More Filipinos are using digital banks and considering them for future loans as trust in digital financial services continues to grow, according to TransUnion’s 2026 Credit Perception Index.
TransUnion, a global information and insights company and the Philippines’ first comprehensive private credit reference agency, surveyed 1,000 consumers from May 6 to 26, 2026, for the annual study.
More than half of Filipinos, or 52%, said they use a digital bank. Intent to borrow from digital banks also grew by 11 percentage points from 2025, the biggest increase among the lending options covered by the study.
By comparison, borrowing intent increased by 8 percentage points for traditional banks and 6 percentage points for credit cards. The share of consumers planning to borrow from family and friends fell by 11 percentage points to 45%, its lowest level since 2023.
The findings point to a shift toward formal financial institutions, with digital banks recording the strongest momentum.
Consumer knowledge of digital banks jumped by 15 percentage points to 80%, while favorability rose by 14 percentage points to 79%. Digital banks surpassed traditional banks in both areas, with traditional banks receiving scores of 78% for knowledge and 76% for favorability.
Filipinos also appear more comfortable with the safety of digital banks. Their perceived safety score climbed by 11 percentage points to 84%, behind only traditional banks at 88%.
The growth comes as more consumers explore digital financial services. Seventy percent of respondents said they planned to look into new digital products and financial technology services, up 6 percentage points from 2025.
“What stands out this year is that confidence in credit continued to improve even as consumers faced a more challenging economic environment,” said Peter Faulhaber, president and CEO of TransUnion Philippines. “With household budgets remaining under pressure, we might have expected consumers to become more hesitant. Instead, we’re seeing greater trust, familiarity, and willingness to engage with formal financial products. That signals a maturing credit market and creates new opportunities to expand access responsibly.”
Security, pricing, and clear information could determine whether digital banks can turn growing interest into wider adoption. Consumers identified transparency at 56%, fair or low interest rates at 53%, and strong security and fraud protection at 52% as the main factors that build trust in financial products.
One in four Filipinos also said they had difficulty finding information about credit and financial products. Among them, 60% were unsure which sources to trust, while 44% found the available information too complicated or confusing.