Smile API recently participated in the inaugural Business Co-creation Dojo, a significant event aimed at accelerating innovation within the financial technology sector. This initiative, organized by Rizal Commercial Banking Corporation (RCBC) and the SMBC Asia Rising Fund (SARF), provided a dynamic platform for fostering collaboration and identifying promising fintech solutions.
The event, held on March 10, 2025, at the RCBC Collaboration Hub (CollHub) within the A.T. Yuchengco Centre in Bonifacio Global City, Manila, Philippines, served as a hub for innovation, specifically focusing on the discovery and support of emerging fintech companies. The core mission was to address critical challenges within financial services, encompassing areas such as deposits, loans, loyalty programs, fraud prevention, digital payroll, and lending for micro, small, and medium enterprises (MSMEs).
The program's central objective was to identify and invest in startups developing customer-centric banking solutions through the implementation of artificial intelligence and other emerging technologies. Notably, the initiative also aimed to facilitate the growth of these startups by leveraging the extensive global network and client base of the SMBC Group.
The event drew participation from key figures and organizations within the financial industry, including representatives from RCBC, SARF, and notable individuals such as Lito Villanueva, Executive Vice President and Chief Innovations and Inclusion Officer of RCBC, and Karl Lyndon Pacolor, Assistant Director for the Bureau of Policy Research and Innovation at the Department of Trade and Industry (DTI). Investment firms like Foxmont Capital Partners and Incubate Fund were represented, along with Mayoran Rajendra, Managing Director and Head of the Asia Innovation Centre at SMBC.
Presentations were conducted by representatives from various companies, including Netbank (Gus Poston), Etaily (Alexander F.), Betterteem (Bo Discarga), Smile API (Jan Alvin Pabellon), Salmon (Pavel Fedorov), and Sprout Solutions (Patrick Gentry). These presentations showcased the diverse and innovative approaches being taken to address challenges in the financial sector.
A rigorous evaluation process was implemented for participating startups, assessing key factors such as business model viability, social impact, scalability, market trends, potential for global expansion, and alignment with SMBC’s strategic direction. This thorough evaluation ensured that only the most promising and impactful solutions were considered for investment and support.
Smile API's participation in the Business Co-creation Dojo underscores the company's unwavering commitment to enhancing financial inclusion. The company focuses on utilizing alternative credit data to improve credit decision-making processes within the financial services industry, thereby promoting greater access to financial services for individuals and businesses alike. By engaging in collaborative initiatives like this, Smile API aims to contribute to the development of a more inclusive and innovative financial ecosystem.