90 Million People Got Bank Accounts Without Going to a Bank

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How did 90 million Filipinos get bank accounts without ever going to a bank? This is the story of how the poor beat the banks—and why it happened in the Philippines faster than anywhere else in the world.

In 2014, 70% of Filipino adults had no bank account. Banks didn't want them. Minimum balances, formal employment requirements, concentrated in cities. If you were a tricycle driver, sari-sari store owner, construction worker paid in cash—the banking system just wasn't for you.

Then GCash changed everything. From 20 million users in 2020 to 86 million by 2023. The Philippines leapfrogged traditional banking infrastructure and went straight to mobile-first digital finance—something most of the world still hasn't figured out.

This video breaks down how it happened, why it worked here, and what most foreigners completely miss when they use GCash every day without understanding the revolution they're watching.

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