Episode 25: Untangling Filipinos’ complicated financial lives 

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. 

About the Author
Rachel is a science and business journalist from New Zealand, writing and podcasting about technology, banking and climate change. As a foreign correspondent, her career has spanned the Middle East, South Asia and the Horn of Africa. Rachel has interviewed Silicon Valley entrepreneurs, politicians and Egyptian revolutionaries, Middle Eastern billionaires, Australian business leaders and former Philippines President Gloria Macapagal Arroyo. She is the Host of Breaking Banks Asia and Co-founder of Soundcraft Media.