New Tractors From DAR To Boost Bohol ARBs’ Productivity

Patuloy ang suporta ng DAR sa Bohol, nakatanggap ang 115 ARBs ng bagong traktora na mag-aangat ng kanilang produktibidad sa agrikultura.

Eastern Visayas RDC Eyes Higher Chance Of Approval For 2026 Projects

Tinatarget ng Eastern Visayas RDC ang mas mataas na pondo para sa kanilang mga proyekto sa 2026, gamit ang mga handang plano.

DOST Region 8 To Conduct More ‘Big One’ Seminars

Ang DOST Region 8 ay magpapatuloy ng 'Big One' seminars upang mas mapalawak ang kaalaman ng mga tao sa Eastern Visayas ukol sa mga lindol.

Cadiz City Advocates Rooftop Farming For Food Security, Urban Greening

Sa Cadiz City, ang rooftop farming ay ginagawang pangunahing sistema upang matugunan ang kasiguraduhan sa pagkain at urban greening.

PH Online Banking Boom: Around 21 Million Pinoys To Have A Digital-Only Accounts By 2025

Digital banking is set to boom in The Philippines, with almost a third of Filipino adults expected to have an account by 2025.
By The Visayas Journal

PH Online Banking Boom: Around 21 Million Pinoys To Have A Digital-Only Accounts By 2025

0
0

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

Digital banking is set to boom in The Philippines, with almost a third of Filipino adults expected to have an account by 2025, according to new research from global financial comparison platform Finder.com.

Survey results reveal an estimated 10.2 million Filipinos, approximately 15% of the adult population, currently have a digital-only bank account, with 10.8 million more (16%) planning to open an account in the next 5 years.

Global fintech editor at Finder.com, Elizabeth Barry, says the Coronavirus pandemic will likely act as a catalyst for the digitisation of banking.

“Restricted movement means that what was once forecasted for the next five years could be squeezed into a much shorter time frame,” Barry says.

While the data suggests the Philippines has been slow on the uptake for digital banking, Barry noted the Philippines actually has one of the highest projected rates of adoption among the 13 countries included in the study.

“India is the only country that is expected to see its rate of adoption grow by more percentage points in the next five years than the Philippines, while countries like France and Ireland are expected to see slower growth”, she commented.

India is expected to see the biggest boom (21% increase), followed by Brazil, Malaysia, and the Philippines (16%).

To see the full report, including a breakdown by age, gender and region, visit www.finder.com