There’s a story told by the World Bank that in 2009 more people in the Philippines had a mobile phone than a bank account – despite there still being some 450 rural banks alone in the country. Today, that story might be apocryphal and it also doesn’t mean Filipinos don’t have incredibly complex financial lives as GCash, employer loans, remittances, cash, and QR payments might all be used for income within a single family. 

Netbank cofounder and Philippines banking and fintech investor Gus Poston says organising and simplifying the complicated patchwork of Filipinos’ financial realities is one of the biggest fintech opportunities in the country. 

Produced by Rachel Williamson and Charis Palmer, with sound engineering by Kevin Hirshorn. Music credits to Raz Burg and BalloonPlanet.