Fintech, digital banks unite to boost financial health

The country's financial technology (fintech) and digital banking industries unveiled three major initiatives aimed at improving financial health and supporting inclusive digital transformation, showcasing the sector's growing collaboration with regulators and policymakers.

- By KEISHA TA-ASAN

The Digital Bank Association of the Philippines (DiBA PH) and FintechAlliance.ph developed the measures in consultation with the Bangko Sentral ng Pilipinas (BSP).

The groups said the effort consolidates digital banks and fintech players, including e-wallets, around a unified agenda anchored in innovation, behavioral design and coordinated policy reform.

These programs build on the results of the 2nd DiBA PH Financial Health Survey, which found that the financial health index (FHI) among digital bank customers improved to 62 in 2025 from 56 in 2024. The rise reflects better control of day-to-day finances, stronger short-term resilience and gradually improving confidence in long-term planning, although gaps remain.

The first is the adoption of the 2028 Digital Finance Industry Roadmap, which lays out how digital banks and fintechs will work with the BSP to reach the "80x80 by 2028" target.

The roadmap aims to have 80 percent of Filipino adults with active accounts and 80 percent of payments made digitally in the next three years. It identifies key pillars such as open finance, interoperable credit data, cybersecurity, digital trust and responsible innovation and urges government agencies to enable reforms in regulation and infrastructure.