Filipinos spent a combined 1.54 billion seconds — or around 49 years — using non-bank digital lending apps in 2024, according to a new analysis by Digido.
The study, which covered 47 registered digital lending platforms including Digido, found that 76.4 percent of usage was driven by personal loan apps.
“Despite fintech saturation, digital-first lenders continue to grow, with personal loans driving this trend due to their accessibility and flexibility,” said Digido business development manager Rose Arreco.
‘Buy now, pay later’ services accounted for 21.4 percent, while installment loans made up the remaining 2.2 percent.
Total app activity rose by 16 percent compared to 2023, and on average, users spent 12 minutes and 14 seconds per month on lending apps, with each session lasting about 58 seconds.
