Financial inclusion in the Philippines is improving, with more Filipinos opening financial accounts and gaining a better understanding of basic money concepts, according to the latest data from the Bangko Sentral ng Pilipinas (BSP).
The BSP’s latest survey found that 58% of Filipino adults owned a financial account in the first quarter of 2026, up from 48% a year earlier. Financial literacy also improved, with 74% of Filipinos correctly identifying core financial concepts, compared with 69% in 2021.
The figures suggest that more Filipinos are entering the formal financial system. However, experts say opening an account is only the first step. Long-term financial security depends on how people use financial services to save money, borrow responsibly, and prepare for emergencies.
A study by The Boston Consulting Group found that financial security remains one of the biggest goals of Filipinos, as it reduces financial stress and supports family well-being and better health.
Tala, an AI-native financial platform connecting capital to the global majority, said access to financial services should go beyond providing loans.
Through its Grow with Tala program, customers can see how their available credit may increase after making on-time repayments. The platform also follows its Debt with Dignity approach, which aims to treat borrowers with respect while encouraging responsible repayment and helping them participate in the formal economy.
To improve financial literacy, Tala also produces TALAkayan, an online video series that explains basic financial concepts in simple language.
The company cited findings from a 2025 global study by 60 Decibels showing that 91% of Tala customers reported improvements in their overall quality of life. Respondents said they became better at managing money, experienced less financial stress, and were more prepared for financial emergencies.
One customer, Melanie, said Tala helped her rebuild after losing her job, giving birth, and caring for a baby diagnosed with pneumonia in 2022.
“It felt like a nightmare. I lost my job then I gave birth and my baby was diagnosed with pneumonia. That’s when everything started to spiral and we fell deeper into debt,” she said.
As her credit limit increased, Melanie said she became more confident in managing her household finances.
“To anyone who has gone through what I experienced, don’t lose hope and just keep holding on.”
“Stories like Melanie’s reflect how the journey to financial security is not a one-way street,” said Moritz Gastl, general manager, Tala Philippines. At Tala, our infrastructure is built to level the playing field for our customers so they can unlock more opportunities to improve their financial well-being.”
For the Philippines, where millions of adults remain underserved by traditional financial institutions, wider access to financial services combined with better financial education could help more households build resilience against unexpected expenses and achieve long-term financial stability.