VIA GRAPHIC PLUS | Manila, Philippines (August 19, 2026) – TransUnion, a global information and insights company and the Philippines’ first comprehensive private credit reference agency, today released its fourth annual Credit Perception Index (CPI).

The Philippines’ 2026 CPI score rose to 75 out of 100, the highest level recorded since the study was launched. The increase was mainly driven by improvements across three score factors: favorability (+4 points), product trust (+3 points) and product knowledge (+3 points). 

Introduced in 2023, the CPI examines how Filipinos perceive and engage with credit, including the factors that influence their attitudes, behaviors and financial decisions, with the goal of supporting broader financial inclusion in the Philippines. 

Beyond the record-high CPI score, the study found that financial confidence softened amid inflation and cost-of-living concerns, even as consumers took proactive steps to strengthen their financial wellbeing. The findings also point to growing momentum for digital banks, shifting borrowing preferences toward formal financial institutions and clear factors that influence consumer trust. 

“What stands out this year is that confidence in credit continued to improve even as consumers faced a more challenging economic environment,” said Peter Faulhaber, President and CEO of TransUnion Philippines. “With household budgets remaining under pressure, we might have expected consumers to become more hesitant. Instead, we’re seeing greater trust, familiarity and willingness to engage with formal financial products. That signals a maturing credit market and creates new opportunities to expand access responsibly.”  

This growing engagement was reflected in continued increases in financial product adoption. eWallets remained the most widely held product at 80%, up four percentage points [pp] from 2025, while buy now, pay later (BNPL) services recorded the strongest growth in adoption (+8 pp), reaching 26%. Credit card ownership also increased to 38% (+7 pp), with personal loan adoption reaching 26% (+1 pp). 

Financial Confidence Softens, but Consumers Remain Proactive 

While attitudes toward credit improved, Filipinos remained cautious about their broader financial outlook. Expectations of financial improvement fell to their lowest levels since 2023, with 64% of consumers expecting their financial situation to improve over the next three months and 73% over the next year, both down three percentage points from 2025. Inflation, rising living costs and energy prices remained the leading concerns affecting future financial wellbeing.

Future Financial Outlook in the Next 3 and 12 Months 

In response to these pressures, Filipinos continued to take proactive steps to strengthen their financial wellbeing. Saving remained the most common planned action (86%, +2 pp), while more consumers also intended to access educational materials (73%, +5 pp), explore new digital products and financial technology (FinTech) services (70%, +6 pp), and use a broader range of financial products and solutions (66%, +6 pp). More than two in five (43%, +5 pp) also said they intended to borrow or use credit for purchases in the near future, continuing an upward trend observed since 2023. 

“The survey reveals a shift toward more intentional financial decision-making among Filipinos,” Faulhaber noted. “While consumers are more cautious about their financial outlook, they are continuing to save, seek financial education and explore new financial products. These behaviors demonstrate how consumers are proactively adapting to ongoing cost pressures.” 

Digital Banks Gain Momentum and Borrowing Preferences Continue to Shift 

Credit continues to play an important role in helping Filipinos address everyday financial needs. Emergency expenses (59%), personal expenses (50%) and family expenses (45%) emerged as the most common reasons consumers used credit products and services. 

At the same time, borrowing preferences continued to shift toward formal financial institutions. 

Future borrowing intent increased most for digital banks (+11 pp), followed by traditional banks (+8 pp) and credit cards (+6 pp), while intent to borrow from family and friends declined by 11 percentage points to 45%, reaching its lowest level since 2023. 

The growing preference for digital banks appears to be supported by rising consumer familiarity and confidence. More than half of Filipinos (52%) reported using a digital bank. Digital banks also recorded the strongest gains in consumer perceptions, with knowledge increasing 15 percentage points to 80% and favorability rising 14 points to 79%, surpassing traditional banks on both measures (at 78% and 76%, respectively). Perceived safety of digital banks also climbed 11 points to 84%, second only to traditional banks at 88%. 

Education is Key to Further Credit Adoption 

Looking ahead, sustaining positive credit perceptions and supporting further adoption in the Philippines will require continued effort to build consumer knowledge and trust. Amid ongoing public and private initiatives to promote financial education, Filipinos reported that access to clear information still remains a challenge. One in four Filipinos (25%) reported difficulty finding materials related to credit and financial products. Among them, uncertainty about which sources to trust (60%) and information that was too complex or confusing (44%) were the most commonly cited barriers. 

The study also revealed the factors most likely to strengthen trust in financial products and services. Transparency (56%), fair or low interest rates (53%), and strong security and fraud protection (52%) emerged as the leading trust drivers among Filipino consumers. 

“Our Credit Perception Index underscores an important reality: consumers are increasingly seeking access to formal and digital financial services, but broader financial inclusion requires a coordinated effort to provide clear product information, strengthen financial education and safeguard consumer protection,” said Faulhaber.  

“At its core, financial inclusion begins with information inclusion. Through responsible data sharing, we can help more consumers access the formal financial system and enable lenders to make better-informed decisions, paving the way for a more inclusive and financially resilient Philippines.” 

In the Philippines, TransUnion advances financial inclusion through collaborations with financial institutions, regulators and wider industry stakeholders. The company helps lenders assess consumers with limited credit histories using alternative data and promotes industry-wide fraud prevention exchange through the Fraud Industry Council, launched in 2024. It also partners with the Bangko Sentral ng Pilipinas (BSP) and the industry to advance credit education and financial literacy. 

TransUnion’s Credit Perception Index (CPI) is an annual study conducted exclusively in the Philippines that tracks how Filipinos perceive and engage with credit, the drivers and barriers influencing their behavior, and the implications for the broader financial ecosystem. The 2026 study surveyed 1,000 consumers from May 6-26, 2026, to assess Filipinos’ current attitudes and future openness to credit, examining their knowledge, trust and favorability toward credit and other financial products.  

For more information and insights, please view the full report of the TransUnion Credit Perception Index.