back-to-back recognition as having the Best Financial Inclusion App from the Financial Technology Awards by The Asian Banker, on top of over 70 regional and global digital awards.
Villanueva is also the founding chairman of Fintech Alliance.ph, a digital association of fintech players collectively generating over 90% of digital financial transactions in the Philippines, collaborating with policy-makers, regulators, and interest groups to promote a sustainable digital economy. He was also recently elected as the global chairman of the South Africa-based Alliance of Digital Finance Associations with membership from over 20 countries. He is also a Board director of the Blockchain Council of the Philippines.
He is the Philippines’ leading and award- winning thought leader on digital transformation and inclusive digital finance. He has over 25 years of experience in banking, telecommunications, payments, development finance, advisory, and financial technology. He has merited with over 80 global and regional awards, including being named one of the Top 100 FinTech Leaders in Asia, 2021 Chief Innovation Officer of the Year by London-based The Banker, Top 100 Filipinos on LinkedIn, Top 10 ASEAN Banking Leaders in Digital Reinvention, 2022 Global Filipino Executive of the Year Circle of Excellence, Outstanding Leadership Awardee 2022 by Money 2.0, and Mr. Fintech of the Philippines by BizNewsAsia, among others. These recognitions highlight Villanueva’s innovative digital contributions to the financial industry and impact on the country’s goal of widening bank access to Filipinos. He has a regular business column Bytes in the Philippine Star.
He released various publications including the award-winning three-volume Inclusive Digital Finance Report and the Uncharted Beyond: The Taxonomy of FinTech in the Philippines. He is also a member of the Inclusion Executive Committee of the Global Impact FinTech (GIFT) Forum. He is also the founding president of the BSP Governor Nestor A. Espenilla Jr. Institute for Growth towards National Inclusion, Transformation, and Empowerment (IGNITE).
Finished the Cambridge Intellect Leadership Programme in 2019 on Digital Transformation by Design at the University of Cambridge Judge Business School Executive Education in the UK. Earned two graduate degrees: Master of Arts in Public Administration with magna cum laude honors from the University of Santo Tomas (UST), and Master in National Security Administration from the National Defense College of the Philippines as a state scholar, and its youngest graduate thus far. His undergraduate degree is in political science and also in UST. (as of 6 Feb 2023)