Photo credit: BSP

Imagine an app that could help you plan your retirement, ensuring you reach your financial goals while giving you peace of mind for the future. Well, that's exactly what Team ATRAM did when they developed Pensyon PH—a platform that’s all about securing a financially stable retirement for Filipinos. And guess what? They just won top honors at the Bangko Sentral ng Pilipinas' (BSP) "Race to the Future: The Open Finance PH Hackathon."

A Hackathon with a Purpose

The BSP, in partnership with the International Finance Corporation (IFC), hosted this hackathon to drive innovation in the financial sector. Participants were tasked with creating solutions for next-gen financial management, boosting MSME lending, and advancing digital payments. The event saw 51 teams from various financial and tech sectors, with 37 teams making it through the first round of judging. Ultimately, only a select few got to showcase their projects on Demo Day.

So, What’s Pensyon PH?

Pensyon PH is a user-friendly platform that does three key things:
1. Financial Projections:
It helps you see how close (or far) you are from reaching your retirement goals.
2. Tailored Advice: The app offers personalized advice and educational resources to guide you on your financial journey.
3. Seamless Management: It simplifies the management of Personal Equity and Retirement Accounts (PERAs), making it easier for both employees and employers.

What sets Pensyon PH apart is its use of Open Finance—a system that allows data sharing across financial institutions, with your consent, of course. This ensures that your data is secure while enabling the app to provide the most accurate and relevant advice.

Who’s Behind Pensyon PH?

The brains behind this innovative app are Bea Charmelyn T. Lambitco, Jan Franz A. Palngipang, Aaron Lemuel C. Reyes, and Alvin G. Usigan. Their hard work earned them an all-expense-paid trip to the Singapore Fintech Festival this November, where they'll get to learn from global fintech experts.

Other Notable Finalists

While Pensyon PH took the top spot, several other teams impressed the judges with their innovative solutions:

- Money PH by BPInnovators: A mobile wallet with account aggregation features.
- ACReS by BPI JoJoJoJu Inc: An alternative credit reporting system.
- Maxmin by Gxchange’s Ginnovators: An app for automated personal finance risk management.
- Mayani Smart Crop Financing: A tech-driven platform for agri-financing.
- BuxPocket by UBX: An app integrating multiple accounts for seamless payments.
- OpenNegosyante by UnionBank: A business finance dashboard with payment capabilities.
- Kredo: Credit for All Filipinos by Wirefield and the City Government of Baguio: A peer-to-peer lending platform.

Why This Matters

This hackathon wasn’t just about winning—it was about pushing the boundaries of what’s possible in financial tech. The solutions developed here are practical examples of how Open Finance can create new opportunities, making financial services more accessible and inclusive for everyone.

IFC Country Manager for the Philippines, Jean-Marc Arbogast, summed it up best: “Open Finance is best implemented in tandem with the industry, and this hackathon offers great examples of open, interoperable, and scalable applications that can address the evolving needs of Filipino consumers.”