Philippine Business Bank is pushing greater use of artificial intelligence, open finance and the national ID system to speed up customer onboarding, strengthen fraud prevention and broaden access to financial services.
PBB president and CEO Rolando Avante said AI and cloud-based systems could help banks improve customer experience and reach underserved communities, while open finance could create new revenue streams and partnerships.
“The future of banking is here,” Avante said at the World Financial Innovation Series Philippines 2026.
Avante, who heads the bank founded by Bilyonaryo Alfredo Yao, also backed integrating the Philippine national ID with banking services through National ID Authentication Services.
“For PBB, this means quicker onboarding for small and medium enterprises, stronger fraud prevention, and more inclusive access to financial services,” he said.
Avante said banks, regulators and fintech companies must work together to close gaps in financial access and literacy, in line with the Bangko Sentral ng Pilipinas’ National Strategy for Financial Inclusion 2022-2028.
“Identity alone isn’t enough; we must also empower our people with financial literacy,” he said.
He added that banks should pursue digital transformation and profitability while maintaining responsible lending practices, customer trust and long-term resilience.
