philippines financial inclusion

Jun

The sky may be the limit for Philippine digibanks

While digital banks are all too often hyped, in the Philippines’ case online lenders truly have a large market opportunity. Incumbents have limited reach and there is a large unbanked population, estimated at 47% of adults (31.5 million people) as of early 2021 by Bangko Sentral ng Pilipinas (BSP), the…

Nov

Asia Payments Research

Philippines steps up payments digitization

The Philippines is accelerating digitization of payments, both domestically and cross-border, in line with a goal of the country’s central bank (BSP) for 50% of retail payments to be cashless by 2023. One of the most important new developments in this space is the link-up between the respective real-time and…

Sep

Asia Banking Research

PayMaya wins Philippines digital bank license

Just a few months into its digital bank fast-tracking experiment, the Philippines decided to slow things down by limiting the number of digital bank licenses to seven for the next three years, effective September 1. Interest in the digibanking licenses has been strong among both digital upstarts and incumbent lenders,…

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philippines financial inclusion