Despite initial setbacks, the Fintech user base in the Philippines has increased from 1.7 million in 2016 to a staggering 54.1 million in 2021. It is safe to say that the Filipino startup ecosystem is thriving.

Yet, the following numbers serve as an eye-opener:

• Around 66% of the Filipino population is underbanked
• 40% of the country’s population does not have internet access

How can 8×8 help?

8×8 APIs can aid Fintechs bridge the gap between the unbanked population and routine financial services, allowing them to reach the marginalised and rural communities in remote areas with SMS.

Unleash the power of SMS

SMS enjoys an unrivalled open rate of around 98% opening the doors for Fintech companies to reach wider audiences across the country’s islands with poor internet connectivity. It is the best way to reach the country’s 9.5 million elderly population who are accustomed to SMS.

Use 8×8 SMS APIs to boost engagement and win customers.