Press

December 11, 2023
Navigating the next frontier: The evolving landscape of digital lending in PH

As we look ahead to 2024, the financial services industry, particularly in the field of digital lending, continues its transformative journey in the midst of the digital age’s rapid expansion. According to projections, the digital lending business in the Philippines will be worth $350 billion by the end of 2023. This substantial gain can be linked to ongoing advances in financial technology, a significant increase in online transactions, and the growing importance of small and medium enterprises (SMEs) in the country.

November 29, 2023
In the Philippines, the Bangko Sentral ng Pilipinas (BSP), in collaboration with the International Finance Corporation (IFC) and the World Bank (WB), unveiled the Open Finance PH Pilot last June of this year – a monumental milestone in the establishment of an open finance ecosystem within the country.

As we look ahead to 2024, the financial services industry, particularly in the field of digital lending, continues its transformative journey in the midst of the digital age’s rapid expansion. According to projections, the digital lending business in the Philippines will be worth $350 billion by the end of 2023. This substantial gain can be linked to ongoing advances in financial technology, a significant increase in online transactions, and the growing importance of small and medium enterprises (SMEs) in the country.

The
Philippines
First Virtual
Credit Wallet!