MANILA— The Philippine Deposit Insurance Corporation (PDIC) said the country’s financial safety net must evolve alongside the rapid movement of money, information and depositor decisions in the digital financial environment.

Speaking at the World Financial Innovation Summit Philippines 2026 at the Manila Marriott, PDIC General Counsel Ma. Antonette Brillantes-Bolivar said digital banking, fintech services and instant payment systems have changed how depositors access information, make financial decisions and transfer funds.

“When money can move almost instantly, our capacity to protect confidence must evolve with it,” Brillantes-Bolivar shared.

She said depositors can now transfer funds with only a few taps, while financial information and misinformation can reach large audiences within minutes. This, she added, presents new challenges for deposit insurers, particularly during periods of uncertainty.

Brillantes-Bolivar cited the 2023 collapse of Silicon Valley Bank in the United States, when depositors sought to withdraw $42 billion in one day, as an example of how a bank run can unfold at digital speed.

She stressed, however, that the episode had several underlying causes and should not be attributed solely to digital banking or social media.

To keep the financial safety net ahead of emerging risks, the PDIC is focusing on three areas: earlier risk detection, faster action and improved communication.

The Corporation is expanding its use of data analytics and artificial intelligence, as well as information-sharing among financial safety-net institutions, to detect emerging risks and shifts in depositor behavior.

It is also strengthening its operational readiness and digital payment channels to facilitate faster reimbursement of valid deposit insurance claims.

As part of its modernization efforts, the PDIC is seeking amendments to its Charter, including a proposed Single Customer View (SCV) system. The system would use unique depositor identifiers to speed up the determination of insured deposits while maintaining depositor privacy.

Brillantes-Bolivar said the initiatives are aimed at maintaining confidence in a financial system where money and information are moving faster than ever.

“The future of banking may be digital,” she said, “but its foundation will always be confidence.”