Technology can increase the breadth and depth of financial inclusion. It can facilitate massive efficiencies that make it possible – and even strategic – for financial service providers to serve low-income and rural clients viably. For this reason, we are optimizing the applications of technology by directing focus on sectors such as agriculture, as well as countryside development.
These sectors encounter the most difficulty in terms of access; these sectors experience the highest poverty incidence in the country. In brief, our goal by 2023, is to ensure that at least 70% of adult Filipinos will have access to formal financial services. Needless to say that digital technology can massively help our financial inclusion agenda.