While the Philippines’ banking revenue pools are set to treble by 2030, nearly half of the country’s bankable population are considered unbanked, according to McKinsey. There are more people with mobile phones than bank accounts living in the Philippines, where poor access to formal banking systems prevails.
But as one of the fastest-growing economies in south-east Asia, with regulators looking to new players to enhance financial inclusion, the Philippines is poised for a digital banking revolution.
