Top Finance Super App cited in Fortune’s Fintech Innovators Asia 2024, CEO featured in 2024 Most Powerful Women Asia list
The Philippines makes an indelible mark on the global fintech scene, as the country’s leading finance super app GCash has been featured in two prestigious lists from global business magazine Fortune in 2024. The homegrown fintech leader was recently included in the inaugural Fintech Innovators Asia 2024 while its president and CEO Martha Sazon was cited in Fortune’s 100 Most Powerful Women Asia 2024.
The recognition highlights the success of GCash in addressing the financial needs of millions of Filipinos through groundbreaking digital tools. Moreover, these citations further elevate the Philippines’ collective win toward building an inclusive digital economy for all Filipinos.
“It feels great that the efforts of the employees of GCash and the innovation that we’ve done towards our vision of Finance for All Filipinos are being recognized,” said GCash President and CEO Martha Sazon. “These milestones would not have been possible without our partners and the Philippine government’s support in our shared mission toward financial inclusion.”
Under Siazon’s leadership, GCash has introduced fintech innovations that have not only helped individual users but have also contributed to raising the country’s financial inclusion rate from 29% in 2019 to 65% in 2022—a significant shift that reflects the integration of GCash into the lives of Filipinos
With over 90 million having tried using GCash, the app has redefined access to essential financial services such as savings, investments, loans, and insurance.
At the same time, Sazon’s leadership has been instrumental in GCash’s journey to becoming the Philippines’ first and only $5 billion unicorn. Appointed as CEO during the COVID-19 pandemic, Sazon steered the company through an extraordinary period of growth, tripling its user base and introducing features that have become lifelines for millions. For one, the GSave feature has made it possible for one in four banked Filipinos to open savings accounts easily, while GFunds has allowed users to start investing with as little as PHP 50 (~$1).
Meanwhile, through its lending arm, Fuse, GCash has disbursed over $2.7 billion in loans to 5.4 million borrowers, the majority of whom are women, individuals from lower-income brackets, and those living outside urban centers. Additionally, GInsure has expanded access to insurance by selling over 35.5 million policies, offering affordable protection for families and small businesses.
As it continues to be a pioneer of inclusive and transformative digital finance in the country and beyond, GCash is redefining how Filipinos approach their financial journey while setting a benchmark for excellence in the industry in line with its pursuit of financial inclusion.
