The average person in the Philippines spends more time on the Internet than any other country in the world, with Filipinos logging over 11 hours each and every day, compared to a global average of just six. Indeed, with a total population of more than 100 million, 71% are active Internet users, and this creates the perfect environment to develop the country’s digital economy ecosystem through Financial Technology (FinTech).
In stark contrast to these notably high figures, in 2019, more than 50 million Filipinos — over half the population — remain unbanked. And, according to an official government report, just 8% of Filipino adults had an active e-money account. And with 97% of Filipinos still trading in cash in one way or another, the in-person contact this requires carries increased risks during the global pandemic.
In recent years, the largest bank in the Philippines, BDO has been collaborating closely with Huawei, to realize the bank's strategic ambition: to continue improving business efficiency and customer services through digital transformation, in order to bring inclusive finance to more Filipinos.
To meet the requirements of service expansion and secure operations, BDO Unibank (BDO) will continuously improve and upgrade their existing data and disaster recovery center to ensure that the devices in the campus and data center are up to standard and are meeting the constantly changing demands of the network. Simultaneously, Huawei will continue to provide the best service through the latest technology to help BDO Unibank achieve their digital transformation.
