Digital banking boom boosts Filipinos’ trust on credit, financial products

MANILA – Consumer perception of credit across the Philippines reached an all-time high in 2026, driven by gains in Mindanao and widespread adoption of digital financial tools, according to a report by credit reference agency TransUnion.

The national Credit Perception Index (CPI) rose two points to 75 out of 100, its highest score since the annual study launched in 2023. 

CPI examines Filipinos’ knowledge, trust, and favorability toward credit and other financial products, including the factors that influence their attitudes, behaviors and financial decisions, with the goal of supporting broader financial inclusion in the Philippines, TransUnion said..

Scores held steady or improved across all three major island groups, indicating nationwide momentum rather than progress concentrated around the capital.

Mindanao posted the largest improvement, climbing three points to 77 due to strong gains in financial product knowledge and trust. Luzon rose one point to 74, while Visayas held stable at 75.

While elevated living costs led over 85 percent of respondents across all regions to prioritize saving, intent to use credit diverged significantly. In Mindanao, 54 percent of consumers planned to borrow or use credit in the coming three months, compared to 42 percent in Visayas and 40 percent in Luzon.

Financial technology usage remained near-universal, spanning 92 percent in Luzon to 96 percent in Visayas. Regional preferences varied, with Visayas leading in eWallet adoption at 85 percent and Mindanao recording the highest digital bank usage at 57 percent.

“Every island group held or improved its score, which tells us that consumer confidence and knowledge in credit is building broadly,” said Peter Faulhaber, president and chief executive of TransUnion Philippines.

The study surveyed 1,000 consumers nationwide between May 6 and May 26, 2026.