Filipinos using digital banks are showing significant improvements in financial health, according to the latest Financial Health Survey by the Digital Bank Association of the Philippines (DiBA PH). The 2nd annual report, released Wednesday, found that customers of the country’s six licensed digital banks — including Maya, GoTyme, UNO Digital Bank, and UnionDigital Bank — are managing their finances more confidently and consistently.

The National Financial Health Index (FHI) among digital bank customers rose from 56 in 2024 to 62 in 2025, placing the average Filipino in the “Good” range of financial health. The share of respondents with “Bad/Very Low” scores dropped sharply from 33% to 17%, while those in the “Good–Great” range surged from 26% to 63%. The study notes that more Filipinos now feel capable of saving and making informed financial decisions earlier in their journeys, though challenges remain in maintaining long-term financial discipline.

Despite more users reporting emergency savings — 73% now have some — most can only cover up to one month of expenses, underscoring continued vulnerability to financial shocks. Still, more respondents are setting savings goals and planning for long-term financial freedom, marking a gradual shift from short-term survival to strategic planning.

“These results confirm that financial inclusion is starting to translate into measurable financial health,” said Angelo Madrid, President of DiBA PH and Maya Bank. “What matters now is how we sustain this momentum — by turning insights into product design, regulation, and shared accountability. Financial health must become a long-term commitment for both industry and policymakers.”

DiBA PH Vice President and GoTyme Bank CEO Nate Clarke emphasized that behavior plays a key role. “Digital banks have a unique opportunity to support healthier habits through design — small prompts, automated savings, and practical tools that help people stay on track. Financial health improves when capability, confidence, and behavior reinforce one another.”

Bangko Sentral ng Pilipinas Governor Eli Remolona Jr. also underscored the BSP’s shift from focusing solely on inclusion to improving overall financial wellness. “It was not enough to just do financial inclusion. We had to do something with financial health as well. With what we call behavioral economics strategies, we think we will succeed,” he said.

Among the key behavioral product innovations cited were GoTyme Bank’s automated savings tools, Maya Bank’s goal-based missions and AI-powered “Action Cards”, and UnionBank’s advocacy for financial literacy through personalized prompts regarding budgeting habits.

Since going live in 2022, the country’s six digital banks have rapidly outpaced traditional institutions. As of June 2025, they collectively serve around 20 million customers, up 120% year-on-year. Deposit balances grew 34%, compared to 6% for the broader banking sector, while loan portfolios reached P175 billion in total disbursements and P45 billion in active loans — solidifying digital banks’ role as both access enablers and behavioral catalysts for better money management.