Philippine fintech startups and old players jockey for digital banking

RCBC boasts 5m downloads of AI-backed financial app

20231208N apps

Companies like Rizal Commercial Banking and GoTyme Bank are vying for the Philippines' digital banking market. (Photo by Yuichi Shiga)

YUICHI SHIGA, Nikkei staff writer

MANILA -- Traditional lenders and fintech startups in the Philippines are competing for a foothold in the emerging digital banking industry propelled by the spread of smartphones.

Leading bank Rizal Commercial Banking Corp. (RCBC) prides itself on being "the most digital bank" in the Philippines that offers a wide range of digital financial services, President and CEO Eugene Acevedo told Nikkei in an interview.

Sponsored Content

About Sponsored ContentThis content was commissioned by Nikkei's Global Business Bureau.