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Half of Filipinos still unbanked despite digital boom – study
The Philippine Star
|August 31, 2025
Nearly half of Filipino adults remain without a formal bank account despite the country's rapid shift to digital payments and mobile wallets, according to a new study conducted by Rizal Commercial Banking Corp. (RCBC) and Mastercard.
The study titled "Inclusion by Design: Building Bridges to Financial Health" showed that 49.8 percent of Filipinos did not own a bank account in 2024, far below the global average of 79 percent. This was despite a decade of progress from only 26.6 percent of adults with accounts in 2011.
"This research came at a crucial moment for financial organizations. Amid the increasing calls for financial inclusion, this paper sheds light on the role of tech-enabled customer experience in developing relevant and impactful innovations," said Reggie Cariaso, RCBC president and CEO.
This story is from the August 31, 2025 edition of The Philippine Star.
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