envisioned national financial capability survey in 2020, we hope to see evidence of progress and determine opportunities for future work in financial education. i shared the updates to give a sense of the breadth of the work that still needs to be done, the areas where multi - sectoral support is needed, and the opportunities for partnerships. consider this my call to action. consider also the rags - to - riches life stories of “ tatang ” henry sy, sr. and “ big john ” gokongwei, jr. both left legacies of multi - million business empires. but let us not overlook that both started from small incomes, used their money well, practiced prudent financial and business management, and became the moguls we know them to be. every filipino might not reach the same success, but we can try to help them, and ourselves, to achieve comfortable levels of financial health. through complementary, coordinated and collaborative financial education programs, we must aim to change the life of every filipino towards a financially healthy future. in this expo, we hope to generate concrete ideas on how you and your institutions can be financial education champions and agents of change. to end, former u. s. president harry s. truman once said, “ actions are the seed of fate. deeds grow into destiny. ” as we act together, and gather critical mass, we can altogether achieve our desired destiny – a financially healthy nation. good morning again and mabuhay 4 / 4 bis central bankers'speeches

services. for the bsp, this starts with ensuring more filipinos have access to a transaction account – in particular, an account that they can use not only to save money, but also to directly send and receive funds to and from anyone ; in other words, an account that can be used for digital payments. this is why our financial inclusion and digital payments agenda necessarily go hand - in - hand. one is both an enabler and a requisite for the other. digital payments – that is, account to account fund transfers – make accounts a valuable and practical tool for anyone, even to those who say they do not have money to save. 1 / 3 bis central bankers'speeches a transaction account makes it easy, affordable, and convenient to pay bills, to send money to family wherever they are, pay government fees, and make online purchases. we do not have to take time off our weekends and free time just to fall in line to do these transactions. all we have to do is use our mobile phones. our vision is to have more market vendors, jeepney, and tricycle drivers accepting digital payments through qr code linked to transaction accounts. this means we do not have to always bring cash with us when we go to work or the market – thereby reducing risk of theft. for the market vendors and drivers, that means they do not have to handle cash which make them less vulnerable to counterfeits aside from theft. the benefit of using transaction accounts extends to the employers. when employers pay salaries directly to the account of their workers through pesonet, it can potentially lower administrative and overhead costs, and reduce risks associated with cash distributions during paydays. as people and businesses use digital payments, they are able to build a rich digital footprint that can be used by banks, fintechs and other lenders in evaluating and granting credit. this means people can have better and wider financing options. digital payments also underpin a whole range of innovative digital services requiring the instant transfer of funds between transactors. the use and popularity of apps like airbnb, grab and lalamove are made possible because of digital payments. clients use their account - linked digital wallet or credit card to pay the service providers - the drivers and the property and food stall owner – which helps build trust and reliability in the transactions in the app. these digital payment - supported apps are not only convenient for users but also gives wider access to business opportunities and markets to our micro entrepreneurs and high