Inclusion’s next mile

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Every marathon runner knows this truth: the race isn’t won in the first few kilometers. It’s won mile after mile of consistent pacing, mental grit, strategic breaks and a relentless eye on the finish line.

Even when your muscles fatigue, your lungs burn and you feel like you can’t go on any longer, there’s a fire burning within that tells you not to stop until you see the end.

Financial inclusion in the Philippines feels the same way.

There was a time when simply getting Filipinos into the financial system by opening a savings account was the goal. Today, the marker has shifted.

It’s no longer just access. It’s widespread growth and meaningful engagement. It’s not enough that people just have accounts. Filipinos must use them purposefully and regularly. And like a long-distance race, real inclusion requires endurance, innovation and strategic pacing.

At this point in the journey, we’re past the starting mark but still with miles to go.

The Philippines has made significant progress, but gaps remain. According to the 2025 Global Findex report, about 50.2 percent of adult Filipinos had financial accounts by the end of 2024. This is up significantly from just 26.6 percent in 2011, but still well below the East Asia and Pacific average of 83.3 percent.

By specific account types, 34 percent held formal bank accounts, 33 percent used digitally enabled accounts accessed through cards or phones, and 29 percent had mobile money accounts.

This half-and-half picture tells the story of a country at a crossroads: half included, half left behind.

Mobile connectivity, however, presents a more promising picture. Recent reports reveal that 78 percent of Filipino adults owned a personal mobile phone, and 69 percent had a smartphone. This is solid infrastructure for digital delivery.

Yet, despite connectivity, the behavioral adoption of digital financial services isn’t automatic. Yes, devices exist. Connectivity exists. But consistent, confident financial engagement is still a work in progress. The real game now is engagement over access.

A study co-authored by RCBC and Mastercard, Inclusion by Design: Building Bridges to Financial Health, reinforces this reality. Filipinos overwhelmingly own mobile phones, yet nearly half still prefer cash and cite security concerns, from scams to failed transfers, as key barriers to wallet and online adoption.

This isn’t just an adoption gap. It’s a trust gap.

Securing familiarity, confidence, and real usage turns passive account holders into financially resilient citizens, and that’s where inclusion starts to stick. Digital banking usage, savings behavior, and transaction sophistication become the finish line markers we actually should care about.

In that race, some parts of the ecosystem are picking up pace.

According to the 2nd Digital Banks of the Philippines Association Financial Health Survey, the financial health index among digital bank customers improved from 56 in 2024 to 62 in 2025, providing stronger day-to-day money management and long-term planning confidence.

Philippine fintech and digital banks have also rallied around the 80×80 by 2028 vision presented at last year’s Manila Tech Summit, aiming for 80 percent of adults with active accounts and 80 percent of payments made digitally by the end of 2028.

These targets are the major signposts for inclusion’s next mile.

In this complex landscape, RCBC’s ATM Go initiative illustrates how inclusion should look in practice: moving banking into the daily paths of Filipinos, rather than expecting Filipinos to come to the bank. This is at the heart of community-driven agency banking.

By embedding ATM Go terminals into trusted, community-based money service businesses (MSBs), places where people live, work, and transact, we are effectively expanding its branch footprint without walls. This human-centered approach brings key services closer to underserved and rural communities alike.

Here’s what this means on the ground: cash deposits and withdrawals without long travel, sending and receiving funds nationwide with speed and convenience, non-RCBC clients accessing formal banking touchpoints nearby, and everyday financial moments like remittances and savings becoming moments of inclusion.

It all comes down to building ecosystems that meet Filipinos where they are, proving that inclusion is not a distant ideal, but a practical presence in everyday life.

I’ve seen that this kind of embedded access matters, especially as it bridges the gap between having an account and using it in ways that build economic resilience and opportunity.

And as we head into 2026, the challenge becomes clear: not just connecting people to accounts, but keeping them engaged, confident, and growing financially.

In practical terms, this means:

Trust-first digital experiences. Design that speaks native languages, embraces local context, and minimizes fraud anxiety; the very features highlighted in the Mastercard-RCBC financial health research.

Greater interoperability and behavioral nudges. Products that meet users where they are, encourage regular use, and integrate with daily life.

Policy and infrastructure alignment. Collaborations under the 80×80 roadmap, open finance frameworks, and coordinated public-private efforts will help keep digital rails safe, reliable, and inclusive.

Dignified inclusion. Inclusion that respects personal context, reduces friction, and builds confidence beyond simple onboarding.

These are what drive loyalty, retention, and resilience.

Inclusion isn’t binary. You don’t flip a switch and suddenly become included.

You run the miles, building confidence, skills and habitual use along the way.?We may be running on tired legs, but unlike a single sprint, this marathon toward deep, meaningful, sustainable inclusion rewards consistency over speed.?The finish line isn’t a number on a report. It’s a nation where financial tools are used confidently, regularly and purposefully.

We are approaching that next mile. The horizons of inclusion are within sight. Slow and steady wins the race.

And although the last mile is the most crucial, we are ready to cross it. Paced, persistent and purposeful with every step.

Lito Villanueva is the Philippines’ leading thought leader in inclusive digital finance. As EVP and chief innovation and inclusion officer of RCBC, he has driven large-scale digital initiatives that advanced financial inclusion.