Recently, the country's central banking authority announced the removal of the prohibition on establishing digital banks, marking a significant shift that opens doors for more innovation in the financial sector within the Philippines. Under the new regulations, a maximum of 10 digital banks are permitted to operate, with the aim of driving the growth of fintech and enhancing the accessibility and convenience of financial services. This move not only responds to market demands but also invigorates the fintech industry, expected to further propel the modernization of the Philippine financial sector.