How APIs Are Changing the Face of Banking in the Philippines?

The banking industry in the Philippines is changing fast—and APIs (Application Programming Interfaces) are at the heart of it. In a recent article featured at WFIS 2024, Mr. Ashish Khanna, Chief of Staff and Head of Global Marketing at Nucleus Software, explains how APIs are helping banks become faster, smarter, and more accessible to everyone.

With over 70% of banks in the country adopting APIs, financial institutions are now able to offer real-time services like instant loans, mobile banking, and personalized financial tools—all without needing to rebuild their systems from scratch.

What does this mean for customers?

• Faster services like instant approvals and real-time transactions.
• Easier access to banking in remote or rural areas.
• Better digital experiences through mobile and online apps.
• More secure platforms with advanced protection, like biometrics.

At Nucleus Software, our platforms – FinnOne Neo® and FinnAxia® – come with over 540 ready-to-use APIs. These help banks roll out digital services quickly and securely while giving customers the smooth, modern experiences they expect.

Why it matters for the Philippines?

Nearly half of the population in the Philippines is still unbanked. That means millions of people don’t have access to even basic financial services. APIs are helping change that by making it easier for banks to open accounts, process transactions, and connect with people who’ve been left out of traditional banking.

Thanks to new government rules and mobile-first solutions, people can now open a bank account with just an ID and a selfie—or even with just their mobile number. APIs make all of this possible.

Nucleus Software: Supporting the Next Generation of Banking

Nucleus Software delivers disruptive Fintech Solutions to 200+ Banks and Financial Institutions across 50 Countries supporting Retail Lending, Corporate & SME Finance, Islamic Finance, Automotive Finance, Captive Automotive Finance, Cash Management, Mobile & Internet Banking, Transaction Banking and more.

Our solutions manage over $15 trillion value of yearly transactions, with over 26 million transactions each day through our globally integrated transaction banking platform. Our lending platform manages $1.2 trillion+ value of loans globally, while enabling 500,000+ users to log in daily.

We’re not just keeping up with change—we’re helping shape it.

If you’re a bank in the Philippines looking to grow, serve more people, and stay ahead in the digital age, our API-powered platforms are built to help you do just that.