Digital lending led the way in download growth during the first half of 2024, surging to 25.4 million downloads and outpacing digital commerce and wallets, which recorded downloads of 13.5 million and 12.2 million, respectively.
Digido observed that financial application downloads have been steadily rising, but recent figures indicated a growing interest in digital borrowings.
In the first six months of 2024, the digital banking sector saw the fastest growth in downloads at 22.34 percent, followed by digital payments and transfers at 17.72 percent, and digital lending at 16.81 percent.
In a statement, Digido business development manager Rose Arreco attributed the rise in downloads to increased digitalization.
“The positive numbers seen in digital lending, digital wallets, and digital commerce can be attributed to growing trust in these segments and their natural synergies with one another,” Arreco said.
“As strong demand for fintech in the Philippines continues, so do Filipinos’ expectations on convenience, interoperability, and improved user experience across these applications,” she added.
