BSP Gov: Digitalization to boost financial inclusion, benefit women

Jan Yumul, ABS-CBN News

Posted at Sep 06 2018 10:24 PM

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The level of financial inclusion is already higher with women than men in Philippines, but the digitalization of financial services may boost this further, according to Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr. 

Espenilla said more women will benefit from digitalization, especially homemakers.

"It provides the convenience of being able to do banking and financial services from home. Even if you're taking care of family, you'll be able to do banking," said Espenilla.

Digitalization will also boost economic growth, the central bank chief said. 

"The fact that liquidity cycles to the economy more quickly creates efficiency and productivity and that's going to help economic growth. So, in fact, studies show that economic growth rises as the economy becomes more digitalized," he added.

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