Fintech, digital banks launch 3 initiatives to boost financial health

The Philippines' fintech and digital banking sectors have launched three major initiatives to enhance financial health and promote inclusive digital transformation in collaboration with regulators.

These initiatives, developed by the Digital Bank Association of the Philippines (DiBA PH) and FintechAlliance.ph with the Bangko Sentral ng Pilipinas (BSP), consolidate digital banks and fintech players under a common agenda focused on innovation, behavioral design, and policy reform.

These efforts are partly informed by the 2nd DiBA PH Financial Health Survey, which revealed an improvement in the financial health index of digital bank customers to 62 in 2025 from 56 in 2024, indicating better financial management and resilience.

A key initiative is the adoption of the 2028 Digital Finance Industry Roadmap, which outlines a strategy for digital banks and fintechs to collaborate with the BSP.

The roadmap aims to achieve the '80x80 by 2028' target, meaning 80 percent of Filipino adults will have active accounts and 80 percent of transactions will be digital within three years.

The roadmap emphasizes pillars such as open finance, interoperable credit data, cybersecurity, digital trust, and responsible innovation, while also calling for reforms in regulation and infrastructure from government agencies.