IMPACTS OF DIGITAL MARKETING AMONG LOCAL COMMERCIAL BANKING INDUSTRIES IN THE PHILIPPINES

Globalization in the business industry has established various challenges in the banking industry. It establishes criteria that seek to develop the business sector to promote ease and convenience for their clients and target audience. The banking industry in the Philippines has made its swift transition to carbon and paper transactions to paperless. It includes online transactions like online inquiry, transfer of funds, and digital marketing. The vast strategies in digital marketing have invited convenience and fast banking transactions. This paper employed the quantitative research and revealed that digital marketing in commercial banks have extended their reach to their audience, which increased the number of clients who can choose to buy various services and products of these banks. However, digital marketing has also reached its limit in terms of system failure and security issues. To resolve such issues, the commercial banks have strengthened their ICT systems in protection to their system and partners in the business.