FINANCIAL resiliency is just one of the aspects for which society has to continually strive. It is more than just about building wealth but also about innovation, flexibility, perseverance and expecting the unexpected as well.
The Philippines is one of those at the top of the list when it comes to climate-related risks, financial risks given its dependencies, and medical and health-related risks. Yet, the country is able to successfully navigate through typhoons, the Asian financial crisis and Covid-19.
Hence, there is no better inspiration for the Philippines when it comes to personal financial resiliency than the macro-level resiliency of its economy. But what do Filipinos have in common? What is it that the Philippines does right? Or, perhaps, a better question is, what else can the Philippines do?
The Philippines has many cities with dynamic and independent economies. It is adaptive and flexible. These cities cooperate; they communicate. Believe it or not, Filipinos innovate and think outside of the box. And lastly, but definitely not the least, they know that challenges a normal part of life. It’s probably what keeps them going with much energy and sometimes even excitement, knowing that they will resolve whatever issues that come their way.
Financing companies such as Global Dominion have been born amid a crisis due to high lending and financing demand from consumers. Talk about the financial crises and the many challenges with conflicts in different countries faced by overseas Filipino workers, not far from the situations now.
Global Dominion has pursued lending to Filipinos through those tough years. The financing company is said to be one of the first to resume its operations amid the most recent pandemic, as it understands that during such difficult times, funding is critical for businesses to mobilize the economy.
“We went face-to-face with alcohol and face shield — remember that phase — just to talk to our customers, ask them how they were doing and simultaneously assess their readiness to restart,” shares Patricia Poco-Palacios, Global Dominion president and managing director.
Poco-Palacios has delivered a speech during the recently concluded National Finance Congress (NFC), organized by De La Salle University’s Management of Financial Institutions Association (DLSU-MaFIA) in relation to financial resiliency, the heart of the event.
Palacios says, at an individual level, one can show dynamism and diversity by exploring and testing various finance instruments and embracing new technology to realize that the new ways of doing things can be more effective for Filipinos.
Making necessary provisions for uncontrollable events and moving forward by supporting policy-creating bodies to help shape the future of the Philippine finance and the economy can help Filipinos become more financially resilient.
Rhaybien de San Jose, project head for Corporate Relations and External Relations of NFC, thanks Global Dominion for its contribution to the event, and for imparting knowledge to the students and other members of the academe about financial competence and resilience.
“GDFI’s insights on adaptive financial practices and their commitment to fostering resilience have equipped us with the tools to better navigate the complexities of the financial landscape, especially during crisis,” says De San Jose.
Palacios says: “In a world filled with uncertainties, where economic tides can shift unpredictably, the ability to weather financial storms is not just advantageous but essential. To achieve true financial resiliency, we must start with a foundation of knowledge and understanding. We must educate ourselves about financial management, budgeting and investing wisely.”
“Financial resiliency isn’t merely about accumulating wealth; it’s about building robustness and adaptability in our financial lives. It’s about preparing ourselves to withstand unexpected challenges and emerge stronger on the other side,” she adds, closing her speech at the NFC.
MaFIA is the duly recognized professional organization of DLSU that caters to the Management of Financial Institutions majors. The organization believes in nurturing the talents of its members by opening opportunities that will develop the best version of themselves through personal development, academic excellence, social awareness and leadership.
Global Dominion has been in the lending and financing industry since 2003, offering vehicle mortgage loans (Sangla OR/CR), car and truck financing, doctors’ loan, real estate mortgage loan and real estate financing. Its purpose is to ignite and accelerate growth of people and organizations to transform lives for the better.
Visit gdfi.com.ph to know more about Global Dominion.
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