In its latest industry report, global consulting firm Roland Berger said nearly 20 percent of all physical bank branches - or about 11,000 in total - in Indonesia, Thailand, the Philippines and Malaysia are set to close by 2030. Of these 11,000 branches expected to close, nearly 1,500 of them will be in the Philippines.

A welcome development, thanks to artificial intelligence (AI), traditional or incumbent banks are increasingly able to digitize operations. With the help of AI, most of the usual services being offered at physical bank branches could now be done easier and quicker online.

Premium + Digital Edition

Ad-free access


P 80 per month
(billed annually at P 960)
  • Unlimited ad-free access to website articles
  • Limited offer: Subscribe today and get digital edition access for free (accessible with up to 3 devices)

TRY FREE FOR 14 DAYS
See details
See details